How humans have sent each other money throughout history |

How humans have sent each other money throughout history |

Today, most currencies are electronic, moving online from banks to businesses and even in and out of the Federal Reserve. But, of course, this was not always the case. Before the Internet – even before the telegraph, and before the idea of ​​currency itself – different methods and technologies had to be invented in order for humanity to develop methods of fair trade, compensation and reimbursement. Before developing coin patterns, swap It was the most common means for acquaintances to exchange goods and services; It required the two parties involved to come to an agreement on the innate value of what was to be exchanged.

It is possible that early humans traded directly, bartering fresh food collected or caught to help chop wood or other desirable goods and services. In some civilizations, coin shapes have included shells and stones – including Huge mass flagstones Yap Island State and Almost Sacred Respect Cowrie . Shells in West Africa. Coins emerged as a means of carrying precious metals in a standardized scale, and later simply common metals that were durable in the market.

As societies evolve over time, financial technologies have been developed to keep pace with not only population growth but the emergence of new and dynamic forms of business and commerce. Many of these developments are effectively beginning to replace the need for face-to-face financial transactions, rather than using communication networks to move and transfer money with little need for human intervention.

The global community continues to devise new ways of dealing with its financial exchanges. In another 50 or 100 years, there may be new forms of currency transactions that we can’t even imagine today. He compiled a history of how humans have exchanged money throughout history, from banknotes and wire transfers to blockchain technology and cryptocurrencies.

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