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Ripple Effect: The Rise of Crypto | Campbell Harvey and Neha Narula

Knowledge at Wharton

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The Evolution of Money: Trust and Digital Transformation

This chapter explores the historical evolution of money, emphasizing its nature as a collective fiction grounded in societal trust. It examines the implications of cryptocurrencies on traditional monetary systems and highlights how the value of currencies, especially fiat ones, relies fundamentally on shared belief rather than physical backing.

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