The History behind the Currency.
                     THE HISTORY BEHIND 
THE CURRENCY
INTRODUCTION
Money, in and of itself, has no actual value; its 
value is symbolic because it conveys the 
importance that people place on it.
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Transition From Bartering to 
Currency
• Bartering is a direct trade of goods and 
services. 
• Slowly, a type of currency involving easily 
traded items like animal skins, salt, and 
weapons developed over the centuries. 
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Chinese Create Object That 
Resembles Modern-Day Coin
• Around 770 B.C., the Chinese moved from 
using actual usable objects as a medium of 
exchange to using miniature replicas of 
these same objects that had been cast in 
bronze. 
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Official Currency Is Minted
• In 600 B.C., Lydia's King Alyattes minted 
the first official currency. 
• The coins were made from electrum, a 
mixture of silver and gold that occurs 
naturally, and the coins were stamped with 
pictures that acted as denominations.
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Transition to Paper Currency
• Around 700 B.C., the Chinese moved from 
coins to paper money. 
• However, banks eventually started using 
paper banknotes for depositors and 
borrowers to carry around in place of metal 
coins. 
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First paper currency
• The first paper currency issued by European 
governments was actually issued by 
colonial governments in North America. 
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The Emergence of Currency Wars
• The shift to paper money in Europe 
increased the amount of international trade 
that could occur. 
• The competition between countries often 
led to currency wars, where competing 
countries would try to change the value of 
the competitor's currency.
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Mobile Payments
• The 21st century has given rise to two 
novel forms of currency: mobile payments 
and virtual currency. 
• Mobile payments are money rendered for a 
product or service through a portable 
electronic device, such as a cell phone, 
smartphone, or a tablet device.
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Virtual Currency
• Bitcoin , released in 2009 by the 
pseudonymous Satoshi Nakamoto, quickly 
became the standard for virtual currencies.
• The appeal of virtual currency is it offers 
the promise of lower transaction fees than 
traditional online payment mechanisms.
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Conclusion
• Despite many advances, money still has a 
very real and permanent effect on how we 
do business today.
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