Digital assets: Explained

We have produced a series of short video clips that explain some of the key terminology relating to digital assets. We produced these clips in response to the findings of STEP’s digital assets research report – Digital assets: A call to action.

With digital assets having become a common part of modern estate planning and estate administration, demand for advice is expected to increase significantly. Our research with estate practitioners found that they would benefit from information, education and training to better assist clients with digital assets. Many practitioners themselves had identified this need.

These short clips serve to help both practitioners and clients understand some of the key terminology for estate planning and estate administration of digital assets.

What is a digital asset?

What are cryptoassets?

What is blockchain?

What is a digital wallet?

What is a seed phrase?

What are non-fungible tokens?

What are smart contracts?

What is a consensus protocol?

What is proof of work?

What is proof of stake?

Digital assets: explained

View the ten key concepts as a set:

Further resources

Digital assets hub

Visit our digital assets hub, where we have pulled together news, features and resources to keep you up to date with the latest digital assets developments.

Research report: Digital assets - a call to action

Our report found that digital assets are increasingly becoming a normal part of modern estate planning but close to half of respondents had not prepared to to assist clients with them.

Protect your digital memories

Learn about some simple actions people can take to ensure sentimental digital possessions such as photos, videos and social accounts aren’t lost or inaccessible in the event of their death or incapacity.

Digital Assets Special Interest Group

Our Digital Assets Special Interest Group provides an international forum of debate, education and support related to planning for and administering digital assets, also driving the need for, and harmonisation of, legislation in relevant areas.