Exercise 1: Historical Foundations Assessment

⏰ Time Investment: 30-45 minutes 🎯 Goal: Test your understanding of the evolution of money and trust

📚 Required Reading Integration 📖 Primary: Lesson 1: The Evolution of Money and Trust

🔍 Phase 1: Knowledge Check (15 minutes)

Understanding Check

Answer these questions:

1. What is the Trust Paradox?

• Your answer: _________________________________

2. How did Rai stones function like a distributed ledger?

• Your answer: _________________________________

3. What was the key innovation of the Medici Bank?

• Your answer: _________________________________

4. Why did the 2008 financial crisis expose the hub-and-spoke model's weaknesses?

• Your answer: _________________________________

5. How does Bitcoin combine elements of historical ledger systems?

• Your answer: _________________________________

📊 Phase 2: Comparative Analysis (15 minutes)

Compare and contrast:

• Rai stones vs. Tally sticks

• Medici model vs. Blockchain model

• Institutional trust vs. Programmatic trust

💡 Phase 3: Reflection (15 minutes)

Write a short paragraph explaining why understanding the history of money matters for understanding DeFi.