#basics_the Evolution of Value

From Tangible Currency to Digital Assets

From the Earliest Civilizations to the Digital Age: The Evolution of Value and Money

Throughout history, money has played a crucial role as a tangible representation of value. Far from being a mere tool for exchanging goods and services, money also serves as an indicator that measures what society deems valuable.

When one person transfers money to another, they are not just conducting a material transaction; they are sending a profound message about the intrinsic value of what is being exchanged. This act reflects a philosophical and economic evaluation of the importance attributed to the transaction's object. Money, in its essence, transcends its role as a medium of exchange; it is a vehicle of value and an expression of gratitude and mutual appreciation. This transmission of value through money strengthens social relationships based on trust and collaboration. Each transaction thus becomes not only a material exchange but also an encounter of mutual needs and desires, generating value within the community. Historically, different cultures have used various objects as symbols to represent their monetary systems, from shells to feathers. Although these forms differ, they perform the same fundamental function: representing and communicating value in a society.

The advent of the Internet has revolutionized how communities communicate and exchange value. Pierre Lévy, a French philosopher, introduced the concept of "cyberculture" to describe this new cultural reality born from interaction with digital technologies. This cyberculture is not just a collection of technological tools but represents a new approach to thinking and interaction based on sharing and communication. In this context, geographical barriers dissolve.

We can connect with anyone, anywhere, share ideas, collaborate on projects, and form communities based on common interests. This digitalization has also influenced how we perceive and exchange value. Value is no longer tied solely to tangible goods but can be transmitted and received in increasingly dematerialized forms, represented by new paradigms.

The web can be seen as a cake with different technological layers, the latest known as the World Wide Web, a collection of virtual spaces where people share and access information. Over time, the web has undergone several evolutions in line with technological advancement. Specifically, the World Wide Web has gone through three eras:

- Web1, representing the first version of the Internet, where sites were static and did not allow user interactions.

- Web2, where sites enabled user interactions, such as e-commerce and social media.

- Web3, the latest iteration of the web, where users not only interact with the Internet but also own the data created and shared online.

Web3 has three fundamental characteristics:

1. It involves the user in the blockchain, a distributed ledger that acts as a global accounting register to manage user balances on the network.

2. It utilizes digital assets as means of exchanging value within the network.

3. The network's administrators are not single entities but entire communities of people scattered around the world who participate in defining rules and maintaining information over time.

Web3 has taken shape thanks to blockchain and the computational protocols introduced on the network. The two main ones are Bitcoin and Ethereum. The Bitcoin network aims to be a computational protocol where users can exchange economic value directly and securely, without intermediaries. The Ethereum network, on the other hand, aims to become a global distributed computer capable of executing computer code without intermediaries. Both use blockchain to record information on the network and digital assets for transferring value between users.

In conclusion, the concept of value has evolved over time. From a strictly physical and offline approach linked to money and currency, it has evolved thanks to the Internet and its possibilities. That's why, as Sella , we constantly commit to innovation, striving to keep up with change to offer security, opportunities, and benefits to our customers.