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People directly traded goods and services. The problems with this was it had no standard value, and hard to find matching needs.
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Societies used valuable goods as money. These items had intrinsic and material value and were widely accepted in trade.
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Lydia was the first country to use metal coins, made of electrum. Coins spread across Greece, Rome, China, and Persia
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China's Song and Tang dynasties used the world's first paper currencies. Spread slowly to the Middle East and Europe via trade.
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European banks began issuing banknotes backed by gold and silver reserves.
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Nations attached their currencies to a certain amount of gold. It ensured stability in international trade but limited governments’ flexibility.
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Introduction od Credit and Debit cards. Online banking and electronic transfers revolutionized how people pay and store money.
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The launch of Bitcoin introduced blockchain-based currency independent of banks.
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Governments abandoned the Gold standard in favor of the Fed. Flat currency has no intrinsic value besides what the government trust gives it.