Money is a medium of exchange that is widely accepted in transactions for goods, services, and debts. It serves as a unit of account, a store of value, and a standard of deferred payment. Money is a critical component of modern economies, enabling the efficient exchange of goods and services among individuals and businesses.
Throughout history, various forms of money have been used, such as physical commodities (e.g., gold, silver, salt) and representative money (e.g., paper notes backed by precious metals). However, in modern times, most countries have adopted fiat money as their official currency.
Fiat money is not backed by a physical commodity but derives its value from the trust and confidence people have in the issuing government or authority. It is the most common form of money used today and is typically in the form of coins and banknotes.
In addition to traditional forms of money, digital currencies have emerged with the rise of technology and the internet. Cryptocurrencies like Bitcoin, Ethereum, and many others operate on decentralized networks and use cryptographic techniques to secure transactions and control the creation of new units.
Overall, money is a fundamental concept in economics and plays a vital role in facilitating trade, investment, and economic growth in societies.
Below are blog posts about money
THE COMMERCIALIZATION OF CHILDHOOD (2008) – DOCUMENTARY
BLACK ROCK and VANGUARD
How does a blockchain work – Simply Explained
