# Global financial system and its pain points

In this module, our key takeaways will include the scope of digital payments and how it has grown from their beginnings to their present importance. Topics include but not limited to money in retrospective and perspective, how the financial system operates, domestic payments, and cross-border payments.

## Course Objectives

This module contributes to the following course objectives:

1. Identify major problems in payment that can be addressed by blockchain technology

## Module Objectives

Upon the completion of this module, you will be able to:

1. Understand the money history and the transition to digital payments
2. Understand how the financial system operates
3. Explain domestic payments and cross-border payments.

## Activities and Assessments

- Review all the content and references in the module.
- Start working on Discussion 1 and 2.