Offshore account

A bank account that is registered in a country other than the one in which the owner was born is called an offshore account.

Absolute Advantage

An economic theory in which one party produces or provides a particular good or service more efficiently than another party.

Encryption

Information can be converted into code using encryption, which conceals the true meaning of the data.

Off-Chain

All network users can see on-chain transactions because they are recorded on the distributed ledger. Off-chain transactions, however, take place away from the blockchain network