THE EVOLUTION OF EXCHANGES

The history of the need for exchanges is something that most people are aware of because that's one thing that we could even learn in schools today. Mankind at different times and places, had different ways of exchanging something for another thing...as they say, one man's food is another man's poison and this applies so much to the way exchanges are been carried out. In the first century even up until today, we still make these exchanges but then over time we've come to see that the method keeps evolving (changing).

I remember there was a time when exchange was so easy, if you want my rice and I need your cassava, all we have to do was bring what we both have to a particular place and we make an exchange. This was satisfactory to an extent but we came to see that in this form of exchange, even though you met the need of the yourselves, there is every possibility someone was at the losing end but no one would even care, as long as they got what they want at that particular time.

We also got to see that for exchanges to occur, there has to be a place for this exchanges and we most times call that place a MARKET. The reason why a market was necessary was just so there can be more trust and also if one is lucky, they might get a better offer for their goods or services. Things continue to stay that way for a long time until it got to a point where other methods of exchanges came.

People now started giving more value to some specific things like, gold, silver, cowries and other pearls and things. So now, if someone gives you let's say a cowries or two, it can prove to be worth a bag of rice because it was a precious thing for them at that time. But then it also got to a stage where money was introduced as the main form of exchange across the globe. So if you want to get anything that you want, all you need is money.

Life became more easy and profitable for a lot of people but then we also came to realize that money had so many limitations and that hindered so many exchanges both good and bad. People saw that there was need for something better, secure and faster. One of the major limitations of money was the fact that every country in the world has their own currency and that means you can only do an exchange with someone from another country when you have their own currency.

After much consideration, it was then possible for some to transact with some special cards, all you have to do was fund the card with money and it can work even outside your country but that was not so available to just anyone so it was still a poor means of exchange. And then electric transfers were introduced.

Well, the electric transfers was still like the different currencies but here all you need was a smart phone and nothing else. It was more secure and faster. You don't have to carry a lot of your local currency to a place, you can only carry a little for some quick exchanges and that's all. Using electric transfers was and is still quite favorable for me in my own country but then, since I'm still funding that account with my local currency, I'm still at a loss because the currency keeps losing it's value.

Not just in my country alone, so many other currencies if not all are also losing their value by the day. Now with the invention of crypto currency, things have gotten easier for some people but then due to the volatility of Crypto currencies, most people are still finding it hard to make exchanges with it but then it has proven to be one of the best for some people.

I make use of crypto currencies but the fact that I still have to convert it to my local currency to make use of it makes life the same for me. But if everyone was to accept crypto currency, all I have to do was to transfer some hive or HBD or other crypto currencies for different exchanges. I don't have to worry about my account getting frozen or even worry about the high fees for any exchanges.

Adopting the use of crypto currency will be both helpful and unhelpful because not everyone can make use of Crypto currencies without a guide and that might lead to people being scammed and defrauded. But it would be so nice if everyone all over the country accepted a particular form of exchange. If we have such, I don't have to be worried of how to pay for some expenses in the UK when I visit and also at Mexico when I go for a vacation, all I need is my smart phone and crypto currency in my wallet.

Quite a lot has changed since the invention of exchanges so I'm very positive that it is only going to get better but I doubt if this evolution would stop at Crypto currencies.

Until next time, stay AWESOME and JIGGY!!!