The History Of Money – From Shells To Cryptocurrencies
From Shells To Cryptocurrencies– The History Of Money
Money is an important part of our lives. It is something that happened before we were born, so we’re treating it as something normal, something that existed since the beginning. Certainly, this is not the case, because today we’re going to explore how mankind went from rocks to paper to digital currencies. Any phase was motivated because of the need for more efficient alternatives, the rocks were far too primitive, the coins quite heavy, the notes lost due to credit cards. The newest source of money is cryptocurrencies, and it seems like they’re going to stay for sure.
The First Currency
Back in the ancient days, there was nothing like money. If you were to get something that belongs to someone else, you could either rob it (not suggested) or exchange something which you had. Somebody’s got the wheat you need? Offer them a chicken and make a bargain about it. However, there was a big issue with this method. What if the seller of the wheat was a vegan? There were no vegans back then because lack of food compelled people to consume anything they could eat without exemptions, but you understand, we can make conclusions here. So, a vegan will never consider chicken, but you don’t have anything more to do with it. The only key is to implement the third party to consider chicken for something a vegan person would really take. This way, we’re selling chicken, we’re going to get the thing, and we’re going to go over to the wheat owner.
The entire process could be very inconvenient, particularly if you need to meet a few people who make the buying process more like a chain of shops. People wanted something better, easy to use. And of that, they created something that we call money today.
What Was The First Type Of Money?
Various historians and researchers had different views on which coin was the very first. Some cultures used objects that had the meaning of their own (like tool parts), others utilized rocks or cowl shells. It’s the source of a lot of arguments, but let’s not explore it here. That being said, they largely accept that the very first man-made coin was crafted in the Mesopotamian civilization about 5000 years ago.
It’s something so common to us that we’re not seeing it as a huge deal, but it was a revolt back then. Small, round stuff you can exchange for something in the world, without bringing livestock or plants-how awesome is that? Obviously, this approach wasn’t ideal, the coins aren’t weightless, but the more you’ve got, the tougher it’s to fly with them. People used to have to take another step forward.
How Long Have Cheques Been Around?
Different nations established different currencies, but all of them shared one thing in common-the coins were made of copper. It might get very heavy, as you think, as someone grew richer. But what if you did not bear the money on your own, but the promise that you have it? You’re sending the coins to a bank called organisation, and they’re giving you a special message. They put the details about how much money you kept in their vault on that note.
Today, rather than taking a few kilogrammes of metal, hide the note in your pocket and exchange for it. The individual you paid will only go to the same bank, give them the note, and then get the “real” money-the coins. This innovation took place in the United States in the 17th century and was labelled “cheque” or “check” Checks are still utilised in certain countries, though most of the world is used to bring such types of paper parts with a predefined value. You’ve actually got some in your pocket right now!
When Was Paper Money Invented?
From the checks mentioned above, there was a simple way to remember that we should only leave metal coins after all and start trading on paper notes. Let’s label them “banknotes” in the context of the institutions that make them because we have the capital that we still use today. This type of “payment method” is really very young relative to others-it was only about 100 years ago. We’ve got light, quick money, but we can do even better.
When were bank cards introduced?
People sometimes refer to it as “plastic money” Credit/debit cards were developed in the 1950s and are very handy, multi-purpose, personal evidence of getting any money. You do it in supermarkets by bringing it next to the terminal so that the computer can check it and inform the cashier whether you can afford to purchase whatever you want. Light, durable, tiny bank-access cards that encourage you not to care about holding all the money you want.
Almost ideal in that they need you to trust the institutions absolutely. You don’t have the leverage of your own assets, what if the bank tries to lock your account? You can’t do it until you’re allowed to do so. There is a cost in the form of protection for convenience, except… something new is taking their place.
Why Bizzcoin Was Created?
Cryptocurrencies are getting more and more popular, slowly becoming considered normal money for everyday use. There is not even a shadow of the initial fear of the unknown. We are happy to see the crypto industry constantly growing. Transactions happening within a couple of minutes, no need to trust anyone, full control over your funds, seems like we’re close to what we can call a perfect kind of money. There is no need to worry about security, in fact, the only disadvantage is that you need to have internet access to pay. However, with growing and being constantly developed infrastructure, it becomes a smaller concern every year.
While cryptocurrencies are considered the future of currencies, there’s no doubt that BizzCoin has taken a step closer to the path of replacing physical cash. In an attempt to create a cryptocurrency universe, BizzCoin offers a host of various features, including using the currency to shop from big brands like Amazon, H&M, etc, as well as for trading. Moreover, with its highly protected wallet and the BizzATM, BizzCoin works as a comprehensive system to meet all your cash requirements.
Delving into the latest trends, you can even earn BizzCoins while playing fun games, while using the currency to book your next travel!
Will Physical Money Survive In The Future?
We, as human beings, have come a long way. Our new payment systems would’ve been unbelievable to anyone who lived a hundred years back. The pace of transition is unbelievable, particularly in the 21st century.
Despite certain doubts, coins and notes are not likely to avoid being used. They’re definitely going to lose some market share, but they’re not going to be discarded too quickly. So how is the average coin going to look like in the future? No one really knows! But, what we do know is that there is no stopping the rise of cryptocurrencies. So, jump on the bandwagon and buy BizzCoin to be a part of the future today!