A STUDY ON EVOLUTION OF MONEY FROM ANCIENT COMMODITY MONEY TO DIGITAL CURRENCY AND THEORIES REGARDING ORGIN OF MONEY

Authors

  • Sreyas Santhosh
  • Lijo Varghese
  • Vivek M Suresh
  • Jithin Samuel

Abstract

By exploring the history of money, this paper describes the transition from former commodity money to today’s electronic money. After introducing three major theories regarding the origin of money the development of payment system is outlined. It includes the overall change of payment system from commodity money to cryptocurrencies. In this study we include vast information about the theories regarding origin of money, stages of evolution of money, some cryptocurrencies include our findings about the future of money. Additionally, it is indicated why innovations of current payment technologies are tremendously important with respect to economic aspects such as electronic commerce.

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Published

2021-05-21