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Newstrail
*s Money A Service Or An Asset?*What is money?As a general rule, money refers to any object that acts as a medium of exchange for goods and services and as a means of repaying debts within a specific socioeconomic context. There are five types of money: commodity money, fiat money, fiduciary money, commercial bank money, and crypto-currency like Bitcoin, Bitcoin cash, Oduwacoin, etc Historically, commodities such as rare metals, barley beads, conch shells, and other items of value have been used as money. Commodity money derives its value from the material it’s made of. Money is a commodity it…
