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The Five Ages of Money,[object Object],1,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],We can identify four distinct ages in the history of money. Perhaps technological change is now pushing us into a fifth,[object Object],Copenhagen,[object Object],Finance IT Region,[object Object]
The Fifth Element…,[object Object],2,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],The Five Eras of Money,[object Object],From 1.0 to, yes, 5.0,[object Object],Money 5.0,[object Object],What does it mean?,[object Object]
The Ages of Money,[object Object],3,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Money is a unit of account, a means of exchange, a store of value and a mechanism for deferred payment,[object Object]
Money—A Brief History,[object Object],4,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
The First Age: Atoms,[object Object],5,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Eliminating the “double coincidence of wants”,[object Object],Money increases the efficiency of trade,[object Object],Lots of things can be money,[object Object],Lumps of stone,[object Object],Iron tools,[object Object],Copper ingots,[object Object],Some things work better than others,[object Object],Gold, silver and a few other things,[object Object]
Some Atoms,[object Object],Standardisation supported trade and growth,[object Object],6,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
The Second Age: Atoms about Atoms,[object Object],7,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Moving things around is a hassle,[object Object],Collective memory,[object Object],Grain stores,[object Object],Goldsmiths,[object Object],Move the claim, not the land,[object Object],The invention of central banking,[object Object]
Some Atoms about Atoms,[object Object],Monetising the stores of value,[object Object],8,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
Third Age: Bits about Atoms,[object Object],9,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],One of the first uses of the telegraph,[object Object],The first electronic funds transfers,[object Object],Money faster than a horse or a train ,[object Object],Telegraph traffic peaked in 1929,[object Object],Telegrams ended in 2007,[object Object],But Western Union is still around,[object Object],People were transferring £, $, Dm, ¥…,[object Object],But they were all backed with gold and silver,[object Object]
Some Bits about Atoms,[object Object],Ideas born in this era still shape our thinking,[object Object],10,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
Fourth Age: Bits about Bits,[object Object],11,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],The rise of the fiat currency,[object Object],All money is e-money,[object Object],Well, almost (97.3% in the UK),[object Object],That e-money is a “promise to pay”,[object Object],The means of exchange is evolving,[object Object],We all know it’s going mobile,[object Object],Remote control for “wallet in the cloud”,[object Object],Moving away from fiat currencies?,[object Object],Kivas,[object Object],Goldmoney,[object Object]
Some Bits about Bits,[object Object],It will be the mobile phone that ends cash,[object Object],12,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
A Fifth Age? Bits,[object Object],13,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Money is about to change again,[object Object],It may become truly virtual, bits and nothing more,[object Object],What kinds of bits?,[object Object],World of Warcraft gold pieces?,[object Object],Facebook credits?,[object Object],Reputations?,[object Object],Bitcoin,[object Object],Digital mining,[object Object]
Some Bits,[object Object],Zynga had revenues of $850m last year,[object Object],14,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
Where Next?,[object Object],15,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Maybe using notes and coins will be like drinking and driving – it will still go on, but nice people won’t do it,[object Object]
Just One Example,[object Object],Winner of the “smart banknote” design 2011,[object Object],16,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object]
Thank You,[object Object],17,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Any (More) Questions?,[object Object]
Contact Details,[object Object],18,[object Object],Please copy and distribute,[object Object],Version 1, May-31-11,[object Object],Dave BirchDirectorConsult Hyperion,[object Object],dave.birch@chyp.comtwitter @dgwbirch,[object Object]

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