Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

blockchain

When people invest in Bitcoin, the money is going into into the underlying technology - known as blockchain - not the payment instrument itself.

The blockchain is essentially a giant record book of all Bitcoin transactions, it is to Bitcoin what the internet is to email.

This is the decentralised network where every bitcoin transfer is verified, processed and written down. It has the potential to make economic interactions cheaper, faster and more secure.

The idea is to remove the need for...