Evolution of Money By Brando Arimborgo and Neha Bolla

Evolution of Money

Brando Arimborgo & Neha Bolla

Have you ever asked yourself how humanity spends most of their time working, and in return receive a piece of paper with a person at the front and a number next to it or even further, just some numbers on a screen? This wasn’t always the case, and here is how what we consider money has changed over time.

At first, humans exchanged goods for things they had found. Then they started to cultivate and specialise, resulting in trading becoming a necessity. The issue with trading a good for another is that you assume that both parties would like each other’s product, but if one doesn’t, then the trade doesn’t occur. Now, if in this scenario both parties were trading things they wanted but didn’t need, that would be okay. However, if it’s a matter of exchanging food for a shirt, and one party already has enough shirts, then the person wanting to trade the shirt wouldn’t be able to survive. This results in the need for a third good that both parties want, and mutually agree has value. Money itself in its physical form, or nowadays, in its digital form, has no intrinsic value. It is only given value through a collective belief in it. around the time of the domestication of cattle. Livestock and plant products were used as money since they were durable, long-term, practicable, and scarce.

Alcohol then becomes more popular, along with tools and even limestone doughnuts. If you think about the value of money in the past, you’ll think of commodity money because there is intrinsic value in the commodity itself. From the establishment of the first cities in Mesopotamia (3000 BCE) came clay tablets, recording grain from farmers. These clay tablets represented the value of the grain, allowing them to be used as a medium of economic exchange.

From around 1000 BCE onwards, the first manufactured coins began to appear separately in India, China, and cities around the Aegean Sea. All modern coins appear to have descended from coins invented in the kingdom of Lydia around the 7th century. Paper money was introduced in the Song Dynasty in China during the 11th century. Paper money’s roots come from merchant receipts of deposits, as wholesalers required more convenient and practical representations of value rather than large quantities of coins. Paper money became

known to Europe around the 13th century from accounts of returning travellers from Asia.

The earliest European currency standards were based on the value of silver up until the 18th century. The Brazilian Gold Rush of the 18th century led to a surge in the supply of gold to Britain and Portugal, with Britain adopting Portuguese gold coins and later fixing the value of the Pound Sterling (named as so from its previous fixture to the value of silver) to gold instead. Initially, the British Gold standard spread across the world from use in its colonies. In 1873, the International Gold Standard commenced. Until 1971, the US dollar was directly convertible with gold, and other currencies were either directly or indirectly pegged to it. However, the end of this system has led to most currencies around the world now being free-floating.

The rapid rise of computer technology led to the surge of electronic payments and the domination of virtual credit over physical. By the early 2000s, most money existed as digital currency in bank databases, and digital transactions became increasingly popular due to their ease and efficiency. From exchanging cattle to simply swiping a card, the concept and form of money have come a long, long way.

Now we are seeing money evolve in even more ways, with the development and rise of cryptocurrencies that are not tied to any central bank or regulatory authority. Just as a farmer exchanging grain for a clay tablet could have never imagined people buying tonnes of grain from across the world in seconds, we cannot even begin to fathom the future of money.

The Heritage of Women in Computing

Kimberely Harrison

If you want to gain an indication of how much the world has changed over the past thirty years, a worthwhile exercise is to compare a list of the ten largest companies in the world at the time with one from today. The first thing you would notice is that other than oil giant Exxon Mobil, the two lists share nothing in common. While the 1992 list was dominated by oil (Exxon, Texaco, Chevron) and car (Ford, General Motors) companies, the 2022 version of modern technology brands like Apple, Amazon, and Meta (formerly Facebook).

Of course, this is indicative of the extent to which the past thirty years has been an era of technological transformation. This has been largely driven by advances in computing, in both its software and hardware dimensions, that have changed so much our lives.

While this transformation has been highly profitable for the technology giants that have led it, and has ushered in a generation of highly paid technology workers in certain industries and geographies, it has not benefited everyone. There is much to be said and written about issues like labour rights in the tech-controlled gig economy, or environmentally unsustainable practices that often go into manufacturing some of the most popular consumer products today.

However, there is a particularly under-discussed element to this modern computing revolution: how much of its foundations were built by women and how little of that important heritage is still reflected today.

In Australia, only 29% of those in the technology sector are women. This almost matches the 28.8% figure in the United States, the home of Silicon Valley, and most of the global tech corporations. On current trends, it is estimated that it will take until 2087 for gender parity to become a possibility. Such dismal figures begin in education choices. The enrolment levels for women in computer science university degrees range between 15% and 25%. However, from the very beginning, the heritage of computer science has been inextricably linked with the achievements of female pioneers.

The distinction of “the world’s first programmer” is often attributed to 19th century English mathematician Ada Lovelace. With fellow mathematician Charles Babbage, she worked on designing a theoretical computer known as the “Analytical Engine”. Lovelace’s unique insight was that such a system could be made to follow a series of instructions to perform advanced calculations in a way that would allow complex information to be represented.

