Bartering was the first form of trade, people exchanged resources and services for the benefit of both sides. Then around 9000-6000 bc livestock became a thing, Livestock was the first form of currency. Around 3000 bc the shekel came up, Shekel is grain used as currency in Mesopotamia, using shekel as a measurement of weight it later evolved to silver, bronze, and copper. The first real modern form of money was first introduced around 1000 bc-600 bc by the Lydians in west Asia minor by making coins out of metal, gold, and silver in exchange of goods and services called crude metal coins. Then around 700 bc precious metal coins were created in turkey to stamped to profile the empires, gods, it was made out of gold and silver. Around 118 bc
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By 1816 they started using actual gold for currency but it was only the rich that had gold and later during 1913 the federal reserve system was created in the united states to establish a central bank as well as gold-backed federal reserve notes. During the 1920s charge cards were created to be used in department stores, hotel chains, and service stations started providing cards to customers with cards so they could get money without going back to your hometown bank to get cash. Then later on during 1950 credit cards were created by the diners club. It was made of cardboard and can be used in more than 20 places in new york. A year later the diners club card garners almost 20,000 users. 8 years after that American express and visa cards were first issued to the public. During 1971 The united states officially go off the gold standard. After paying for the Vietnam war and expanding social programs, inflations were on the rise and the gold standard became severely outdated. In 1994 online shopping was a thing through the official debut of online shopping is debated, one of the first documented internet purchases was a pizza from Pizza Hut through a credit card. After that mobile payments started in 1997 when M-commerce is introduced when coca-cola set up several vending machines that can accept payments through …show more content…
Then 2009 comes along and cryptocurrency was introduced by an anonymous person using alias Satoshi Nakamoto as his fake name to create bitcoin without being known to the world. Bitcoin was created with a really complicated blockchain that ended up being know to a lot of developers and the program that was used to create bitcoin was C++. mobile payments were expected to reach 670 billion dollars by 2015 but it has reached around 910 billion dollars used through m-commerce a year by 2015. In october 2014 apple pay was released then samsung pay was released august 2015 and finally android pay was released december 2016 and that was pretty much a built in app that comes with your phone that you can connect your credit card with your phone that allows you to pay for your goods and services through a really fast algorithm that allows you to pay with your fingerprint or face whether it’s online or in-store it has so much encrypted information with a really high weissman score to compress and encrypt your information that it makes it easy and safe to pay online with your phone without letting your credit card information
By 1816 they started using actual gold for currency but it was only the rich that had gold and later during 1913 the federal reserve system was created in the united states to establish a central bank as well as gold-backed federal reserve notes. During the 1920s charge cards were created to be used in department stores, hotel chains, and service stations started providing cards to customers with cards so they could get money without going back to your hometown bank to get cash. Then later on during 1950 credit cards were created by the diners club. It was made of cardboard and can be used in more than 20 places in new york. A year later the diners club card garners almost 20,000 users. 8 years after that American express and visa cards were first issued to the public. During 1971 The united states officially go off the gold standard. After paying for the Vietnam war and expanding social programs, inflations were on the rise and the gold standard became severely outdated. In 1994 online shopping was a thing through the official debut of online shopping is debated, one of the first documented internet purchases was a pizza from Pizza Hut through a credit card. After that mobile payments started in 1997 when M-commerce is introduced when coca-cola set up several vending machines that can accept payments through …show more content…
Then 2009 comes along and cryptocurrency was introduced by an anonymous person using alias Satoshi Nakamoto as his fake name to create bitcoin without being known to the world. Bitcoin was created with a really complicated blockchain that ended up being know to a lot of developers and the program that was used to create bitcoin was C++. mobile payments were expected to reach 670 billion dollars by 2015 but it has reached around 910 billion dollars used through m-commerce a year by 2015. In october 2014 apple pay was released then samsung pay was released august 2015 and finally android pay was released december 2016 and that was pretty much a built in app that comes with your phone that you can connect your credit card with your phone that allows you to pay for your goods and services through a really fast algorithm that allows you to pay with your fingerprint or face whether it’s online or in-store it has so much encrypted information with a really high weissman score to compress and encrypt your information that it makes it easy and safe to pay online with your phone without letting your credit card information