Businesses Are Modernizing the Payment Services with the Help of Blockchain Technology

[EthanLian]

All over the time, payments have been an integral component of human civilizations. Initially, the payment system has changed periodically from barter to the present era of digital payments. During 1200 BC, people were using livestock, grain, and cowry shells as currency. Definitely, the barter system could only operate in primitive societies.

Previously, the gold has become the most well-known form of commodity money, which has played an essential role in the international monetary system. The gold coins probably circulated as currency in many countries before the introduction of paper money. Paper money backed by precious metals followed commodity money. Finally, the world started to the use of government-issued fiat currency.

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