EVOLUTION OF MONEY
The Evolution of Money Simplified.
I don't want to speak too much grammar. I'm going straight to the points.
From a non-money economy (barter system) to the use of commodities ( such as Cowrie, Silver, and Gold) as money.
From the use of commodities to the use of printed papers (backed by a commodity of value like Gold) as money.
From the use of printed papers ( backed by Gold ) to the use of printed papers (back by nothing of value except the faith of our Government) as money.
This printed papers backed by nothing is what is known as Fiat Currency (money without intrinsic value). And that is what most countries are using today (US Dollar, Naira, Euro, etc).
Today the world had gone digital. Money had also gone digital.
- From the use of Fiat Currency to the use of Cryptocurrency (Digital Currencies) as money.
From the above, you will agree with me that right from time, money has always been all about AGREEMENT. Whatever people agreed to accept as means of exchange became MONEY.
Can you now see why Cryptocurrency is Money? We (people) have agreed to accept it as means of exchange. There is nothing you can do about it.
Embrace Cryptocurrency today and thank me later. Nations are already embracing. Some countries like My own Naija are only doing "delay tactics". Just watch out!
Cheers!
~pingzdrake
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