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The Money (1.Before (Stones, coins, materials, what we decided (Human…
The Money
1.Before
Stones, coins, materials, what we decided
Own property
Human speed
Human contact
Very slow
exchanges and transactions
A collective fiction and a powerful concept
2.Now
DIGITAL MONEY
Advantage
Rapidity
All around the world
You can stay at home
Disadvantage
Limited utilisation in the world and expensive
Extra costs
No more property on this money
Money belongs to the banks
Bank decision
ex: Account frozen
Speed of banks
No more humans contact
Security?
A lot of friction
3.Future
CRYPTOCURRENCIES
Without intermediaries
Remove humans and institutions
No more banks
No more lead by governments
ex: Bitcoins
Two important things : no masking information and verifying sources
Safely and securely
Combination of software and currencies
How it works?
Based on cryptography (how to secure the communication)
Based on collective global knowledge of transfers
There is a list with all the transactions of Bitcoin in the network
You know where the Bitcoins go
You know who have bitcoins and how much
Computers do random cryptographic puzzle and you earn bitcoin (=mining)
Share the result to others computers
Secure the network
Real money with our property
Advantage
Pay anywhere around the world
Securely
Without barriers
Create new jobs
Democratize the money
Disadvantage
Cryptographic's puzzles are very hard
Going to be better with the evolution in a few years
The network is very powerful
Software use a lot of energy
The processus is very slow
Kelly Pierre and Julien Geboes
"The future of money"