History of money. One article, two eras: the emergence of cyber currencies - the evolution of means of payment

One article, two eras: the history of money and the emergence of cyber currencies. — History of money: the path from ancient exchange systems to decentralized currencies. Treasures of the Past, Currencies of the Present: The History and Future of Money

The history of money is an amazing path paved by humanity from antiquity to modern times. This path reflects not only technological progress, but also a change in people’s perceptions of mediums of exchange, leading us to new forms such as smart tokens and cybercurrencies.

The history of money is a fascinating journey, from simple natural exchange of goods to intelligent financial monetary systems:

The emergence of the first means of payment was associated with natural exchange of goods, which began with barter, when people exchanged goods directly. Grain and oil became one of the first means of exchange.

However, this was inconvenient due to incompatibility in values and instability of exchange rates. During the Middle Ages, the variety of coins reached its peak, and even in Rus’ unusual forms of money were used, such as animal skins.

Therefore, over time, jewelry and metal money appeared — such as gold, silver and copper.

These metals were used to create coins, they became practical and had intrinsic value and were easily portable. Initially, the coins were of an imperfect shape, but then the government intervened, standardizing the process. Metal coins were used until the 19th century.

In the Middle Ages, paper receipts appeared, which were backed by promises to contribute gold or silver.

Subsequently, paper receipts evolved into bank documents and became increasingly popular means of exchange, as they were lighter and more convenient to use than coins or other heavy items. In the 18th century, bank notes and bills appeared. French minister John Law proposed the issue of notes of credit in 1716, although the project failed. However, this idea became the starting point for the development of paper currency.

In the 19th century, global standards became important and gold replaced other metals. By the end of the 19th century, most countries had moved to the gold standard. Gold became the basis for world payments.

With the development of central banks in the 19th century, a new level of control over emissions emerged. Banks became a monopoly on the issue of banknotes, providing them with gold.

In the 20th century, many countries switched to fiat money — money not backed by physical goods. They are based on trust in the issuer, most often the state.

The abandonment of the gold standard in various countries and the transition to fiat currencies are the key events. The US dollar became the world’s reserve currency after World War II, and the Bretton Woods system temporarily pegged world currencies to the dollar, which in turn was pegged to gold.

However, in the 1970s, the world abandoned the gold standard, and currencies began to be backed not by metals, but by trust in the issuer. This led to free exchange rates and the transition to a modern fiat money system.In the 20th century, the use of fiat money, which is not backed by physical assets, became widespread. This has led to a digital evolution in the financial system, where most monetary transactions are carried out electronically. With the development of technology and the advent of electronic means of information transmission, including the Internet, electronic money appeared. Electronic money is different in that it exists only in digital format and does not have a material form such as coins or bills. At the end of the 20th century, plastic cards appeared to simplify payments, and contactless payment technology added convenience to everyday life.

They have become an integral part of economic systems, form relationships between people and determine the cost of goods and services. However, it is important to remember that money in itself does not carry any morality or evil. They are simply a means of exchange and store of value.

According to the Keynesian and monetarist schools of economics, the amount of money must be greater to improve the economy. However, this idea is based on the concept of money as an objective and unchangeable quantity, as opposed to goods, which have their own subjective value. Bourgeois money, these instruments of exploitation, as tools in the hands of crooks and swindlers, have become an integral part of the machinations of corrupt elites, crooks who have penetrated into power. This understanding is affirmed on the basis of the concept of money as an objective quantity, devoid of variability, in contrast to goods, which carry a subjective value. In reality, simply inflating the money supply only leads to superficial economic growth and does not contribute to real development. Budget financing methods such as issuing new fiat notes (essentially an inflation tax) or increasing government debt are both destructive to the economic well-being of citizens. Especially in the modern era, when government obligations and social payments become fundamental sources of budget deficits. In other words, this is a real robbery on the part of corrupt bureaucrats who have infiltrated power, violating the principles of decency and justice in their selfish pursuits for their own benefit.

In the 21st century, cryptocurrencies such as Bitcoin, based on blockchain technology, come onto the scene. They offer a decentralized and secure method of exchange. Smart currencies such as Ethereum enable the creation of smart contracts and software applications based on the blockchain.

The evolution of money continues, and with each new step we see the increasing influence of web 3.0 technology on the financial system. Cyber tokens represent the next stage in this evolution, combining the virtual and the real, combining technological progress and changing people’s perceptions of a medium of exchange. Cyber tokens have additional capabilities, such as weaving smart contracts and security guarantees into the obligation.

