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LET'S PRACTICE

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Money Morph Timeline Let’s Practice! Place the following Money Morph events in order on the time line: • Bitcoin founded

• credit cards & electronic money goes mainstream • China uses paper money • The Fed is founded • European governments issue paper money • China uses shells for money • U.S. issues paper money

• Widespread use of coins in China • Egyptians use metal rings for money • U.S. goes off the gold standard to fiat money • Barter is king • Cashless society...? • Use of cash drops to 7% of transactions in U.S.; 3% in Sweden

Use of cash drops to 7% of transactions in the U.S.; 3% in Sweden PRODUCT PREVIEW Bitcoin VC founded U.S. goes off the gold standard to fiat money Credit cards and electronic money goes mainstream The Fed is founded (U.S.) 2013 2008 1971 1950-1960s 1913

Cashless society...?

The Future…

U.S. government issues paper money

European governments begin issuing paper money

China uses paper money

1862

618-907

1700

Widespread use of coins in China

Lydians mint the first coin

China uses shells for money

200 BC

Egyptians use metal rings for money

700 BC

1200 BC

Barter is king!

2500 BC

 10,000-3000 BC

62

Lesson 4 | The Money Morph

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