Crypto and Modern Finance — The functions of money and how it went digital.
Before crypto, it helps to understand what money actually is. Money does three jobs: a medium of exchange, a store of value, and a unit of account.
Fiat money: Currency a government declares legal tender, valued because people trust the government, not because it is backed by gold.
Anything used as money must be limited in supply. If it could be created without limit, it would quickly lose value, which is what happens in hyperinflation.
Most money today is already digital, moving as entries in bank systems rather than physical cash.
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