财经作文

(1) commodity money
In the primitive society,many items have been used as commodity money such as naturally scarce precious metals,gold,silver, shells, barley etc., as well as many other things that are thought of as having value. Money was definitely regarded as the tool or the medium of exchange commodity, just like the form of barter trade, which could satisfy the demand of daily life whose produtivity level was domined by simple natural agriculture . The rational explaination for this primeval form of money is that payment system is subject to the principal element of technogical development, which was lack of effective manufacturing instrument and was entangled in the behindhand production method such as hunting and gathering. Since the problem with commodity money based exclusively on metals or natural items had caused a variety of inconvenience like transportation or accounting to people, the transformation of money is bound to be born in pace with the technological evolution taken priority to solve the prime trouble.

(2) fiat money
The next phase of money was fiat money , which generally referred to paper money.Fiat money is money whose value is not derived from any intrinsic value that can be converted into a valuable commodity (such as gold). Instead, it has value only by government order which usually declares the currency to be legal tender, making it a means of repayment for all debts, public and private. After the Industrial Age, the increasingly dramatical need for commodity exchange has hastened the transmutation of monetary form from heavy metals to light papers or notes, as the result of rapid expansion of manufacturing industry and growth in living standard brought by advanced technical level. With the progress of science and technology, exchange of gold and silver hardly met the requirement of economic development and acommodated to the fast-changing industrial era, so a new currency trading form was created - industrial monetary system, which which was reliable on papers or notes enfoced by government aimed at mitigating the dilema . And the manufacturing technology of the bill also has had the fundamental changebecause of the technology of the industrial age , making notes has a high technogical content ,majored in order to prevent the production of counterfeit money, so the paper money in industry era is the representative of the monetary system.

(3)Electronic money
Electronic money is the virtualized functions of real monetary value measurement and payment , as well as a kind of no currency the currency of the entity. Electronic currency is a kind of intangible currency on the basis of highly advanced electronic technology. Nowaday, the spread of internet and the popularization of digital devices as computer or phone, as far as we know, has definitely exert a tremendous influence on paying bill electronically and changing money in the shape of digital. In stark contrast , in the past, you had to pay b

ills by paper or checks, but now banks provide websites at which you just log on, make a few clicks, and thereby transmit your payment electronically. It is the thriving bussiness of computer technology and the growing prosperity of electronic payment that constitute mainspring of prevailing electronic money.
We can conclude two form of electronic money.

1. The first form of e-money was the debit card or credit card. Debit cards, which look like credit cards, enable consumers to purchase goods and servicesby electronically transferring funds directly from their bank accounts to a merchant's account. while credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them.With the birth of debit card and credit card, the traditional deposit and loan can be liberated into a more free capital market and can be utilized effeticely. Maybe one sentence can demonstrate a deeper relationship between money and technology," The development of science and technology is predisposed to promote global capital flows ".

2. A second form of electronic money is often referred to as e-cash, which is used on the Internet to purchase goods or services. A consumer gets e-cash by setting up an account with a bank that has links to the Internet and then has the e-cash transferred to her PC. The transaction occurs when comsumer use the digital money from his account to pay bills to the vendor.
For instance, the prevalence of Paypal or Taobao is the proof of people's being the big fans of e-cash.