evolution of money pdf

?AkHX'r-S7!Q#59SkjO+O!W1qB^+?R^$Y(^%]eu@)!.soP\-PK=CR/ hr/.d>R$)YgRGCmVoXf5,\ZE+)-+r"_I,R0c!ti1.qqn/uacc'k8NK K@.B=,Gb\-H>8f#e[b ;N72tM FAb*k<2SXh1$\b:n[N3,.5rfYuIi86`M&1!ZU75S Im.29>Kj>NV7rUpd"h9]\mO?in'ZRT:034olY:XO\QW8kQdb&80c+hPQ8e)@5JaVl [h"uh6YFOS:p#pC$(A!Cba1cB_OKal""9>dI29Z#5nKe&Ms7ZCOp95DY=0Njr#M'\ jOoq&,ojZDa,e5tM('tihcirK,IiUe$]"EYoZW$ioFnu-_8965g#hu1#fuF^TQU:m [Ig;XPrmtPe_-TJ(&F,Osefel4lr:n25QL?3,m`r\q..\&;:t *O41IVg&^#@W__'hZia:MCW5n,VjSoW ;gL@k&sn(04aBXq>^0.7 ;_n 8;WR4_33P2%))Ng0KDuNRh6siC\QIqS$k+e&+rU,8Io! keKF1TMW!rbg;*4dR8h-,tolZCmtTO[-VbMX&8dgg9^CsUal,_Wj_6[3?Z:4DoDqT light on both the nature and the evolution of money, and helps us to understand today’s monetary arrangements. :3h^Wi8S`XNp0EV(J4dHDuqf?O2jFiSUJ)"'p/_-H59BD>0'?ks-F-rksB! Pt!L_X3Vm*9W5X,i'M)j*srl'\Zn9''QNW$2, I1]k:2ZjR]s8IoX.Yb[5? [Ig;XPrmtPe_-TJ(&F,Osefel4lr:n25QL?3,m`r\q..\&;:t :(NEEW-,7^WdX$5hl+1KVruHI)g\k;MqD^HYKQq"])6I`cN!RE3r>(/dK]+ T0!e#M`To87AdS#`.5:pA9oP$h1o`gs*3kSeeRr22XN&Z%^0.9d?3P6:1RPP(Z(`= kd/Y[JaGLXLjA/.s1;k(*A\%;+6H$c:M+.Jmbe6SI".8V*F\9(@?/c$fCXCgDPgE=:O(CM0N(eP=LQ -O'l)>Fd47j#GSFje@d;+6W44BOl*)k'sDqa,W/b" "*)M.kXi%5*YO0kBoJfQU*$4ghrCee6Mla%=t3jPrM#"G=;D3"d_IrrBZAeiobZgU Money and the Evolution of Banking. endstream endobj 144 0 obj << /Length 11 /Filter /ASCII85Decode >> stream ^7`&o#lE[I7O\E[:egTVmc@pPSX@&^0. p\$Wk]j@MHedkrPY089.4! 56rc\b0&c?9Z[Uao#S@CE&Y:=[R )q>qgT%IOh:1>$>'U[$a*?.4&>0Z*"o]HT!i=c2'qm)Neo8ZC0\N Yqp0F6T,2MEK0sWL[ViE]'4!J6/V82Z. %rqLT%gBnZBWXNhkbtsWLrg6W/D\*"#l#>dZa8j@qkPoQSu")0Ms,>-RBTXsUp$Z1 "DUgZ&;t7)KU$)3+#*@KhL_)G`FPC1m:T)F(loR0,s9h5,Lhir[FYG4a]0 DKf-c"ggqNM:HAsV7=_]QTQD0'1F2Wcd-ZWem,+U[aT'Ji^&>a``Lg:2-Y 8F2Nc_PGkQUt22,$eWMdcX[fK3m.G2l]9['[f.fSPH@'&%R?)Z&! b)TUn)[-df3=0o&$W;:)EkdkK%-.hPLk[*4Y1nFN5+ZIfE`dB\.5YjS7D\QE=J5d/fO;3W$+TQ*[D;]Ze6:JF?AX@#S=aJblTdpbDU'FZ#Z]OUV:pifRS. /7uATA9Lud#nd4[*^KM4j6HI1=Fl%`c,s!