In the mid-20th century, computing advancements became more tangible and testable, especially as part of large government programs. One of the pioneers of this period was Dr. Grace Hopper, a US Navy rear admiral, who led the programming efforts in the Harvard Mark I computer, a unique general-purpose electromechanical computer that was initially used to help the US military operations in WWII. Her research then led to the critical development of compilers, the method by which human-readable programming languages could be converted into machine code.

As software development moved from government labs into commercial uses, women were also leading the field there. The world’s first services company working with computers was started by four female software engineers in 1955. In 1957, Elsie Schutt started one of the first software companies in the United States (Computations Inc) as an all-women business

which encouraged its workers (who were primarily young mothers) to work part-time from home while their children were young and then join full time once their kids grew up.

These are only a few examples of many. Women were not only the key pioneers of the early computing industry, but they also formed the majority of its workers. The growing opportunities in the field meant that the number of women majoring in computer science continued increasing steadily from 1960 to 1984.

This all began to change when the personal computer revolution kicked off in the 1980s. As computers and gaming consoles became popularised, two distinct factors pushed women away from the field. The first is that high-paying jobs in computing were now seen desirable to men and no longer “women’s work”. This led to a reframing of hiring standards that attached perceived “masculine” traits to the profile of an ideal programmer, particularly in senior roles. Secondly, advertising for personal computers and gaming consoles directed at households often encouraged them to see these devices as purchases for their sons to play with, and this had a profound impact on popular culture, leading to a gendered perception of the role of a computer in middle-class households.

In more recent times, technology companies and governments have made some efforts to encourage more women into the field. While these efforts are commendable, we have a long way to go in undoing the damage that has been done, which has kept many women away from the dominant industry of the 21st century.

An industry that they helped build.

Robotics for Erotics

The Tech Advancement of Sex-Bots

Crystal Ngo has multiple electronic devices. She does not want to have sex with any of them.

It’s the year 2050. You come home from a long day at work. You throw your keys on the counter, put on your VR headset, and sit on the couch. Finally, some me time. Before logging onto your favourite game, you check your social media messages. You receive a text from a friend you made back in university. You open the message. They tell you to turn on the TV – one of their inventions is about to go up. You sigh…and turn it on.

To your surprise, sex robots are on sale! The voice-over tells you these sexbots not only sleep with you through the late hours of the night, but they also laugh at your jokes and can have intelligent conversations. “Sign up now, and you get 20% off your first order. Two thousand dollars. Pretty cheap for the perfect companion.”

And you think it’s disgusting. Who would want to have sex with a robot?

Your phone rings. It’s your friend. Annoyed, you answer. You: To be honest, I think it’s a terrible idea. Who would buy this?

Friend: Hmm... maybe I can change your mind. Let’s go back in time. To the year 2022.

You hear a zap and the Time-traveller 3000 sends you tumbling and swirling back to the past.

*Cue Back to the Future soundtrack*

Scared, dizzy, and confused. You are back at the beginning of 2022. The COVID-19 pandemic is still infecting the world, causing people to be more glued to their phones than ever. The pandemic has led people to rely on technology for work and socialising. But, unlike the future, people are yet to transform their lives within the Metaverse - using virtual reality to work, date, and even have sex.

You look down at your hands and notice their plumpness. You realise you are back in your twenties. Your knees don’t hurt, and you feel

fit and strong. Then, in an instant, a robot appears and tells you its name is Sally, sent to you from the future.

Sally: Hello. I’m Sally. I’m a sex robot from the future. I was sent here to meet with you. To talk to you about...well, me.

You: I saw your kind advertised on TV in the future. But I was confused. What are sex robots?

Sally: Sexbots are human-like full-body artifacts created for sexual purposes. Unlike sex dolls, sexbots are embedded with Artificial Intelligence technology, which means we are intelligent enough to learn from experience. We can even talk about science and philosophy, tell jokes, and are equipped for intimate relationships. Making us ‘the perfect companion.’

Scared, you ask: Are robots good? Or bad?

Sally: I mean, I might be biased, but I think I’m nice? Thanks to engineering and computer science, I can be just like you. I want to have conversations, and I like to have sex. Don’t you?

You tremble, trying to stop the trembling in your hands, you put them in your pockets.

Awkwardly, you reply: Ah... I mean, yes.

Sally: Great! Let me tell you more. I am part of the future of sex. But, my sister, or maybe even grandmother, Harmony, was one of the first sexbots to be invented. In 2017, Abyss Creations created Harmony. The sexbots phenomenon took off, and the company made millions. This year there are many more just like her. In the future, there will be even more. Needless to say, these sex robots are made by men, for men.

You: But Sally, will this not lead men to perceive women as sexual objects?

