The Journey from Barter to Bitcoin

https://coinscapture.com/blog/the-journey-from-barter-to-bitcoin
 The Journey from Barter to Bitcoin
https://coinscapture.com/blog/the-journey-from-barter-to-bitcoin

In the era of the digital world, plenty of things turned digitalized

the games we played and the money we use these days. But ever
wondered how this evolution occurred? To understand, let’s
flashback the journey of Money.

Around 3000 years ago, it started with a barter system - a system

in which people mutually exchanged goods and services. For
example, if you wanted wool and found a sheep owner who was
willing to trade that wool for some kgs of wheat or rice, you
would have to own either wheat or rice to trade. But as time
passed the complexity of the Barter system also increased which
turned into a need to reduce it and for that various other the
medium of exchange like seeds, shells, metal, and coins used.
Each of these had its own advantages and disadvantages.
Finally, there was evolution of money- the Fiat currency that we
use today for our daily activities.

Further, in the 21st Century, two disruptive forms of currency like

Mobile payments and virtual currency were introduced. Mobile
payments included the bill payment of various products or
services through portable electronic devices like cell phones,
smartphones or tablets or sending money to relatives or friends.
 The Journey from Barter to Bitcoin
https://coinscapture.com/blog/the-journey-from-barter-to-bitcoin

Later, in 2009, Bitcoin the first virtual currency was introduced

by the pseudonymous Satoshi Nakamoto. This digital currency
offers the lowest transaction fees as compared to the traditional
online payment. Also, it is operated by the decentralized authority
and has no government authority involved in between. This phase
of complete digitalisation or digital money can change the entire
traditional financial system because:

• Cryptocurrency can be accessed everywhere across the globe

• Being built on peer-to-peer network it is not under the control
of any government or single entity
• It offers the cheapest and the fastest transaction with a speed
ranging from 4-10 seconds.
• This virtual cryptocurrency can help to buy a house or a burger
or an expensive Penthouse.

Due to the above mentioned advantages, there is moving of big

money into cryptocurrency these days and many sectors has
begun adopting it. Blockchain of various cryptocurrencies is used
to power the decentralized applications and as the main functional
unit in different software and operating systems.
 The Journey from Barter to Bitcoin
https://coinscapture.com/blog/the-journey-from-barter-to-bitcoin

Apart from these, many other companies like FedEx, Burger,

King Russia, Walmart, Microsoft and Mastercard have adopted
it and growing their business tremendously. Apart from
these, many social media platforms Sapien, Steemit, Sola, and
Indorse are also taking advantage of these innovative technology.
Facebook- the platform used by millions of us is all set to unveil
its own digital currency (Libracoin) the digital currency
equivalent to the U.S. dollar

Physical currency (Money) has definitely made the world spin for
centuries and till today it represents power and the success of an
individual, but now it’s time for digital currency to make the
world spin with its unique features.