The End of Money: Exploring currency's essence in the digital age

In an age where Bitcoin and electronic payments are becoming commonplace, the very concept of traditional money is being questioned. A new book, "The End of Money" (화폐의 종말), authored by former economics reporter Lee Wan-bae, delves into the fundamental nature of currency and contemplates its future.

The book embarks on a 5,000-year journey through the history of money, examining 15 distinct forms of currency. It meticulously traces the evolution of monetary meaning and value, from the cowrie shells of prehistoric times to the gold standard of 19th-century Europe and the digital realm of Bitcoin today. Lee, who has previously authored popular books like "Why Is Instagram Free?" and "The Dark History of Economic Wars," draws upon his extensive experience to present this historical narrative in an accessible style.

"The End of Money" revisits the stories of various currencies from around the world that have faded into obscurity, such as the "silverless silver coin" used in the Roman Empire in the 3rd century and the "Dangbaekjeon" (當百錢) issued in Joseon Dynasty Korea during the 19th century. The book posits that each new form of currency that emerged to replace old ones simultaneously created new systems and structures.

Beyond its function as a medium of exchange, the book argues that money has historically served as a tool for building relationships between people and a channel for conveying emotions. It encourages readers to reconsider their conventional perspectives on money and its multifaceted roles in society. The publication aims to provoke thought on what money truly is and what it should become in the future.