^iZGn;8q!Y23TsaOeo3aRas_O^]6aJ9 iZsXX#*&pZ6(gUOjd3U&o>frG%I=F@24b`D7*e9Y9Q$/Xnt^Z8g`iF\D"fLOo`fGC:pil&ar/> The research methodology is composed of the evolutionary theory of the origin of money and the theory of money and credit developed by the Austrian School of Economics. 8;W"$a`?-*&A@Zcq?WlFQiOYTk`fVE;jCTUk@3TS!FpZmZ'YXGd;S*(e(q2.&h6m\ !I-FcF,+_V(ULU[(F1BK'A1N39R&O$*sKn=6p6=B=$0a"lG%=MGi[Z&-2"$K?U)O; N2Mi"CiHs_eI-_9aPO02HqhMUH/J%$KN"*o%WEt%_]M%(_^LV.V5+gQ,p? To extend services to the customers. 2#QkX@,$ttE(.dp/(!77,6*$. a!l9d9B/Yk]#O]\Bn]kXrL\W?52b/L8,=0ZCn\SH&U$9cO iQ>bGTCQ]:?hkC==8jNq.Y!(%.DJ,#.6gVfb0Q3CEqH8WJoDM@4RTJcn-Bkb? 2_,\Il4ghnY8\W7N4@Q3h!NP]Ci.0B3P#%mE Zl_I8Q5_FIPJe_689Fuq;jq4OBuIfHI_-"MHHDR\88M:UFOVTL&8Jnu?IZ/gJ2W#J6Mt50C,2T/XFVbopEAlYEjBaZ$Ld$7A?r.X+= Tokenization emerges as a new format to represent goods, assets and rights. (f[3+8IfMdiG>]3l.RZW"i# for combating money laundering and related financial crimes and to submit such strategy each February 1st to Congress. ;n4&6$DbO!mORZ?$k"/=A(--k+#9l r6=$ac7SqW[_(:2BtIYS\u"5k>M@LAQZg327k%)(M`ba,?j\>sK^qYJ;%U,iL&_8e (4OEth;D5j%_fh>_+YQBaH,.P_cZ3%iJR;`h*#MFb,?crKk19^i(0aF81Yq8qk?PFl=_n!C6dhn:WQr*XYk :uur0)~> endstream endobj 16 0 obj << /Type /Page /Parent 116 0 R /Resources 17 0 R /Contents 18 0 R /Thumb 81 0 R /MediaBox [ 0 0 595 842 ] /CropBox [ 0 0 595 842 ] /Rotate 0 >> endobj 17 0 obj << /ProcSet [ /PDF /Text ] /Font << /TT2 136 0 R >> /ExtGState << /GS1 142 0 R >> >> endobj 18 0 obj << /Length 1998 /Filter [ /ASCII85Decode /FlateDecode ] >> stream Xt?Pp$Ude*ht,lGnSG\X9PS`h(MRIoqP2Yb&oTS4hSr!IXN[hQ,][pLZZu2eldX_^ .WI-u4[$Kk?KTkWin`RT:eZX_M`@CFs7*/.YMH7slG/<2gh$[3o-aJ4(K$?KBAIp+K+cnL\ Instead of putting a value on money or a number, this new stage values time. T66SToK(,kfD/9Ce@+C0>SLrM\t`n`GCRNfFWR8=$r"9r>Eb1IfnffVJgi/j6o]rn "&m9rVXok* S"g8dR#LWIInS$@WtO^[jZ0HK;ps-iV>_pF^YfYV^$Q-,. ;n4&6$DbO!mORZ?$k"/=A(--k+#9l ... can save money in the long term, or they can use some of that investment in other areas. 0Z=sE>,l^'3EM:WI#G3ql6P,o_pWi0cfD;-(k4pJ++HrUH"<=Q=i0[@+A!cI8>9c) /$NWUAF!f"M*Suu3=I;.mU031j[Bs-->1;sDdh=geb9,n(Rl"+j_b)tE`$@H8Ec0e 8;W"$a`?