The Evolution of Money Towards Cryptocurrency

Ohayo! I woke up this morning so early than what I usually does, and it's because I got an upset stomach and went straight to the bathroom. I can't go back to sleep, that is why I just open my Facebook account and watch some random videos. After that, since I have so much time left, I make use of it by writing an article, and I decided to explore my curiosity about how does money evolved from time to time, so here it is! These are the data I've gathered from the internet.

SOURCE

https://www.yourarticlelibrary.com/economics/money/5-stages-of-evolution-of-money/30311

When we heard about money, everything that comes up to our mind is this one.

[Insert cash]But there are 5 stages of money in which are evolving through time, place, and circumstances.

• I. Commodity money

• II Metallic money.

• III. The paper money

• IV Plastic money.

• V. Cryptocurrency.

However, we all know that here in this platform, we are using the future method of money which is cryptocurrency. There are a lot of cryptos, tokens, and nfts that are made digital. And none of us here are ignorant on that matter. Specifically the bitcoin. Which is the world's largest and oldest cryptocurrency. And hereby used as the major of the exchange in read.cash.

Here are the stages of money, you probably had an idea about:

I. Commodity money

Long long time ago, there were no coins and cash. The only demand of the people in that era was commodities. Basically, things and good kinds of stuff like animals, furs, bearskin, weapons, rice, wheat, and more. Which uses the method of bartering.

Cons

Well, there are a lot of things that are needed to be changed on this method of money or bartering. For example, if you want to trade your dog for a tiger. The second trader might not want your dog. So, that's it.

II. Metallic money

Ex. coins

As time goes by, the commodity money has been upgraded into a more convenient one, here comes the metals. Metals such are gold, copper, silver, platinum, and more are made as to the main source of money. Which can be easily handled and quantity can be certain. Through the use of processed metals and are made into various types of coins.

By these means, you can now trade a tiger with these precious metals. Since the tiger is rare, it could be equal to the value of gold or platinum by quantity.

Cons

The resources are finite. It means if you create a coin made out of platinum, it would easily deplete the resources. For example, an old British pound weights 1lbs, then it would eat out 1lbs of specific material needed jeez.

III. The paper money

As we all know, a lot of people have been killed, hostage, and held up for carrying such precious material: The gold coins. So, the government made money out of paper. As that's what we are using today, the colorful bills.

It is only paper and doesn't have value. Some currencies use cotton and don't require a tree to be created. Since the government has the authority, they put a value in it, that's why we can use this piece of paper to buy something. Mainly issued by the Central bank.

IV. Plastic money

I'm pretty sure you had this plastic thingy on your wallet. The reason why this was created is to store your money in the form of credit cards. So, you don't have to carry it anymore. Who likes to carry heavy coins in your pocket? haha, I don't want it, it's so noisy.

Well, through this convenient thing, we can now shop with ease using our fingertips.

V. Cryptocurrency

Finally, This is what we've been waiting for and could be the future! The cryptocurrencies! We all know that, when we talk about cryptos, the first thing that comes up to our mind is that, it's 100% virtual. There is no need for tangible things. All runs as a transfer of digital assets. And the great thing about crypto is, it's not like bank accounts, which keep separate records for each user. For crypto? There's only one enormous spreadsheet that is been used for every user, and every one of us will have our copy of the spreadsheet. Where we could visualize every transaction, whoever they are doing such transaction. The pumping of the coin and the dipping of it. The current balance and rate. Everyone can keep an eye on it - and it is called a ledger.

It's a huge jump we had since the earliest stages and ages. Doing contrary to what is usual could bump up to greater things. And now we're in the future and nearer! Thanks to the developers of money, we can now access almost everything without selling or trading any tradable stuff.

Closing thoughts;

I am not that expert about this matter but it's still quite fulfilling because my curiosity towards money has been solved, all credits to the source!

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All images are taken from google.com