Ever since evolution, humans has been involved in changing the way of how economy works. Change in economy occurs continuously over a period of time and the involvement of human in it. For million years on earth, mode of payments has been evolved from bartering essential food items like wheat and meat to gold and several other precious metals. Trade played an important role in the history of payments and how it worked. Until Iron Age and to an extended period of time, bartering was the major way to exchange goods and services for people because it gave them the sophistication to get what they wanted. For example, someone who has amass of horses can exchange it to buy milk or labors and vice versa. But that sort of bartering didn’t go well since it did not provide the equivalent value of the traded items. Thus ancient civilizations like Greek, Persia, Indus, Maya and various others used beads and shells as coins and then Gold and Silver as the payment mode for trading...
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