The genesis of money or currency can be traced back to the acient days. From that period to date, Money has evoled due to civilization and technological advancement. Cryptocurrency has come to stay and i believe it is going to dominate every economy in the world going forward.
Certain countries and federations have assumed opposing posture against cryptocurrency, but with the dispensation we find ourselves in, you dont need to be told cryptocurrency is the way to go.
As i throw more light on evolution of money, i would like us to consider the definition of Money and Currency.
MONEY : It is a current medium of exchange in the form of coins and banknotes.
CURRENCY: It is a system of money in general use in a particular country.
In the early days, certain commodities that were widely acceptable by most societies were recognize as means of payment for goods or services. These objects were also used in paying for marriages, fines and Denys. Early forms of commodity money were animal skin in Alaska, salt in West Africa, cattle in East Africa, shells in Thailand and tobacco in America. Beads and cowries were also used in Africa for payment of goods or services.
With time, these objects became inconvenient for the people at that time, because they had difficulties in splitting commodities into smaller amount or units. The second problem had to do with storage of these items for a long time.
As a result of these constrainsts, most societies started to use precious metal, such as gold and silver.
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