{"id":602377,"date":"2019-03-26T03:45:39","date_gmt":"2019-03-26T03:45:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history\/"},"modified":"2019-03-26T03:45:39","modified_gmt":"2019-03-26T03:45:39","slug":"how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history\/","title":{"rendered":"How did we come to accept paper money? A web-series by Extra History"},"content":{"rendered":"<p><b>How did we come to accept paper (and now intangible crypto currency) as legit forms of payment?<\/b> Although we all pay for products and services with our debit\/credit cards or cash on a daily basis without a second\u2019s thought, it has certainly crossed many of our minds how and when the human race began to place so much value in a piece of plastic or paper. The history of money doesn\u2019t begin with actual paper bills: it began with barter and slowly evolved into \u2018commodity money\u2019 and specie (coins), which gave way to commodity-backed IOUs, transformed into \u2018fractional reserve banking\u2019 and credit money, moved all the way to abandoning the gold standard, and finally culminated in what we call today plastic or digital money. After trying countless systems and currencies and grappling with different theories, we finally came to accept money as \u201can idea, rather than a thing.\u201d<\/p>\n<p><b>Fun fact:<\/b> \u2018Shell money\u2019 \u2014 in the form of cowry shells \u2014 not gold, is actually the most successful form of currency, and one that was used for the most expansive period of time. This six-episode season from YouTube-based web series Extra History runs through the history of money and similar interesting tidbits of knowledge. Start with the first episode <u><a href=\"https:\/\/www.youtube.com\/watch?v=-nZkP2b-4vo\">(runtime: 8:14)<\/a><\/u>, and binge through the rest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How did we come to accept paper (and now intangible crypto currency) as legit forms of payment? Although we all pay for products and services with our debit\/credit cards or cash on a daily basis without a second\u2019s thought, it has certainly crossed many of our minds how and when the human race began to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":602378,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9004],"tags":[104,72,412,2388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-watching","tag-economy","tag-enterpriseam","tag-history","tag-worth-watching","wpautop","entry"],"acf":{"mongo_id":"6a64f0bd-9929-4bd7-803b-38995439ed6d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/3\/1548.jpg","photo_position":"above","related_issue":[602357],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How did we come to accept paper money? A web-series by Extra History - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How did we come to accept paper money? A web-series by Extra History\" \/>\n<meta property=\"og:description\" content=\"How did we come to accept paper (and now intangible crypto currency) as legit forms of payment? Although we all pay for products and services with our debit\/credit cards or cash on a daily basis without a second\u2019s thought, it has certainly crossed many of our minds how and when the human race began to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-26T03:45:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/3\/1548.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/how-did-we-come-to-accept-paper-money-a-web-series-by-extra-history\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"How did we come to accept paper money? 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You may have heard of research findings that beyond a certain level of income, the amount of extra happiness we get from extra cash tends to flatten out. But how we spend our surplus cash is\u2026","rel":"","context":"In &quot;Worth watching&quot;","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/352.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565345,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/04\/the-lockdown-has-been-good-to-money-launderers\/","url_meta":{"origin":602377,"position":2},"title":"The lockdown has been good to money launderers","author":"enterpriseam admin","date":"4 April 2021","format":false,"excerpt":"Money laundering has flourished during the covid-19 pandemic: While the pandemic has put a dent on much business activity worldwide, lockdown measures have presented criminals with the ideal situation to commit laundering offences, said the US\u2019s Financial Action Task Force \u2014 the intergovernmental watchdog for financial crime \u2014 according to\u2026","rel":"","context":"In &quot;Worth watching&quot;","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/323.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594237,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/23\/netflixs-rotten-is-back-for-season-2\/","url_meta":{"origin":602377,"position":3},"title":"Netflix\u2019s Rotten is back for season 2","author":"enterpriseam admin","date":"23 October 2019","format":false,"excerpt":"Netflix\u2019s Rotten is back for season 2: Netflix\u2019s great docu-series on the hidden economic, and often destructive, forces that lurk in the global food industry, is back and on its second season. This season definitely topped the last with a look at foods that have a much wider global significance.Want\u2026","rel":"","context":"In &quot;Worth watching&quot;","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/10\/2692.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564890,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/planet-money-dives-into-renewable-energy-storage\/","url_meta":{"origin":602377,"position":4},"title":"Planet Money dives into renewable energy storage","author":"enterpriseam admin","date":"4 March 2021","format":false,"excerpt":"What good is solar energy if we can\u2019t store it? Solar energy storage remains a sticking point that has long stood in the way of a transition to a fully solar-powered economy. 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