Question

explain how money evolved from barter system to digtal payment method 10 point

Answer 1

Answer:

With the evolution of digital currencies, traditional paper and coin currency systems may soon face the same fate as the barter system. Fiat currencies, backed by the issuing government, are subject to theft and devaluation from inflation, whereas digital currencies are secure through encryption and are a hedge against inflation.

Digital currencies are decentralized and have considerably lower fees for international transfers. They are also readily accessible, expediting payments and transfers. As more retailers and businesses accept digital currencies, their popularity increases, and the likelihood that they will eventually displace fiat currencies is inevitable.