Ages of money

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A talk about the five ages of money and why the mobile phone is the distruptive agent that will move us from Money 4.0 to Money 5.0

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<p>This is a title slide</p> <p>The Five Ages of Money1Please copy and distributeVersion 1, May-31-11We can identify four distinct ages in the history of money. Perhaps technological change is now pushing us into a fifth</p> <p>CopenhagenFinance IT RegionThe Fifth Element2Please copy and distributeVersion 1, May-31-11The Five Eras of MoneyFrom 1.0 to, yes, 5.0Money 5.0What does it mean?</p> <p>The Ages of Money3Please copy and distributeVersion 1, May-31-11Money is a unit of account, a means of exchange, a store of value and a mechanism for deferred payment</p> <p>MoneyA Brief History4Please copy and distributeVersion 1, May-31-11</p> <p>The First Age: Atoms5Please copy and distributeVersion 1, May-31-11Eliminating the double coincidence of wantsMoney increases the efficiency of tradeLots of things can be moneyLumps of stoneIron toolsCopper ingotsSome things work better than othersGold, silver and a few other things</p> <p>Some AtomsStandardisation supported trade and growth6Please copy and distributeVersion 1, May-31-11</p> <p>The Second Age: Atoms about Atoms7Please copy and distributeVersion 1, May-31-11Moving things around is a hassleCollective memoryGrain storesGoldsmithsMove the claim, not the landThe invention of central banking</p> <p>Some Atoms about Atoms</p> <p>Monetising the stores of value8Please copy and distributeVersion 1, May-31-11</p> <p>Third Age: Bits about Atoms9Please copy and distributeVersion 1, May-31-11One of the first uses of the telegraphThe first electronic funds transfersMoney faster than a horse or a train Telegraph traffic peaked in 1929Telegrams ended in 2007But Western Union is still aroundPeople were transferring , $, Dm, But they were all backed with gold and silver</p> <p>Some Bits about AtomsIdeas born in this era still shape our thinking10Please copy and distributeVersion 1, May-31-11</p> <p>Fourth Age: Bits about Bits11Please copy and distributeVersion 1, May-31-11The rise of the fiat currencyAll money is e-moneyWell, almost (97.3% in the UK)That e-money is a promise to payThe means of exchange is evolvingWe all know its going mobileRemote control for wallet in the cloudMoving away from fiat currencies?KivasGoldmoney</p> <p>Some Bits about BitsIt will be the mobile phone that ends cash12Please copy and distributeVersion 1, May-31-11</p> <p>A Fifth Age? Bits13Please copy and distributeVersion 1, May-31-11Money is about to change againIt may become truly virtual, bits and nothing moreWhat kinds of bits?World of Warcraft gold pieces?Facebook credits?Reputations?BitcoinDigital mining</p> <p>Some Bits</p> <p>Zynga had revenues of $850m last year14Please copy and distributeVersion 1, May-31-11Where Next?15Please copy and distributeVersion 1, May-31-11Maybe using notes and coins will be like drinking and driving it will still go on, but nice people wont do it</p> <p>Just One Example</p> <p>Winner of the smart banknote design 201116Please copy and distributeVersion 1, May-31-11Thank You17Please copy and distributeVersion 1, May-31-11Any (More) Questions?</p> <p>Contact Details18Please copy and distributeVersion 1, May-31-11Dave BirchDirectorConsult Hyperiondave.birch@chyp.comtwitter @dgwbirchTomorrows Transactions:thought leadership from Consult Hyperion</p> <p>Read www.chyp.com/media/blogListen www.chyp.com/media/podcastsVisit www.chyp.comContact info@chyp.comFollow @chyppings</p>