Learn Web3, hands-on

A blockchain is a record book that thousands of computers keep identical copies of. New entries are grouped into blocks, and each block carries a fingerprint (a hash) of the block before it.

Change one old entry and its fingerprint changes, which breaks the link to every block after it. Every other copy would disagree with yours, so the change is rejected.

A wallet app (like Phantom or MetaMask) doesn't hold coins. It holds the keys that control an address on the blockchain.

• Address: like an account number. Safe to share; it's how people pay you.
• Recovery phrase (12 or 24 words): the master key. Whoever has it controls the money.

Bitcoin and Ether move up and down every minute. A stablecoin is designed to stay at one US dollar. USDC is issued by Circle and backed by cash and short-term US government bonds.

For a business that's the useful part: a customer abroad can send US$100 in USDC and it arrives in minutes, for a fraction of a cent on Solana, still worth about US$100 when it lands.

Each blockchain is a separate network. USDC exists on Ethereum, on Solana and on others, but they are not interchangeable. Sending on the wrong network can mean the money never arrives.

Addresses are long and easy to mistype. The Ethereum Name Service (ENS) lets you register a readable name like crmja.eth that points to your address, the way a website name points to a server.

Many wallets let you type the name instead of the address. The name is owned by a wallet, so only its owner can change where it points.

A smart contract is code stored on the blockchain that runs exactly as written. Think of a vending machine: put in the right amount and the snack comes out. No cashier needed, and the machine can't change the price for one customer.

• Escrow: a buyer's payment is held and released automatically when delivery is confirmed.
• Tickets and certificates: issued once, impossible to forge, easy to verify.
• Shared funds: money only moves when, say, two of three signers approve.

• Never share your recovery phrase, with anyone, ever.
• Check the address before you send. Compare the first and last 4–6 characters, or use a verification tool.
• Send a small test amount first when paying someone new.
• Ignore "guaranteed returns", "double your money" and urgent pressure. Those are always scams.
• Blockchain payments can't be reversed. There is no chargeback.

Jamaica was one of the first countries to issue a central bank digital currency: JAM-DEX, from the Bank of Jamaica, launched in 2022. It's very different from crypto.

Rules for crypto businesses in Jamaica are still developing. This site is for information and education, not financial advice.