The history of money: from barter to bitcoin
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The history of money: from barter to bitcoin
Money has been a part of human history for almost 3,000 years. From the origins of bartering to modern money, this is how the system has evolved
11:35AM BST 20 Oct 2014
At the dawn of humanity, bartering was used in lieu of money to buy goods. As early man began to rear domestic livestock, one of the earliest forms of barter included cattle, sheep, as well as vegetables and grain.
The first known currency was created by King Alyattes in Lydia, now part of Turkey, in 600BC. The first coin ever minted features a roaring lion.
The first known currency was created by King Alyattes in Lydia, now part of Turkey, in 600BC. The first coin ever minted features a roaring lion.
Coins then evolved into bank notes around 1661 AD. The first credit card was introduced in 1946.
The infographic below shows how money has developed from these early roots through to Apple's instant iPhone payments and bitcoin - the world's first decentralised crytocurrency.
Wearable technology is set to disrupt the world of money once more, as Barclaycard trials a contactless payments wristband.
The advent of modern bartering has brought the system full circle.
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