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Introduction to Money

In: The Regulation of Mobile Money

Author

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  • Sunduzwayo Madise

    (University of Malawi)

Abstract

This chapter provides an introduction to money. The chapter analyses the origins and nature of money, evolution of central banks and the transition from the gold standard to fiat money. The chapter then analyses the standards and qualities of money, making a distinction between economic money and legal money. The chapter also discusses the nature of the payment system and the role of its various players. Apart from providing an overview of the historical development of money, the chapter also looks at emerging forms of money and the challenges these new forms of money present. For example, most forms of digital forms of money like Bitcoin are private money and not state-regulated. Is this a signal of a shift in the sovereign foundations of money?

Suggested Citation

  • Sunduzwayo Madise, 2019. "Introduction to Money," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The Regulation of Mobile Money, chapter 0, pages 15-61, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-13831-8_2
    DOI: 10.1007/978-3-030-13831-8_2
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