Electronic Value Exchange cover

Electronic Value Exchange

10 min read 14 min listen Narrated by Sophie
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What’s it about?

Discover the hidden cooperative architecture behind the credit card network—a system built not by a single genius, but through decades of messy compromise and shared infrastructure that powers every tap and click.

You’ll learn

  • How a neutral cooperative solved the coordination problem
  • The real innovation: the four-party model
  • Why interchange fees are the system's economic engine
  • How trust and risk management built a global network