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Money

Overview#

Money is Currency and both are a form of a Commodity and can be used as Medium of exchange that is verifiable

Some folks imply that Money is a Store of value and Currency is a Medium of exchange.
So if Alice takes Money and exchanges it with Bob then Money is Currency

Many modern references list only three functions, that of

Money is Any Entity or verifiable record that fulfils these functions.

When Money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange and thereby avoids the inefficiencies of a barter system.

Money's most important usage is as a method for comparing the values of dissimilar objects.

Paper Money#

When the Venetian merchant Marco Polo got to China, in the latter part of the thirteenth century, he saw many wonders—gunpowder and coal and eyeglasses and porcelain. One of the things that astonished him most, however, was a new invention, implemented by Kublai Khan, a grandson of the great conqueror Genghis. It was paper money, introduced by Kublai in 1260.

More Information#

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