How Money Evolved? | Barter System to Cryptocurrency | Banking Awareness & Economics #parcham

How money Evolved? | Barter System to Cryptocurrency | Banking Awareness #parcham This video will teach us about 'How Money has been Evolved'. We will start by understanding the 'Barter System' and its limitations that led to the evolution of 'Commodity Money'. Shifting to commodity money, was helpful for large transactions but was challenging in small transactions and to carry this money for long distances. This led to the evolution of 'Metallic Money'. Metallic Money increased the role of government in the circulation of money, and people started understanding the economics of Metallic Money. However, due to the low availability of precious metals, the economies shifted to Paper Money. Initially, the Paper Money was backed by the 'Gold Standard Era', where the currency was backed by gold. After the Great Depression, the economies and the failure of the Bretton Woods Conference, the economies switched to 'Fiat Money' with no backing of gold. With 'The third Industrial Revolution', the world started to become globalised and hence, the world observed the development of 'digital infrastructure' for the rapid transfer of information essential for electronic payment. This led to the initiation of 'Electronic Money'. With increasing internet connectivity and the development of Artificial Intelligence, people have started developing 'virtual currency' or 'Cryptocurrency'. In this way, money as a medium of exchange has evolved from the 'Barter System' to the 'Cryptocurrency'. *********************** 👉 Class’ PDF link: https://parchamclasses.in/product-cat... https://brua.short.gy/6mACim *********************** Important Playlists 👉 2024 Daily Current Affairs Playlist: https://bulf.short.gy/a2cOmP 👉 2024 Weekly Current Affair Playlist: https://bulf.short.gy/69ousX 👉 2024 Finance & Banking Weekly & Monthly Current Affairs Playlist: https://bulf.short.gy/HMydDU 👉 2024 Monthly CA Playlist: https://bulf.short.gy/EWxP6x 👉 2024 - 6 Months Current Affairs: https://bulf.short.gy/ozEN5g 👉 2023 Yearly CA Playlist: https://bulf.short.gy/mqIX0u *********************** Current Affairs Subscriptions: 👉 Annual Current Affair Subscription (2024): https://bulf.short.gy/Q5RL85 👉 CA Raftaar - 6 Months Headlines (Jan to Dec 2024): 👉 App: https://bulf.short.gy/6025XE 👉 CA Raftaar - 6 Months Headlines (Jul to Dec 2023): 👉 App: https://bulf.short.gy/G7zDq2 👉 Website: https://bulf.short.gy/Kqre2h 👉 Sawaal – The CA Objective Monthly e-Book (Annual Subscription) 👉 App Subscription Link: https://bulf.short.gy/9zERQS 👉 Check out individual PDFs on https://parchamclasses.in/sawaal/ *********************** Important Course Subscription 👉 SSC GA Course- Target 2024 - https://bulf.short.gy/sscga2024 👉 5-Year SSC PYQs - https://bulf.short.gy/sscpyqs 👉 Parcham App Store Section: https://bulf.short.gy/4oafOx 👉SSC Polity - https://bulf.short.gy/sscpolity2024 *********************** 👉 Amazon Product links: Anti-Slip Desk Mat Mouse Pad: https://amzn.to/4cpEA92 Creative Pebble 2.0 USB-Powered Desktop Speakers: https://amzn.to/3PuEnau Mizi AirPods - https://amzn.to/3x6AO4g Hykes Knee & Calf Compression Sleeve with Anti Slip - https://amzn.to/43uqqzu ASTRIDE Rapid High Bar Chair/Kitchen Stool (Black) - https://amzn.to/3PwVKrg Torche Wall Mounted [40x16 inches] Folding Table - https://amzn.to/3TuzD62 Corazzin Garden Patio Seating Chair and Table Set Outdoor Balcony - https://amzn.to/3TrnHlx GRIFFIN Basket Ball Ring - https://amzn.to/3Tjt6uM *********************** Social Media Links 👉 Instagram:- https://instagram.com/parcham_classes... 👉 Facebook Page:-   / clanparcham   #parcham #parchamclasses #parchamcurrentaffairs #currentaffairs #dailycurrentaffairs #dailycurrentaffairsinhindi #weeklycurrentaffairs #bankingandca #financeandeconomicnewsca #todaycurrentaffairs #octobercurrentaffairs