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The History of Money: From Barter To Bitcoin

Money has evolved over nearly 3,000 years, starting with bartering and the exchange of goods, moving to the first coins created in 600 BC in Lydia (modern-day Turkey). Paper money was later developed in 1661, and credit cards were introduced in 1946. The document traces this evolution from early forms of exchange through modern developments like cryptocurrencies and mobile payments.

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81 views3 pages

The History of Money: From Barter To Bitcoin

Money has evolved over nearly 3,000 years, starting with bartering and the exchange of goods, moving to the first coins created in 600 BC in Lydia (modern-day Turkey). Paper money was later developed in 1661, and credit cards were introduced in 1946. The document traces this evolution from early forms of exchange through modern developments like cryptocurrencies and mobile payments.

Uploaded by

たつき タイトー
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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The history of money: from barter to bitcoin

Money has been a part of human history for almost 3,000 years. From the
origins of bartering to modern money, this is how the system has evolved

Bitcoin was the first decentralised cryptocurrency Photo: GETTY IMAGES

By Rebecca Burn-Callander, Enterprise Editor


11:35AM BST 20 Oct 2014

At the dawn of humanity, bartering was used in lieu of money to buy goods. As early man began to
rear domestic livestock, one of the earliest forms of barter included cattle, sheep, as well as
vegetables and grain.

The first known currency was created by King Alyattes in Lydia, now part of Turkey, in 600BC. The
first coin ever minted features a roaring lion.
Coins then evolved into bank notes around 1661 AD. The first credit card was introduced in 1946.
The infographic below shows how money has developed from these early roots through to Apple's
instant iPhone payments and bitcoin - the world's first decentralised crytocurrency.
Wearable technology is set to disrupt the world of money once more, as Barclaycard trials a
contactless payments wristband.
The advent of modern bartering has brought the system full circle.
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