The journey through the history of assets and money
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We bring you on a journey of the history of assets and money.
Author: Nadiia Alekseieva, Lawyer, Member of SFTL https://swissfintechladies.ch/sftl-authors/
The journey through the history of assets and money
A truly exciting look into the past takes us into the fascinating world of assets and money as we know it today. From primitive barter systems to the digital revolution, this journey reveals the evolutionary development of human society and its relationship to wealth and capital.
Long ago, when humanity lived in small groups, barter was the basic form of trade. Hunters exchanged their hunted prey with gatherers for fruit and vegetables. But this system had its limits - the difficulty of comparing the value of different goods and transport problems made bartering cumbersome.
In ancient times, a revolutionary idea emerged - money. For the first time, coins were minted from valuable metals such as gold and silver. People recognised the usefulness of money as a common representation of value and a means of exchange. This represented a significant step towards a more efficient economy.
With the rise of great civilisations, banking also evolved. The first bankers in ancient Greece and the Roman Empire offered credit and facilitated international trade. In the Middle Ages, banks in Europe became important financial centres and laid the foundation for modern banking.
The Renaissance brought about a new era of prosperity and art. Wealthy families like the Medici of Florence used their fortunes to support artists and scientists. At the same time, the discovery of the New World changed the economic landscape and led to the exchange of goods between different continents.
The 19th century was marked by industrial revolution and technological progress. Steam engines, railways and telegraphs accelerated trade and the growth of capitalism. Banks became important players in the financial world and the idea of shares as an investment instrument gained importance.
In the 20th century, the financial market continued to transform into a complex and globalised arena. The emergence of the fiat money system, where currencies no longer secured their value through physical gold but through the trust of people and the guarantee of governments, ushered in a new era.
The 2008 financial crisis was a turning point that shook confidence in traditional financial institutions and at the same time paved the way for an alternative currency - Bitcoin. This cryptocurrency, based on blockchain technology, promised a decentralised and tamper-proof form of money.
The digital age further accelerated the transformation of the financial system. Mobile payment platforms and online banking made it possible for money to flow quickly and across borders. The idea of a purely digital currency, independent of governments and traditional financial institutions, fascinated people and created room for innovation.
Today, we are on the threshold of a new era of finance. Blockchain technology has the potential to revolutionise not only how we transfer money, but also how we manage assets. Decentralisation and automation could create new opportunities for investors and financial institutions. It also means more options for women today to do well financially.
In these exciting times, one thing remains constant - the history of money is an endless journey, shaped by people's creativity and needs. From primitive barter systems to the digital crypto world, it shows us that change is inevitable and that the future of finance is uncertain but full of possibilities. May this journey through the history of assets and money inspire us to look boldly to the future and welcome change with openness and curiosity. For who knows what amazing developments lie ahead and how they will once again change the foundation of our economic activity.
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Karen Wendt
President of SwissFinTechLadies