Back in time………. There was no concept of currency or money, and probably these words never existed. Back in time there was no valuation of things, it was just give and take… what you can do I can’t do, and what I can do you can’t do… so you give me what you have and I give you what I have, and of course there was no measurement instruments in those days, so things were given without proper valuation and without measurement. Now lets keep measurement issue apart and talk about valuation, later on it came into picture that to make particular thing one needs to put it huge amount of efforts and other person is putting less efforts to do the what he can do, but both are giving each other same of goods or almost same amount of goods, so valuation of both goods were same regardless whether it took huge amount of time to produce 1st product or 2nd product… things were going on, and later on there a concept of Gold coins came in, but yet they were not used for valuation, they were used to give rewards, again no valuation of goods happened, but valuation of work started happening, because of that people understood the valuation o f the goods, and coin age started, transition from barter system to gold coins to coin age never happened instantly it took huge amount of time, and also it never happened everywhere at the same time, at some places it was going through centuries some places it was just introduced and some places they never heard about it. Coin age started valuing the goods, and people started understanding the efforts, value and measurement s of the goods, and started exchanging goods for the coins they have (this is what we still do, but now we call it we are buying).
Now lets look at how things are going… now the era of hard money is going on, bank notes… no coins… and now its going towards Plastic Money what we more popularly know it as Credit Cards, Debit Cards, etc… when we bought something we gave money now when we are buying something we are giving them plastic card to swipe.. and while making payment to a credit card company we are still not giving them money but we are sending them cheque or sometimes cash but most of the time its cheque, when we are giving cheque again transaction of cheque is done digitally no hard money is involved.. they are just numbers going from here to there… and this transition from money to plastic money is happening very quickly, the reason for this is the whole world is connected. Why plastic money is become so popular… if you look earlier people started valuing about the goods but they time was never valuable… now people have started valuing about the value of goods as well as of time… and plastic money saves a lot of time… now there have been huge amount of cases happening all the time regarding fraud credit card transaction, etc… now people needs to also value security… and I see future currency to be my bio genetic print… wherever I am going.. and I want to make transaction… give my fingerprint of any other bio genetic print and transaction is done…. Welcome to the future.
Thursday, November 22, 2007
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And don't forget the QUID, the first intergalactic currency that was announced just a few days ago. :)
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