From Barter To Bitcoin: Tracing The Evolution Of Money

Jul 23, 2024 Toshani Adhikary

For over 5000 years, money has been essential to human history, evolving through various forms and uses

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Here’s a look at how the use and nature of money have transformed throughout history

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The earliest trading system, based on the principle of two desires happening at the same time

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Goods and services were directly exchanged under the barter trade system

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The commercial value was derived from precious metals like gold and silver

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Minted coins crafted with gold and silver were used in trade transactions

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Over time, government-issued paper banknotes gradually replaced gold and silver coins

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Being based on authority and confidence, government-issued currency

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The late 20th century saw the emergence of the concept of cryptocurrency

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By introducing the idea of a decentralized peer-to-peer payment system, digital currency achieved a noteworthy milestone

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