“For years, people kept their currency in the bank. But that was currency; money was something different. Throughout history, gold and silver had been linked with wealth. Currency only represented the physical metal money. But history showed us over and over what happens when more currency is created than the gold and silver it represents. End of the Greek empire, end of the Roman Empire, end of all the great empires. Greed, war, unemployment, and they kept printing currency. Nothing to back up the useless bits of paper or worthless coins. Caused a right old mess every time.
“Well, there it went again at the end of the American Empire. History repeated itself, and when the banks got into big trouble they took money straight out of the people’s bank accounts. That really shook people’s confidence in the mighty banking systems.
“But this time round, technology had jumped in and created something completely new. ‘Cryptocurrency’, they called it then, digital money. They’d reinvented it all. Not only could you transfer funds at a fraction of the cost, but you could protect what was valuable without having to trust the bank. It was private, and it worked. What’s more, it brought banking facilities to the billions in the world who had no previous access. Caused a hoo-ha in the governments and financial worlds once they saw it had taken hold, mind you.
“It started with Bitcoin. Lots of other currencies followed, and some did very well. Had its ups and downs, but it was a good start to our token system. The people themselves placed value on it and had faith in it and it was the market itself that agreed on a price for this money. In the old world of finance, long before your time, young man, no one ever knew who was manipulating what.
“And there were versions that reinvented the whole business model. Digital companies. Brilliant. And it kept the monopolies out, too. Some were innovations to raise digital funds for new projects in return for a share of the success of the project. Gave so many new ideas the start they needed. Molly told me you‘ve invested in your pal’s Hatty Band.”
“Yes, yes, Henry’s band, Mickey Mad Hat. A bunch of friends got together and supported their launch and now they’re paying us! My parents made some great investments in some of these digital companies years ago. The dividends they pay covered all my expenses through college.”