1 Summary and Goals

Before we can think about what cryptocurrency is, we have to consider more generally what is money? Why does this otherwise useless piece of paper or metal gain some value because of

2 Required reading

• Kiyotaki & Wright, “On Money as a Medium of Exchange” Journal of Policital Economy, 1989

For the CS students, you should only really read carefully the abstract, introduction, and conclusions sections. If you want to delve into more detail, that’s great!