Chapter 1: Ledger’s as the Foundation of Money (Taylor’s Version)
1/ Money consists of coins and bills. Right? Actually no. If you rewind history, money begins as a ledger.
2/ A ledger is just a record of who owes who what. Imagine a primitive Swiftie village where everyone excels at a specific skill and helps each other out.
3/ In this village, you’re great at making Taylor fan art, while your friend is a pro at getting concert tickets. You both keep a mental score of what you’ve given and received—no cash needed, just trust!
4/ If a big concert is coming up, you might say, “I’ve made a lot of art for you, can you get me an extra ticket?” Your friend is probably going to get you the ticket. This works because everyone trusts each other. No physical bills are exchanged. It’s all about keeping a mental ledger.
5/ Now, let’s level up: Your Swiftie group (we’ll call this Group A) is known for fan art, but another group (Group B) many miles away makes Taylor-themed enamel pins. You want to trade, but you don’t know them and can’t trust they’ll deliver.
6/ To solve this, both groups agree to use bracelets made of rare beads as currency. Let’s pretend these beads are found in nature. They also vary in size and color. They might look something like this:
7/ To create a bracelet, Swifities must first collect the beads, polish them and drill holes into them. This takes work. It makes the bracelets tough to replicate and nearly impossible to fake.
8/ Since they are hard to fake, bracelets become the currency everyone trusts. This system is like real history, where ancient tribes used shell beads for trade. Why? Because a tribe member could just request beads from someone instead of an undesired item until they came across they actually wanted. Our Swifties operate the same way.
9/ In our Swiftie world, beads are the ledger. But who controls the ledger? As we have stablished, nature dictates how many beads exist, making it hard to cheat the system. You earn beads by creating and trading value, like fan art, but you can’t just create more beads out of thing air. This keeps the system honest.
10/ The question of who controls the ledger has been an important one throughout time. History shows that whoever has the most advanced technology controls the ledger. What do we mean by this?
11/ Well, imagine another highly intelligent Swiftie group (Group C) develops a cutting edge technology to make realistic counterfeit beads. They can flood the market with these beads, effectively controlling the supply and value of all the beads being traded.
12/ In short, Group C now has the power. They use this power to taking advantage of others without creating more value. For example, they might ask for more fan art from Group A without having to produce anything for them in return.
13/ The lesson? Whoever controls the ledger, controls the game. That’s why money’s history is so important—it shows us the power of trust and fairness in trade. As we’ll see in later chapters, other Swiftie communities must adapt or lose.
14/ For a deeper dive into this subject and more, check out the book “Broken Money” by
@Lyn Alden , which you can purchase here:
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