Bartering and commodity money


 In the beginning of the transaction through money.People have used commodity for  succeeding their transactions. Bartering is the exchange of a good or services for another good or services.However, what if you couldn't agree what something was worth in exchange or you didn't want what the other person had? To solve that problem, humans developed what is called commodity money.

 In the past, items such as,
salt, tea, tobacco, cattle, and seeds were commodities and therefore were once used as money. However, using commodities as money had many problems.Therefore people leave that system with globalisation.

History of money

Development of money
The history of money concerns the development of social systems that provide at least one of the functions of money. Such systems can be understood as means of trading wealth indirectly; not directly as with barter money is a mechanism that facilitates this process. Money can take a physical form as in coins and notes, or may exist as a written or electronic account.
Money has been instrumental in how society and commerce have evolved over the centuries. Barter was found to be inefficient, and so humans had to develop another tool that would facilitate trade between people.

At the present, there are many currencies are used for transactions.
1 . Electric money
• Credit card
• Debit card
2 . Digital money
   Examples:
 • Virtual currencies
    Veirtual currency means digital currency that is used within a specific community. It has no real world value and can't use to buy anything in real.
 • Cryptocurrency
      Cryptocurrency means digital currency built with cryptographic protocols that make transactions.

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