Sally: Sex robots have always been

Sexbots are human-like full-body artifacts created for sexual purposes.

controversial. Many scientists have argued about the dangers of human and sex robot relationships and the possible abuse that may inflict on human partners. Additionally, it is thought that sexbots may socially isolate people from human intimacy. However, some scientists believe sexbots are safe, sexual, and emotional outlets for people who want to harm others.

You: I saw an article about sex robots, explaining that men treat them like objects having no empathy for them. That’s morally problematic!

Sally: Rather than being a sex object, I think I’m helping someone with their intimacy. As I say this, I know that I am programmed to think this way.

You: This totally goes against my morals. It’s just plain weird!

Sally: Sex robots may not be what we consider to be ‘traditional.’ They might be the farthest thing away from our traditional ways of thinking. But just because it’s untraditional doesn’t mean it’s not up for discussion.

Now it’s up to you. Do you conform? Or do you act against it?

ISLAND

Georgia Grubelich

People went to the island for the creatures. “Nobody knows why or how,” my mother told me. “But the animals on that island never stop growing. The birds there fly like aeroplanes. The whiting are the size of sharks. I saw a komodo dragon there once, only to realise it was a skink.”

For years I had heard and read the stories. Pelicans the size of pterodactyls; snakes as thick as the trunks of palm trees; frogs that grew as big as motorbikes. Someone had even once spied a free-tailed bat as big as a hang glider. Every creature on that island grew to unimaginable sizes, and still, after a hundred years of studying, no one could explain why.

And the day I finally went, after sixteen years of researching and wondering, I found out the answer.

It had been a calm day, and the water swayed gently. It guided our ferry to the island, which, as we got closer, I realised didn’t look all that special. The ocean encompassed the reefs, which encompassed the shore, which encompassed the land. Some roofs could be seen if you squinted, and somewhere in the distance, a lonely lighthouse protruded into the sky. From the outside, you could almost forget it was magic.

Once we disembarked, the ferry volunteer pointed me in the direction of the lighthouse. “Take your time to explore,” he said. “Don’t forget to bring water and stay on the path if you’re going to the island’s centre.”

“What’s at the island’s centre?”

“The animals tend to get larger the further inland you go. Some of them have become so big they’re considered dangerous, but they tend to keep to themselves as long as you stay on the path.”

asked.

“Yes and no,” said the volunteer. “It depends on who you ask.”

His words echoed in my head as I trudged to the island’s centre, doing my best to ignore the now avocado-sized flies that licked my skin. The path was fenced on either side; beyond it, the woodlands seemed endless, a mess of brown and green that went on forever. The path, too, kept going, and going, until, after what felt like months of walking, I spotted a small, rickety wooden sign that read, ‘The heart of the Island — 500m.’

“Has anyone ever died out there?” I

The heart of the island. The island’s centre. I pushed on, not entirely sure of what I was expecting to find, and, after conquering yet another hill, I stopped.

The woodland had come to an abrupt end, and in its place stretched out a plain, dry clearing of hard-packed dirt. Something stood in the middle of it. When I realised what it was, a vice-like grip of fear seized my heart.

In front of me was a creature. Not one of the overgrown animals; this was something new. It was imposingly tall, and its limbs were spindly, with a crooked neck and hunched tight shoulders. Its black skin was stretched too thin over its bones and clinging to its skeletal body were tattered rotting robes. It turned its head towards me and I found myself staring into two glowing yellow eyes.

Who are you? It asked me in a voice unsuitable for this world. Get away from here. Only then did I notice it was holding something in its deteriorating hand: a tiny red-capped robin, crimson as a cranberry, teetering on both feet in the creature’s palm.

You cannot help it, the creature said. This animal must join the others.

Somehow, I spoke, and I spoke without thinking, “You’re the one making the animals huge. Aren’t you?”

Yes, it said. I feed them. I remind them. Of the tragedies that happened here.

My brows furrowed. “Tragedies?” But then I remembered what the volunteer said. I asked, “Did someone die out here?”

The creature turned to the robin and leant down, its neck twisting with a creak and a crack, and kissed it on the head. I stood, mouth agape, as the robin suddenly flapped its wings and, in an instant, completely filled the haggard hand it sat in. It tweeted, and I could hear that it was sad.

Many have died here, said the creature as it lifted the robin high. It flew off into the wind, much larger than it had been a moment ago. My people were killed by yours. Brought from the mainland as prisoners. Look around you. See their faces.

In my shock and horror, I hadn’t noticed the hundreds of gravestones that encircled the clearing we were in. I turned and turned and turned some more, finding them all; hard and grey and bothered they stood, halfeaten by the wind and salt. None of them bore any names.

I feed the animals my grief, explained the creature. The grief never stops growing, so neither do they.

So, I thought, this is where they come from. It filled me with a sadness I didn’t know I could feel.

You must go now, said the shadowy beast. Leave the island and never return to it. You and your people should stay far, far away.

Without a word I turned, more than happy to comply with its demand.

Leave us now, it called out as I walked away. But, please, whatever you do, don’t forget the faces. Remember them. Forever.