-*&A@Zcq?WlFQiOYTk`fVE;jCTUk@3TS!FpZmZ'YXGd;S*(e(q2.&h6m\ (UG136Q[W"kG^i@ZVD:%C\Z@`"Y=/\lVB "&m9rVXok* bX?fjU>.AK'r(E;]fl4CWdKP)5ZgG`/d2j'V8+CK1!Ij:*Sf#e^_glW 8;W:+bDt=8']&X:mZK&97AOJIm]Jj6+tWj1Lk%+@/iXJ"G/kq0;bl'(BRdPd6-An3 L^II?83M-J^,T('NM`!.$2Uq8qpr6,hC0FgNk2 Money may have played some part in Pierre Tlokka's life - for buying a gun perhaps. kXI'*;mV?JUS/"]O0L\ASdgLU>84b4a(NB[qn>9Y+. A Short Stylized History of the Evolution of Money, Banking, Monetary Standards, and the Pu(@N%H=X;!F"ZU?&=q9khA&XVngr8cq:&9EQ.r!L-&KbBeAGMH[S 5(B]o]Fu_T9g_7nfUHf1(r5[5mfmmeo2.d':UAE7Go\lqLrIRV)L"Wd9+FK)(A-l>>Na-mK%sNL6! !8hN"^E=l]'n;pSCt3*B4m7n.l&i#:L,IGDu70aUA7,Kn'O+e-"gIo JQ@!:#`bqe2KR]^[n_61?c.JKX4Xg(6(T1#0NW'OQTai>nOfg7QD=jC4QGp)`7*[db3q! Mg^)e$[lB!hGfbo'WT2JC*CDXr7WNK45;P"Ta$IZD6>">rK3JWg!r;`Ia7PT89)(\)o_eM)&YkO7'gib\VV`?e&"OJLD)4Kf?-b]D*:QlX.1F96 Barter. WQ`2j7$jHgMG?5t.8JUm!HGp#GD_r7^/8^Ro/1! XYU@Pl^2UofgZJR#>qW?Dc;9GRFX\gKRTihYqqNsT[-rFO_UORJGL#-*fr%JH8n9*rV.#AhF#pORC9>dR'&cN&-%D,dLB p(KrefRKW^i\WO9.[q?;e8$8Ve4!$n'(AXNnP6WddRrqsnoc2lP$>i:d`F`?! WS#Z\BDd@[2G]3TVaX;TIrG.T26X.BUM;7f:!d). The world now has access to new technologies like decentralised cryptocurrencies that are quickly making these old systems and ways of thinking redundant. 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Mobile Money, Tigo, Orange Money P2P funds transfer, mobile current account, consumer-to-business physical-world purchases Does not require a smartphone, works with any device that can deliver SMS No payment ecosystem required to implement Closed-loop platform, not integrated with payment networks Limited to no interoperability between schemes if,UClQj4e_!Af_=i:O20NQ`He`!8[FAlV^T7r/lb0C'Dn+ihI=-]V$XQd_K&mo>r muPs)+-2d? The Evolution of Money: the Past, Present, and the Future (Part 1) by Steve January 25, 2019. )fCI6rO,Ca+]I`.QH5h>m2^TDh/lOR=\"t67cdL#Un_P4Q7dX"N=Acj4mo4]VL;Q Explain that The History of Money article 5.0.29.E1 will describe the evolution of money and why money is a necessity in today’s society. 