What Is a Blind Taxpayer? A blind taxpayer is any individual in the U.S. whose lack of vision qualifies them for a special tax deduction accorded to blind persons. Blind taxpayers get the same standard deductions as taxpayers over age 65. For 2020, $1,650 is the additional amount of the blind taxpayer deduction for individuals filing as
What Is a Blind Trust? A blind trust is a trust established by the owner (or trustor) giving another party (the trustee) full control of the trust. The trustee has full discretion over the assets and investments while being charged with managing the assets and any income generated in the trust. The trustor can terminate the
What Is a Blockbuster Drug? A blockbuster drug is an extremely popular drug that generates annual sales of at least $1 billion for the company that sells it. Examples of blockbuster drugs include Vioxx, Lipitor, and Zoloft. Blockbuster drugs are commonly used to treat common medical problems like high cholesterol, diabetes, high blood pressure, asthma, and
Investopedia / Xiaojie Liu What Is a Blockchain? A blockchain is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure
What Is Blockchain-as-a-Service (BaaS)? Blockchain-as-a-service (BaaS) is the third-party creation and management of cloud-based networks for companies in the business of building blockchain applications. These third-party services are a relatively new development in the growing field of blockchain technology. The application of blockchain technology has moved well beyond its best-known use in cryptocurrency transactions and
What Is a Blockchain Operating System? A blockchain operating system uses blockchain as a support system that runs in the background of a computer system or platform. For instance, your Android mobile or Windows PC needs a local installation of the respective operating system (OS) on the smartphone’s memory or on the PC’s hard disk, and
What Is a Blocked Account? A blocked account generally refers to a financial account that has some limitations or restrictions placed upon it, temporarily or permanently. Accounts may be blocked or limited for a variety of reasons, including internal bank policies, external regulations, or via a court order or legal decision. An account that has
What Is a Blocked Currency? The term blocked currency refers to a currency that can’t be converted freely on the foreign exchange or forex (FX) market because of exchange controls. A blocked currency is effectively a non-convertible or inconvertible currency. The currency is generally blocked because of government restrictions, including foreign exchange regulations, physical barriers
What Is a Blocked Period? A blocked period refers to the length of time in which an investor’s securities are prevented from being accessed. A blocked period may be put in place if an investor has used a security as collateral, as it prevents the investor from using the same security as collateral or from
What Is a Block Grant? A block grant is an annual sum of money that is awarded by the federal government to a state or local government body to help fund a specific project or program. These became official in the U.S. beginning in 1966. This form of federal assistance is often associated with supporting
