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Exploration of Forces and Catalysts for the Evolution of Money: From Barter to Digital
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Author(s): Simriti Popli (Kaplan International College, London, UK)and Gabriel Wasswa (Kaplan International College, London, UK)
Copyright: 2024
Pages: 12
Source title:
Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges
Source Author(s)/Editor(s): Guneet Kaur (University of Stirling, UK), Pooja Lekhi (University Canada West, Canada)and Simriti Popli (Kaplan International College, UK)
DOI: 10.4018/979-8-3693-1882-9.ch001
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Abstract
The evolution of money has been a continuous and dynamic process, influenced by myriad economic, social, technological, and political forces. From the invention of coinage to the emergence of blockchain technology, technological innovations have continually reshaped the mechanisms of monetary exchange, challenging traditional notions of currency and financial intermediation. Moreover, the study also examines the complex relationship that exists between money and socio-political forces. It investigates how government policies and central bank interventions influence monetary systems shaping their stability and credibility. The socio-cultural perceptions and beliefs surrounding money have also been taken into consideration, highlighting how cultural norms and values impact its evolution and acceptance. Finally, the chapter offers a holistic perspective on the forces driving the evolution of money, and by understanding these forces, policymakers, economists, and individuals can navigate the evolving nature of money more effectively.
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