Over the past years, mankind has created many things around us that have become the most critical part of our lives. Without those things we might not be able to continue our normal lives as we speak now. Therefore, it is important to remember the first thing that man created was money. The word “money” is such a strong word that it has power and control over many things, hence, it would be a nice walk down memory lane, as to how the money system has changed over the past decades.
History Of Money
It is stated that the first creation of money which is called currency was in the form of coins. The thing that differs the value of coins was the material it was made from. Like silver and gold. Silver and gold coins are both equally valuable, and with that amount of money one can own almost anything.
The emergence of the first currency happened almost centuries ago during the Mesopotamian era where the dates reach about 600 to 650 B.C. In addition, during the existence of such currency, there was a new system introduced to make use of that money, it was called the barter system.
Historians have suggested that during the age of human history, the use of the barter system was the only way in ensuring that people would get what they want. Therefore, the barter system which is known as trading goods or services in return for something. For example, a fisherman can trade his fish with a meat farmer for some meat. This was the situation of how the barter system took place centuries ago.
Moreover, their involvement with currency soon changed the way of the barter system, where people were able to buy things that they wanted, but it is also recorded that the barter system does indeed take place even with the arrival of currency.
Transition Of Currency
As we all know, the existence of currency dates back to the beginning of human history, therefore currency and money has been part of our lives from the start. In addition, nowadays currencies are all made of paper materials compared to the old ages, it was only made of silver and gold in the form of coins.
After the evolution happened, the transition of currency has changed from coins to paper currency, which is what we are using in this current lifetime.
But the new addition to this modern era is the internet convenience that it has brought to us in allowing us to utilize like virtual paying, mobile banking, ATM machines to withdraw money, and e-banking system Malaysia which has upgraded the way money works.
Compared to those years, people have to meet up with bankers, or money handlers in order to get their money. With that said, when comparing both lifetimes, this modern era has helped people in many ways in dealing with their money. Because, with the help of e-banking system Malaysia which is introduced by banks like Hong Leong Bank, everything is now around our fingertips.