Hosts: John and David Thompson

Hosts: John and David Thompson

Episode Summary: In this episode of SMPL Money, John and David explore the evolution of money from its origins in bartering to modern-day digital currencies like Bitcoin. They discuss the fundamental properties of money, their personal experiences with money growing up, and speculate on the future of money and financial transactions.

What You'll Learn:

• The essential functions of money: store of value, unit of account, and medium of exchange.
• John and David's personal histories with money, from physical cash to digital transactions.
• The potential future of money, including cryptocurrency and digital banking.
• The impact of technology on financial transactions and the possibility of a return to barter-like systems through digital means.
• Insights into the rise of digital wallets and online banking, and the potential for blockchain technology to revolutionize financial data security.

Timestamps:

• [00:00] Introduction to the episode and hosts
• [01:00] What is money? Fundamental properties explained
• [02:00] John’s relationship with money growing up
• [03:00] David’s early experiences with money and transitioning to digital transactions
• [05:00] The evolution of financial transactions: from cash to checks to digital
• [07:00] Future of money: cryptocurrency, blockchain, and digital wallets
• [10:00] The impact of inflation on money and potential alternative transaction methods
• [12:00] Skepticism and adoption of new financial technologies
• [14:00] Modern money features and the importance of digital security
• [16:00] The role of open banking and blockchain in future financial systems
• [18:00] Introduction to Savology: a financial planning tool

Resources Mentioned:

• Savology

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