Question

How have we evolved over time to rely upon “non-paper” money to drive economies around the world?

Answer 1

The origin of money started nearly 4000 years ago in ancient Mesopotamia, where people traded goods and services in the form of clay tablets as a way to participate in financial transactions. Throughout his summary he describes other various kinds of money exchange from silver coins, gold plates, sea shells, clay lumps, to the new banknote and credit card scenarios. The transition of money from paper to nonpaper was due to technological innovation whereby payment is in the form of credit cards. The key explanation for this was to curb cash carrying and replace it with a coin. Such modes of transactions enabled life for people across the globe.

The bond market is among the new means of borrowing capital from governments. Also, the Government can sell and buy bonds as a way to raise money. Governments have been able to conduct business worldwide, with the aid of bonds. The world economy has evolved over time to rely on non-paper capital. Non-paper money has accelerated the economy's growth as it increases commerce and maintains a worldwide 24/7 economy. Online payments by electronic banking systems, for example, have significantly expanded trade and propel the global economy in sense. Essentially, the continued evolution of money and the ways of making payments have a huge effect on the global economy