Crypto Currencies Ch.1 The Invention and Evolution of Money
Money and Trade are two sides of the same coin. It's history runs as far back as the day humans left behind their nomadic ways to form small communities.The need to obtain things or services from others that they can not procure, produce or gather gave birth to the first trading system. The Barter The Barter system worked for a while. But it's inherent flaws like the inequality of the trade and the lack of easiness in trade made people to look for a better way to make trade. Stones, furs even salt were used as a form of money. The establishment of Kingdoms also gave birth to the minted money. Their value was dependent mostly on the metal that was used to mint the money. Latter the Gold standard came in to prominence. Where the value of the money was dependent on the Gold that the government has in its reserve. This helped in producing the currencies in bulk cheap...