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Friday, 15 February 2019

Currency throughout history ๐Ÿ’ฐ

Image result for aureus
AUREUS ๐Ÿ’ธ

The currency of Ancient Rome typically consisted of coins, made from various metals, such as Gold, Silver, Copper and Bronze. It was first named nummus aureas or denarius aureas. In Constantine's reform of AD 312, the aureas was replaced by the Solidus as the basic unit of currency. The currency included aureus (gold), the denarius (silver), the sestertius (brass), the dupondius (brass), and the as (copper). They were still included as payment in Greek-influenced territories. The Aureas was regularly issued from the 1st Century BC to the Beginning of the 4th Century AD when it was replaced by the Solidus. An advantage with this money was that is was recognisable, but a downfall is that it seems easily counterfeited.  


CHARGE IT CARDS ๐Ÿ’ธ
Image result for charg it cardsCredit cards all began in 1946 with John Biggins Charg it card, it was the first bank card in the United States.  Patrons at upscale stores who didn’t want to carry cash would have their purchases recorded in a ledger book at some stores, but that became problematic as urbanization and larger stores meant that recognizing customers and trusting them to pay wasn’t quite as a reliable method as it used to be. So, stores would provide a means of identification with the name of the store, and perhaps a number to confirm you were who you said you were. These credit indicators were only good at one store, but they were really the beginning of consumer credit in the way we think of it today. It allowed a sales clerk to quickly record an imprint of the information on the card and was popular in malls. A bank issued a card that let people in a two square block radius charge to the bank. The area was limited by necessity- merchants had to leave sales slips with the bank. An obvious advantage was that it was easier to carry around rather than cash, but a downside is that it was bulky and seemed a bit of a hassle to use. 


APPLE PAY ๐Ÿ’ธ
Image result for apple payApple Pay is a mobile payment and digital wallet service by Apple. Apple Pay is easy to use and works with Apple devices. They are used to make secure purchases in stores, within certain apps, and on participating websites. When you make a purchase, Apple Pay uses a device-specific number and a unique transition code. Released in October 2014, Apple Pay seems to have taken the world by storm! I think that it would be so simple just using your phone to pay for all of your purchases, but I think that it would make it easy for people to use your card details to pay for their things. Also, you need to have a compatible Apple device to use it, and I don't really think it's practical anyway. 





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