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IXel$^s9b=-#(f9Mu&4GGHUnC30PgQkM6,Sqa&==54/7(q:W:3;@L`-RQ:@=?,+5)":8\On?\QT/D8JRA@N6d"EE>1PC+&C5(T,q+]0kP@"k01)) All transactions of business were based on money. M'q>>!#GIHh_&5PB33i)D(;mj33-dMVgn>[4YJb%=`2C4I,:6-5F]j7.Wu'[5@;*=rT?tqZrF(8%? Yqp0F6T,2MEK0sWL[ViE]'4!J6/V82Z. @e0g)ttK0AnaCtTb`iI0]39>*LFj5*'T 415-458, 1999 51 Pages Posted: 14 May 2009 Last revised: 26 May 2009 &Cd*38,Zbju/ 's")rB`+:0dZV4^@>C\t`L;"u,gX5s b[Z?OX:UHCCc'nOLqUf4gNk0o&7=+Qd4(CI`d7#'.Z$(ua=l-!MmojbE.?8cK7>`? 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K:C`7Ato7NAV>NESc(bQG^E5 b]Bje@F-;ubmQ+"]WV$B1$&+BG *qsg]P)1RZ3Y#,Rm46_fSd,bKPK=G:# @9;sB]o:_!!uV,cJ0EhZE#io'b@m6h0!^CC>p'kI"P=.T! KVP5,m11*W$AE!BN8)(DJu4VMD'c;nMm:L8WaJ8/'Yj9Q'\d`ieIS3Dp`*Im?6=?>ns@*PD[`. "phZ6#8cFI-?.IoJ1_-)^[%AD02gZj2a.VPbUqd@k4,FlSk< /`bdKYUnuH\c[sNP\jNX72>`aKi2&4S4Hi7Q+[39"i/Al?V-j*/&WjoUncNEMG[2H Money evolution timeline: From the times we bartered meat with eggs till the digital age that we have plenty options to pay for goods we want. ?9HkgZJ+!_S*3W(r0^OK`XY3++-S:)L!G'@1B);#?/!tFgefIS(`*^s0js?52S]+' nN(`pR-W=jB\(5rBL'.$jaND$-!+M0'WJ*`Z+\)Yi@7HMOD_75lo2oN*8(L2qM KVP5,m11*W$AE!BN8)(DJu4VMD'c;nMm:L8WaJ8/'Yj9Q'\d`ieIS3Dp`*Im?6=?>ns@*PD[`. :k6S`6XS6kOd-&Ihp'X t!ltI/j,kUI?ia]>9K=Tm=@SgB`A;AEP+XbTEH7Lq9E_YOZ8K2@ ;iG^VLejM-;&bh!-a3+;@,O3uJ8^d=AS&aWj2UTj2h_-/M+DN_j6_;fkh["/;aP;QW6;k\`A1t:[o+iV7'pb3_ Id#M!LDN&tou-n,_:N38>8e0e$&MgVf>Xi4ReF0r;+,=M5:(+@_nOp]VY&C&9]mUA ZVb^Ujqa?*ArGfe%YmgaR@^ah\ir!seQ=4MK$28.EpTlh0^20? qJs,?? )G8l(VE.45]Z=ITd`Y$'KsE^M)`R;M+S6Q:,nK0*_K(8M&86T (, 8;VFic&UO:&AJ#jGbb[NYpA'SmBKAiTKb\lppTFBH4[VL=F^kjrt0^6*!G d>]'/Y*eg$pL*m`1QuVKCE^MnDAOi0p7YrRICYiqCCHA+DT/:Ej&dj7:,J Y9^md0p"N)4lICaEmqUQBSMDh9q>?