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Piatok, 20. mája 2022
The History of Money
Dátum pridania: 10.11.2002 Oznámkuj: 12345
Autor referátu: kurtica
Jazyk: Angličtina Počet slov: 774
Referát vhodný pre: Stredná odborná škola Počet A4: 2.3
Priemerná známka: 2.98 Rýchle čítanie: 3m 50s
Pomalé čítanie: 5m 45s

After year 600 Chinese as the first nation introduced the paper money. They placed the emperor's seal and signature on a crude paper made form mulberry bark. This was the first attempt to avoid the falsification. The paper notes grew in production to the point that their value rapidly depreciated and inflation soared. In about year 1260 in Italy the first watermark came into existence. Later, watermark was used as a very important item to avoid falsification of bank notes.

The next area we are dealing with is e-money. What is it? It is a form of money that does not exist physically, but only as an information stored in a chip of smart card or on hard disk of your computer. This is possible due to the cryptography and digital signatures. What are the possibilities for paying for goods ordered via Internet? The first one, used mostly in the US, is sending credit card information over the Internet in plain (not encoded) form. This method brings very high risk of misusing this information, and today this type of payment is considered mad. A second type of a credit card-based system uses an ID number to purchase goods, rather than sending the actual credit card number on-line. The ID number is obtained by pre-registering a credit card number with a third party who is responsible for maintaining the integrity of that information. Now let's turn to Euro. It started its function on 1.1.1999. It's a common European Union currency. Euro area Member States began implementing a common monetary policy, the Euro was introduced as a legal currency and the 12 currencies of the participating Member States became subdivisions of the Euro. But after 30.6.2002 national currencies won’t be valid. Together the European Central Bank and the Euro area national central banks are known as the Eurosystem.

To put it briefly, money developed from the bartering to its today's form and will be still developing until the end of the civilization.
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