From Barter to Fiat and Crypto
In this video we examine what we mean by a 'fiat' currency and why 'trust' is so important in the issuer of that currency.
This is one of a series of videos in which we examine:
1. What do we mean by ‘Money’? How the Barter economy led to a Paper Currency and ultimately to a ‘Fiat’ Currency system
2. What do we mean by a ‘Fiat’ currency? Why trust is so important
3. How commercial Banks can create money through a process of Fractional Reserving
4. How Central Banks can create money through a process of Quantitative Easing
5. The implications of all that ‘money printing’
6. What are Cryptocurrencies, what are their advantages and disadvantages, and why they are the natural next step in the evolution of currencies, harnessing technology and innovation in FinTech.
I hope you find these videos fun and informative. Please do leave any comments below
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