Chapter

introduction

From digital money by sam

Concepts

1. Money depends on confidence that value can be received, stored, and exchanged.

   "Money depends on confidence that value can be received, stored, and exchanged."

2. Trusted institutions verify transactions and maintain financial records.

   "Trusted institutions verify transactions and maintain financial records."

3. Banks became intermediaries by recording balances, transferring money, and connecting savers with borrowers.

   "Banks became intermediaries by recording balances, transferring money, and connecting savers with borrowers."

4. Modern finance relies on many intermediaries, which can introduce fees, delays, and dependency.

   "Modern finance relies on many intermediaries, which can introduce fees, delays, and dependency."

Sub-chapters

• test