Money is one of the most important but least understood manmade tools in existence. For more than 5,000 years humans have used a tool of exchange called money to facilitate trade. During this timespan, the evolution of money has evolved into a system of information, a social contract, and a ranking system.
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Introducing the General Ledger
The evolution of money has a fascinating history and the birth of the Bitcoin network transformed society’s concept of the subject into something altogether new. In its simplest form, money is simply information, sometimes coupled with physical items, that is traded for goods found or produced by humans. One of the earliest versions of money stems from ancient Mesopotamia (3,200 BC) when people used tablets to account for certain types of goods like grain, meal, and malt. The reason individuals developed an accounting system is because physical items could get too cumbersome to show wealth to others…