[vc_row][vc_column][vc_column_text] The story of the evolution of money from barter to what it is now is never complete before the role played by commercial banks is highlighted. While the practice of safe-keeping and storing savings had been around as early as 2000 BC in Babylon, the term ‘bank’ only started to be used around 1640 …
So far, we have covered the history of money from its barter origins through the use of cowrie shells and bronze coins to how gold and silver came to represent money. We have also covered the most significant events and individuals that had the most impact on the evolution of money into what it was in the 19th century.
The success of Lydian Stater spread to Europe, and in particular Greece, where the potential of money as a system of mutual trust was copied, adapted, and rapidly improved in the 6th century. The result was the profound transformation of the Greek economy, the growth of its cities, and the emergence of a more sophisticated society.