The dollar currency

As at the time the Bank of England was issues banknotes in Pounds, some of its colonies were still using other currency forms. When the war independence broke, the Americans were using what was then known as the Continental. The dominations of that were in dollars. When the war ended, and ten years of independence, the US Congress passed the law that paved the way for the issuance of dollars as the national currency.

Currency innovations

With the development of the computer and the technology that comes with it, there was a significant innovation in currency. Instead of talking about physical currencies, today,  one can talk of digital currencies.  Purchasing, transfer,  and exchange of currency from one part of the world can be done within seconds because of the computer and internet technology. These days there are different forms of transferring currencies.  Most currencies in the world now existed in the digital form, and all these are transferred in the bank databases. This also makes foreign exchange transactions possible. More about forex in the course of this work.

Today the world is talking of cryptocurrencies. These kinds of currencies are mined,  and they are in various forms. This is the form of digital form. The most popular form of digital currency available in the world today is Bitcoin. The fact remains the currencies are continuing the evolve, and the world is yet to hear the last of it. Perhaps, time may come when the whole world would be under one currency.

About the Author

Payam Zolfagharian

Hi my name is Payam Zolfagharian, I’m a retail forex trader. I will show you how to be a successful forex trader, preserve your capital, generate consistent and profitable returns from forex trading and finally trade for a living.

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