Glossary

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Balances

This is used to represent any type of store of value in your Ledger, e.g., bank accounts, wallets, card balances, store points, escrow wallets, liquidity partners, etc. All transactions must flow between these balance accounts as source or destination.

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Blnk Ledger

This is a tool that allows you to keep an accurate system of record for your app’s financial data. It is free to use as a part of our open-source Core.

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Cloud

The Blnk Cloud is the platform for viewing and acting on your financial data without code. It brings teams, financial data, and advanced concepts together in one place. Each Cloud account is tied to one organisation and is referred to as a Cloud workspace. You can add as many users or instances as you want to a Cloud workspace.

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Core

Short form of open-source Core, also known as, Blnk Core.

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Double-Entry

Double-entry is an accounting principle that states that every transaction must have a debit entry and a corresponding credit entry. Blnk implements this as a transaction having both a source (where it came from) and a destination (where it went to).

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Identities

Use identities to create and manage your customers’ profiles in your core system. Identities can also be linked to one or more balances to get better insights into who is involved in a transaction.

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Inflight

A transaction with inflight is held in transit until a defined set of conditions have been met. If met, the transaction is committed and processed successfully. If not, the transaction is voided.

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Instances

An instance refers to a single deployment of the Blnk Core on a server. This can be on a local development environment, staging or production environment. To use Cloud, you are required to connect a live instance to your workspace. You can deploy and connect as many instances as you want for your application.

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Ledgers

A ledger groups similar balances in your Blnk Ledger together. You can group balances by use case, product type, customer, currency, etc, e.g., USD Wallets Ledger, Debit Cards Ledger, etc.

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Metadata

Blnk is designed with default attributes for each record. Add custom metadata to extend your Ledger records with additional information, e.g., you can include, track, and update the KYC verification status of an identity in its metadata.

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Money Movement Map

This is a foundational concept for integrating the Blnk Ledger. Maps visualise the flow of funds in your system. This makes it easy for developers to programmatically convert money movement requirements into code.

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Negative Balance

A negative balance amount means the balance has more debits than credits. Balances are calculated as credit_balance - debit_balance; if the debit balance is higher, the result will be mathematically negative.

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Open-Source Core

This refers to Blnk’s suite of open-source tools available for download. It is made of the Blnk Ledger, Reconciliation Engine, and Identities. To get started with it, visit our developer docs.

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Overdrafts

Use overdrafts to process transactions when the source may not have enough in its balance. This usually forces the source balance into a negative balance.

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Reconciliation Engine

Reconciliation makes it possible for you to automatically match the records kept by your [Blnk] Ledger with external records (bank statements, card statements, etc.). This increases your team’s efficiency by reducing potential errors to near zero.

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Transactions

A transaction moves value between balances. Transactions are required to have a source and destination to ensure correctness and traceability.

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Need help?

Let’s help you get started with Cloud! Whether you’re setting up your first workspace or adding Cloud to your existing tools, our team is here to help you succeed.

Contact our Support team to get answers and expert guidance on making the most of Cloud.