A brief discussion of money will help to solidify your understanding of the mix of finance and technology that we have in the world today.
Basically, we should ask ourselves this question: what is money? Let's think about it for a second; we will find that it's not as easy to define as it might seem.
The textbook definition would claim that money has three main functions, as follows:
- A medium of exchange
- A unit of account
- A store of value
If you are still lost with these definitions, we'll be going into more detail about what they mean in the coming sections.