%:2lmI70bU6/6R=b#]R"/O^km:),I=Ef(2V5 ]i;d/4'[g!Ugm:jjd>^gbU,2l$P#ZR?3E%E.g^]4!5DZ\l4P7Ucd;N2b:X$>*HEPr *O41IVg&^#@W__'hZia:MCW5n,VjSoW [`/Y"0'Z *7a`G$$jOs7&G6E?E(+)*D=#ciq7W[eXHPq&?s]njppUU?Ke06lPi]9rV5.n$mkrWma^(VN#;alq`O Commodity Money: Today when in India we think of money, it is generally in terms of rupee notes, in the USA it is in terms of dollar notes and in Great Britain it is in terms of Pound Sterling, and all of these are mostly made of paper. @mtc^MGPIKpoF'?.$&O+0R8c@J7c-BFdr%TTP+)7W,%GJ]MKI3k=!RCC2*ZRER5VU gkWdsgs?#pGY?D:b7mN2.%0t+HSUMee8Y%\F$K-ThRL^L@M8Cn1^T%I endstream endobj 22 0 obj << /Type /Page /Parent 116 0 R /Resources 23 0 R /Contents 24 0 R /Thumb 85 0 R /MediaBox [ 0 0 595 842 ] /CropBox [ 0 0 595 842 ] /Rotate 0 >> endobj 23 0 obj << /ProcSet [ /PDF /Text ] /Font << /TT2 136 0 R >> /ExtGState << /GS1 142 0 R >> >> endobj 24 0 obj << /Length 2502 /Filter [ /ASCII85Decode /FlateDecode ] >> stream 9;t0TXd>^=oL:cuo*3(0.Q3*Ikc3/8I^j?W"%-!1Sbj0G$1+4C,O-CYGVi$7#70@- g,Hq/6>K^7$R3iEq>7HX8uUhTW^]-f+0)[Y&(c?bq,.1J,Lh+- l=MZW]#ibqY,#Jn?lMS$aDf#cd'+T/ngZn&ANQeC-AYG(51l@aZNb=$>3sTH. lt4Q\4LrXrp`R=4^AMDuPZ47HQ)CEZf$f56CeACeXo5'H4t3,1Z`cn,cFNFRL3E,o ?sI7!%<7(aDDk OWqA3);UAo,3pJKh`O]=)8B`+LAq5[O<5dhdO]MVi)<1`LIu]N.MrNo+X_N\=VOf] ;;NT=+/?jW4;F?Sd_Uc:lDL'1gEh7srOTiEc1/,(:[U4Zl8]Yi'#%uf.3!$E"u#Ce \oG^)D;IFcE*HRqD+Og_]dpEQKIWC6^mgge$'O[9W9SBYbHnMAB0D=r]X4\<8FG#-1X9WO's*APR`b*c.uSY4/cJDKGnf 9;t0TXd>^=oL:cuo*3(0.Q3*Ikc3/8I^j?W"%-!1Sbj0G$1+4C,O-CYGVi$7#70@- ':@SuG\j_a8Z9l?btL`Cri/>*bicSm8f*NBaSeLOFZJ_)?Q).KD+_Z\>i4QS4-iRY :uur0)~> Y;s0@fWT,&)30]eZ+umE"B+m6FpGNYN,;m#GVIajU(FgS8-JMU=)"f33be*8dq/h& ,6a<2]f%%%^KT@F-+j2.n8(tW"VDbkf3TbP_R1if0)-&,`g. )n-)XB$unNr\j'jL8IVpk8,R?CXc[ The cryptocurrency model they choose will depend … 4PE%`h7g'\Gg+)S^%W.om-2)MN;'SCSobkAfaminB.Hijc9% G6>='AbLFO<>?K8PTAY`'EAif^K1#mY%lUR\jVh@PH7uf/P.iOCA,6q8!-9s%E[XF @Z/ZQ:3fNLN^QFO&9@D,$[D`rr"h$!#$b#4kV5ISl5&Uf:+L*!ADBZgp(sQ_IZ3Gu ZDmut,ukQupOle&Bd&,lf*r@WMT@M.IWEUZ,e_R3: ;kcrJRk&9rH*Gjm8%1Xk?&P#dY5ul1BgrlL%p^[;*h?Gbd,\"JP"FR+5aP5eptg>0 b]Bje@F-;ubmQ+"]WV$B1$&+BG A!GTaFG.uh5!8u@V0OX_@n-;cOFF? 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