Its past, present and future explained concisely
What connects cacao beans, seashells, the mysterious Rai stones of the Yap Islands, gold, paper money, Bitcoin and central bank digital currencies? What made — or makes — all these things money at different times and in different places? What is money at all, and why do we need it? What happens when people are cut off from its use? What will happen to our current money? Have we already reached the end of monetary history, or are further monetary upheavals ahead?
In the 25 chapters of this book, these questions are answered by tracing the evolution of money from simple commodities to highly sophisticated software-based monies. We will explore various forms of money that emerged in different eras and regions of the world, examining how they worked, their properties, strengths, weaknesses and the reasons why people chose them.
In this way, it will become step by step clear and vivid what money actually is, what distinguishes it from everything else, what unique role it plays in our societies and what properties it must possess to fulfil that role as well as possible. Monetary collapses, which have occurred repeatedly throughout history, will acquaint us with the consequences of its destruction and show us how people in temporally and geographically distant regions dealt with such catastrophes.
With Bitcoin and central bank digital currencies, we will encounter entirely new forms of money and learn to understand them against the backdrop of their predecessors. What does the fate of historical currencies tell us about the future of these futuristic ones? What exactly is behind central bank digital currencies? What drives central banks and governments around the world to develop them? Do they represent an alternative to Bitcoin? Is Bitcoin a plausible alternative to our current fiat monies? Learn from the history of money about its future.