This is a chapter from the Token Economy book series. All subchapters are collapsed under their subchapter headings to make the page more readable. Find copyright information on this text and about the book an the end of the page.
This chapter will touch on the history and most important aspects of money and credit, and will explain how both topics are intertwined social constructs that are deeply rooted in the value system of our economic networks – the tribes, villages, nation states, or digital tribes we are a part of. With the emergence of blockchain networks as the backbone of Web3, money and other tokenized assets including tokenized credit and lending services have now become a native feature of the Internet. A good understanding of what constitutes money and credit is, therefore, a prerequisite for being able to assess and co-create this emerging token economy. [1]
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Intro
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Separation of Money and State
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History of Money & Types of Currencies
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Properties of Money
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Fractional-Reserve Banking: Money as Debt
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Redefining the Concept of Money & Value Creation
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Chapter Summary
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Footnotes
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References & Further Reading
This is an excerpt from the book “Token Economy: Money, NFTs & DeFi”
RIGHTS
Copyleft 2023, Shermin Voshmgir
Creative Commons CC-BY-NC-SAÂ
NON-COMMERCIAL USE
This license only allows reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, so long as attribution is given to the creator. If you remix, adapt, or build upon the material, you must license the modified material under identical terms.
COMMERCIAL USE
For commercial use contact:Â hello@token.kitchen
BibTeX
@book{title={Token Economy: Money, NFTs & DeFi}, author={Voshmgir, Shermin}, year={2023}, publisher={Token Kitchen} }