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Evolution and Future of Money

Money is a recognized unit of measurement that facilitates trade, evolving from the barter system to coins introduced by the Lydians and later to paper money in China. Today, cash usage is declining as credit cards and mobile payments become more prevalent due to their convenience and security. The future may see a further shift towards digital payments, potentially with innovative methods like payment bracelets for children.

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21 views2 pages

Evolution and Future of Money

Money is a recognized unit of measurement that facilitates trade, evolving from the barter system to coins introduced by the Lydians and later to paper money in China. Today, cash usage is declining as credit cards and mobile payments become more prevalent due to their convenience and security. The future may see a further shift towards digital payments, potentially with innovative methods like payment bracelets for children.

Uploaded by

zemiak2020
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MONEY

When you think of Money you probably think of a Bill or some sort of currency.
Today i will be telling you more about where it came from and ho its used
today.

What is Money?

Money is something that has recognised value, wich means it doesnt have
value on its own but rather represents the importance placed on it. Its a unit of
measurement. It was introduced to make trade easier.

Money in the Past

Money wasnt always a thing. The first purchases were made by trade. This was
called the Barter system. For example when someone wanted to buy some
eggs they couldnt just go to the store. They had to find someone who had eggs
and wanted to trade for them. Clearly this syastem had some problems. If the
person who wanted to trade the eggs didnt want what you had you would have
to trade with someone else and it would be very hard. To fix that the Lydians
were the first ones to introduce coins in 650 BC. These coins were made out of
electrum and stamped with a lion head. They were called the Lydian stater.

Introduction of paper Money

It was first introduced in China in 618. But the first officially issued paper
Money was in 960. This Money was called the Jiaozi. The first time paper
Money was issued in Europe was in Sweden. Then England recognized the
benefits of paper momney and spred them through Europe.

Benefits of paper Money

One of its best attributes is being light weight and easy to carry. Especially
when handlind bigger purchases. Also the government can controll the Money
supply more easily. Paper Money also helped expand trade.

Problems with paper Money

There were also some problems with paper Money. At first counterfeiting
became easier, bu then they stopped counterfeiting. Inflation also became
a problem because people were producing too much Money too quickly.
Now i will show you some currencies in different countries and you will gues
the name of the currency

How is Money used today?

Today people pay with cash less and less and pay with credit cards and phones
more.

Benefits of having a credit card

Paying with credit cards is very easy and quick and you dont have to carry cash.
Its also accepted in every part of the world.

Benefits of paying with a phone

Just like paying with a credit card its very quick and easy but its definitelly more
secure. Its also widely accepted with Apple pay, Google pay and more apps.
This is a contactless method of payment.

What i think will happen with Money in the future

I think in the future people will pay wth cash only if they dont have a credit
card or cant use a phone to pay yet. Maybe they will invent a type of bracelet
that kids can pay with where parents can set a budget for a child. I also think
basically everyone will be paying with phones and people will stop using credit
cards so often.

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