A talk on the history of money, currency, and capitalism from the dawn of currencies, single entry accounting to triple entry accounting and blockchain. We also derived double-entry accounting from single entry and talked about inflation. The slides are from my talk at IIT Hyderabad (Mar, 2019)

1. Money & Capitalism
E-Summit 2k19 | IIT Hyderabad | Mar, 2019
The history & future of
@kingsidharth
🤑

2. The Economic Organisation of a
Prisoners of War Camp
A research paper by R.A. Radford
bit.ly/TEOPWC_RP

3. 🚬
Currency

4. – R.A. Radford
“But the essential interest lies in the
universality and the spontaneity of this
economic life; it came into existence not by
conscious imitation but as a response to the
immediate needs and circumstances.”
English: Economic organisation is natural to us

5. …that & counting!
5x🍎 = 3x🍊

6. Money, Trade,
Currency, & Banks
All for 🌮 🍱 🍲

7. Double-entry
Accounting
A crash course

8. Transaction Amount
Bank Transfer from Mom 1,000
🛵 -100
🍺 -800
Fixed Deposit -50
Balance 50
Single-entry Accounting

9. What do these transactions
look like in their accounts?

10. Transaction Amount
Bank Transfer 1,000
🛵 -100
🍺 -800
Fixed Deposit -50
Balance 50
Transaction Amount
Bank Transfer -1000
Balance -1000
Transaction Amount
🍺 800
Balance 800
Mom’s Account Local Bar’s Account Fixed Deposit
Transaction Amount
Saved Finally! 50
Balance 50
Your Account

11. Transaction Deposit Withdraw
Bank Transfer 1000
🛵 100
🍺 800
Fixed Deposit 50
Balance 1000 950
Transaction Deposit With.
Bank Transfer 1000
Balance 1000
Mom’s Account Local Bar’s Account
Transaction Deposit With.
🍺 800
Balance 800
Your Account

12. Transaction Deposit Withdraw
Bank Transfer 1000
🛵 100
🍺 800
Fixed Deposit 50
Balance 1000 950
Transaction Deposit With.
Bank Transfer 1000
Balance 1000
Mom’s Account Local Bar’s Account
Transaction Deposit With.
🍺 800
Balance 800 0
Your Account

13. Customer Account
Company Account
Mom’s Account
Your Account
Local Bar’s Account
Wholesaler’s Account
Manufacture’s Account
Salary Account
Expense Account
Profit Account

14. Customer Account
Company Account
Mom’s Account
Your Account
Local Bar’s Account
Wholesaler’s Account
Manufacture’s Account
Salary Account
Expense Account
Profit Account
Fixed Deposit
Petrol Pump
Supplier Salary
ExpenseInvestments
Owner

15. Governments &
Central Banks
Minting money & assuring trust
🏛 🏦

16. The fraud in our
entries
जब िमयां बीवी राज़ी, तो क्या करेगा क़ाज़ी?

17. 📸
📸
📸
Transaction Deposit Withdraw
Bank Transfer 1000
🛵 100
🍺 800
Fixed Deposit 50
Balance 1000 950
📸
📸
Mom Local Bar Petrol Pump Rest of the World
Send a copy to
everyone

18. Blockchain
Distributed triple-entry accounting
No need to trust anyone!

19. But it’s expensive!

20. Why would people
do the work?
🤔

21. Bitcoin
Let them eat rewards

22. Bitcoin
Currency vs. Asset
(Trade) Currency (Invest in) Asset Bitcoin
Moves value Yes No Yes
Stores value Yes Maybe Yes
Has intrinsic value No Yes No
Intrinsic Value = has value on it’s own

23. Inflation
The rising cost

24. Rs. 100
Rs. 8 (8% Fixed Deposit)

25. Rs. 100
Rs. 8 (8% Fixed Deposit)
Rs. 108
Rs. 9 (8% Fixed Deposit)
Rs. 115

26. Rs. 100
Rs. 8 (8% Fixed Deposit)
Rs. 108
- Rs. 9 (8% Inflation)
Rs. 99
You lost money!
😱

27. That’s why you can’t save enough
That’s why getting rich is not
as same as saving
🤯
Inflation will eat everything

28. Bitcoin
Anti-inflationary currency

29. Bitcoin
Only one of the many
massively-successful experiments

30. What’s the future?
Whatever we build it to be.

31. Economics
Finance
Accounting
Cryptography
Computer Science
Mathematics

32. Fintech
The leading edge of all things 🤑

33. Let’s talk
kingsidharth