Why Do We Need "Money" Instead of Functions of Money?
Lately I have been thinking the question in the post title.
Why do we need money?
So I google'd it and it shows up like this. It's well known of course.
[source](https://courses.lumenlearning.com/boundless-economics/chapter/introducing-money/)Functions of Money Money has three primary functions. It is a medium of exchange, a unit of account, and a store of value: Medium of Exchange: When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange.
I know why we needed money, but I don't see why we need the kind of money that possesses all the above three characteristics.
Why can we just have different things or services that can offer these functions separately?
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Medium of Exchange Well, It's computer era and everything is sold/exchanged online. What medium do we need? Not convincing.
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Unit of Account Yeah, this one does matter. It helps to reduce the complexity of C(N,2) prices to N (When N is huge, this effect is huge). Some will argue or hope that crypto coins like bitcoin can do this. I won't disagree. But I wish to go further. After all, bitcoin is still a 'concrete' thing - you own it through your private key. My idea is that: Why can't we just have a set of index so we can still provide (N) prices for each commodities? How to design this index can be discussed, but the concept should work.
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Store of Value Come on, there have been too many things that can be value vehicles. Stocks, bonds,.. cryptos too... As long as a sufficient amount of people agree to it, it holds value.
So, my conclusion is:
Yes, we can deconstruct 'Money' and set it free.
*pixabay**A whole new financial world is waiting out there for we to explore - *if you can free your mind.
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