History



=﻿ History = 

Currency as a monetary has existed for thousands of years. The earliest forms of currency were in the form of grains as an exchange median. Currency during the Bronze

Age was in the form of copper ingots leading the way toward utilization of coinage as a monetary currency in not only copper, but also in gold and silver (Lopez, 2001).



Around 600 AD during the Tang Dynasty paper money came in to existence. Paper money has become the main stable for currency we see today. Today’s technology has allowed us to exchange funds over the Internet through online banking and could lead to the possibility of a global world currency (Lopez 2001).



The concept of a world currency has been around for 70 years and was proposed by John Maynard Keynes. In the early 1940’s, Keynes conceptualized the idea for a world currency called the "Bancor" which never took hold because the dominating U.S Dollar became the standard for international trade (McRae, 1996). The first talks of an International world Currency happened in July 1 to 22, 1944 in Bretton Woods, New Hampshire.

Etymology:

While currency itself has been around for ages, the word itself had not been coined until 1699 by John Locke. The word comes from the word current, which means to flow and the word currere, which means to run (Harper, 2010).

media type="youtube" key="GVytOtfPZe8" height="390" width="640"