This Video is the detailed documentary on the Entire History of Money.
From Barter to Bitcoin.
How Money Became From Nothing To Everything
Latest Documentary : https://youtu.be/3g-6O34lW48
How we created Money and How Money Works,
You are going to know everything about Money.
Barter system , Commodity money , Metallic money , Paper money , Digital money
Documentary in hindi by Science Extraction.
The History of Money
What is money? By definition, it’s something of value. But over the last 10,000 years, the material form that money has taken has changed considerably—from cattle and cowrie shells to today’s electronic currency.
In the Beginning: Barter System
Barter is the exchange of resources or services for mutual advantage, and the practice likely dates back tens of thousands of years, perhaps even to the dawn of modern humans. Some would even argue that it’s not purely a human activity; plants and animals have been bartering—in symbiotic relationships—for millions of years. In any case, barter among humans certainly pre-dates the use of money. Today individuals, organizations, and governments still use, and often prefer, barter as a form of exchange of goods and services.
2500BC: Commodity Money
The earliest commodities that were used as money were barley, wool, and silver in other places and times where people didn’t have access to any of these commodities, they sometimes used other things like oxen in ancient Greece, elephants in Sri Lanka or human skull in Brunei and sometimes even stones.
800 B.C.: Coinage
Outside of China, the first coins developed out of lumps of silver. They soon took the familiar round form of today, and were stamped with various gods and emperors to mark their authenticity. These early coins first appeared in Lydia, which is part of present-day Turkey, but the techniques were quickly copied and further refined by the Greek, Persian, Macedonian, and later the Roman empires. Unlike Chinese coins which depended on base metals, these new coins were made from precious metals such as silver, bronze, and gold, which had more inherent value.
1279: Paper Money
The Mongol Yuan Dynasty, founded by Kublai Khan , issued its own form of paper currency called chao; the Mongols brought it to Persia where it was called djaou or djaw. The Mongols also showed it to Marco Polo (1254–1324) during his 17-year-long stay in Kublai Khan’s court, where he was amazed by the idea of government-backed currency.
1816 to 1930: Start and End of Gold Standard
Gold was officially made the standard of value in England in 1816. At this time, guidelines were made to allow for a non-inflationary production of standard banknotes which represented a certain amount of gold.
The massive Depression of the 1930s, felt worldwide, marked the beginning of the end of the gold standard.
1980s: Digital Money
Digital money (or digital currency) refers to any means of payment that exists in a purely electronic form. Digital money is not physically tangible like a dollar bill or a coin. It is accounted for and transferred using online systems. One well-known form of digital money is the cryptocurrency Bitcoin.
00:00 Skip The Music
01:48 Who is Money?
2:46 What is Money?
3:24 The Journey
4:30 (1) Barter System
7:00 Origin of Accounting
7:58 (2) Commodity Money
9:35 (3) Metallic Money
11:58 (4) Paper Money
13:43 Origin of Banks
15:18 Gold Standard
17:00 1930s Great Depression and Fiat Money
19:11 (5) Digital Money
20:28 (6) Cryptocurrency
22:18 What is Real Money?
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Thumbnail Art : Sheila Terry
I want to thanks all the Music Creators.
Thank you so much without your music this documentary is nothing.
Credits:
Graf: https://www.youtube.com/channel/UC7P2Zdw0wv08Ij3wdISF8uA/featured
J.R.S Schattenberg: https://www.youtube.com/c/JRSSchattenberg
Ansia Orchestra: https://www.youtube.com/c/AnsiaOrchestra
World Music OFCL: https://www.youtube.com/channel/UC0Cf21ahxlbODHpQkrBtVHw
Amal Raj: https://www.youtube.com/channel/UCKp-XxTt5ezVZWyqbPw-3nQ
Argsound Background Music : https://www.youtube.com/c/ArtemGrebenshchikovmusic
CO.AG Music: https://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvA
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