Ancient Times: The Birth of Currency
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Use of Commodity Money 🥖
Year Event 3000 BC Earliest known forms of money, such as barley and cattle, are used in ancient Mesopotamia. -
Shell Money 🐚
Year Event 2000 BC Shells, particularly cowries, are adopted as a medium of exchange in many parts of Africa and Asia.
Medieval Period: The Evolution of Coins
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First Metal Coins 🪙
Year Event 600 BC The Lydians introduce standardized coins made from electrum, marking a shift in trade practices. -
The Birth of Paper Money 📜
Year Event 7th Century AD China introduces the first known paper money, enhancing trade across vast distances.
Renaissance to Industrial Revolution: The Rise of Banking
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Establishment of Banks 🏦
Year Event 1400s Modern banking begins in Italy, leading to a structured financial system for trade and commerce. -
Gold Standard ⛏️
Year Event 19th Century Countries start adopting the Gold Standard, linking currency value to gold reserves.
Modern Era: Digital Transformation
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Introduction of Electronic Money 💻
Year Event 1980s Electronic payment systems emerge, paving the way for digital transactions. -
Cryptocurrency Revolution 💰
Year Event 2009 Bitcoin, the first decentralized cryptocurrency, is introduced, changing perceptions of real money.