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=== Commerce === | === Commerce === | ||
The demand of individuals and business to trade easily lead to innovations in commerce and finance. In 9000 BC people bartered goods they had in surplus for things they lacked. Such as bartering cattle, sheep, vegetables and grain. The first known currency was created by King Alyattes in Lydia, which later became Turkey, in 600 BC. The first coin ever minted had a roaring lion. Coins evolved into bank notes around 1661 AD. The advantages of paper money was that it could be mass produced without relying on raw materials like gold and silver, but its value is more unstable than precious metals. The first credit card was introduced in 1946. The first decentralized digital currency Bitcoin was invented in 2009 and wireless payments gained popularity | The demand of individuals and business to trade easily lead to innovations in commerce and finance. In 9000 BC people bartered goods they had in surplus for things they lacked. Such as bartering cattle, sheep, vegetables and grain. The first known currency was created by King Alyattes in Lydia, which later became Turkey, in 600 BC. The first coin ever minted had a roaring lion. Coins evolved into bank notes around 1661 AD. The advantages of paper money was that it could be mass produced without relying on raw materials like gold and silver, but its value is more unstable than precious metals. The first credit card was introduced in 1946. The first decentralized digital currency Bitcoin was invented in 2009 and wireless payments gained popularity. The invention of money and commerce has been essential to developing trade networks, fostering cooperation and understanding between different cultures and peoples across the world.<ref>[http://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-of-money-from-barter-to-bitcoin.html The history of money: from barter to bitcoin - Telegraph.co.uk] | ||
</ref> | </ref> Entrepreneurship and innovation lead to the industrial revolution in 1760 AD and the Digital Revolution in 1970 AD with inventions like digital electronics. Commerce brought people and countries together through mutual cooperation, division of labour and trade. | ||
=== Colonialism and Imperialism === | === Colonialism and Imperialism === | ||