For the first time in human history, we can tokenize time into smart accounting contracts. Tokenizing time into smart accounting contracts means that time becomes a digital asset that can be exchanged and used for various purposes. Thus, cyber money allows people to manage their time more efficiently by providing the opportunity to pay for services and receive rewards for their time.

At the time of publication of this material, cyber tokens represent an extreme stage in the evolution of money, reflecting the symbiosis of the virtual and the real. They allow us to use blockchain technology to create and exchange unique digital assets that can have various applications in our modern lives and economies.

Cyber money provides a fast and secure exchange of value, bringing this symbiosis of the virtual and the real into a new era. They enable instant transactions and interactions across online and offline spheres, combining the best aspects of both worlds. In addition, blockchain technology brings additional guarantees to the security and transparency of transactions with digital assets. It provides a secure record of all transactions and allows users to easily track their transactions and balance.

With the advent of cyber money, not only the evolution of the financial system occurred, but also the transformation of the way people interact, both in the virtual and in the real world. In the new context, smart values such as “like”, “dislike” and “love token” have become unique symbols of social status and virtual interaction. Cyber value on the blockchain represents not only a technological innovation, but also a sociocultural shift in public perceptions of value and interaction.

Like, Dislike and Love Token:

These digital coins are a form of expressing feelings and valuing content in the virtual space. Likes indicate approval, dislikes indicate disagreement, and love tokens can be used to express special admiration and recognition. They have become the currency of virtual interaction, allowing users to express their emotions and opinions more clearly.

Users now have the opportunity to rate content, express their feelings about it, and interact with other users on a new level. Like, dislike and love token become not only indicators of mood, but also real currencies of information exchange and interaction.

Users can organize around certain topics, blogs or projects based on ratings and exchange of virtual currency. This leads to higher quality, more meaningful content and increases user engagement and influence online.

Cyber coins have become not only a means of expression, but also a kind of indicator of social status in the virtual world. Users who have a lot of likes and love tokens can be considered influential and popular online. Thus, a unique “Alter Ego” of each user is formed, reflecting his virtual status and contribution to the online community. Users who create valuable content face questions of fair compensation for their work in the form of cyber coins. The like economy creates an ecosystem of attention where user attention becomes a valuable resource. Those who create high-quality content can attract more likes, which in turn increases their virtual status and can lead to additional opportunities. The emergence of new values and their connection with the blockchain creates the anthropology of a new digital being. The number of likes and virtual love tokens can serve as a kind of virtual citizenship.

Users with more digital wealth may have higher social status in the online community. Using blockchain allows you to create a transparent reward system.

Each like or love token is actually recorded on the blockchain, ensuring the indisputability of data and the ability to accurately track labor contributions.

The anthropology of a new digital being is expressed in the subject’s ability to interact with the virtual world.

Likes and love tokens become an integral part of personal expression, forming a virtual self in the online space. Virtual values are becoming an integral part of everyday life, influencing mixed reality decisions and interactions. Virtual and real life become closely interconnected, enriching a person’s experience in both worlds.

Thanks to blockchain technologies, coins, “like”, “dislike” and “love token” have become not just abstract expressions, but also means of maintaining connections and relationships in cyberspace. A new attribute has emerged in the exchange of information and the expression of social status in online networks. This attribute represents a cyber currency that has become an integral part of virtual interactions. Blockchain oracles and smart contracts allow users to interact with each other, make new connections and maintain relationships using digital values.

We invite you to make your first cyber transaction now. Support the material you like or offer your own suggestion. Focus on the people who advance progress and contribute to a just society and become part of a unique cyber history.

Thank you for your contributions to the future of cyber connectivity!

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I hope this guide was useful to you! ✨

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📝 Legally digitized goods: how can blockchain and tokens simplify the management of legal documents and payments related to legal processes?

💳 digital monetary assets: how can blockchain tokens speed up the payment process and facilitate global transactions?

🌐Purchase portal platform: How can blockchain tokens be used to purchase goods and services on blockchain platforms?

🔄 barter exchange: how does the use of smart contracts and tokens on the blockchain allow the exchange of goods and services without the use of traditional money?

💰 Hybrid Assets: How can blockchain tokens represent and access different asset classes using a single digital currency?

❤ Feelings and Emotions: How can blockchain tokens be used to evaluate and evaluate the quality of content based on the emotional response of users?

📦 Digital and Physical Goods: How can blockchain tokens be used to purchase both digital and physical goods?

💼 trading: how can blockchain tokens be used to conduct online trading without the need to interact with traditional currencies?