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Prices can be denominated in any asset, and payments go thru a clearing house that matches and settles trades in real time. This is what gave rise to money in
by rokhayakebe 11y ago
Prices can be denominated in any asset, and payments go thru a clearing house that matches and settles trades in real time.
This is what gave rise to money in the first place: "1/14th of my goat for one pound of bread." Before you knew it, different cultures far apart had to use a common denominator (salt, tobacco leaves, nails, iron, stamped metals, etc...) among themselves, and later with other cultures: