Money is now given its value by government fiat or decree, ushering in the era of enforceable legal tender, which means that by law, the refusal of legal tender money in favor of some other form of payment is illegal. At the height of her empire in the 5th century bc, athens forced all her allies to use owl. It is not a result of brain storming of some economist rather there is a long process of evolution since start of civilization to this modern complicated credit system. Meanwhile, fiduciary money depends for its value on the.
Ppt history of money powerpoint presentation free to. Peter, a young mba graduate joins a large software firm as a business development executive. Fiat money, on the other hand, gets its value from a government order. Suggest possible solutions to challenges in the adoption and use of plastic money in zimbabwe. Plastic is material consisting of any of a wide range of synthetic or semisynthetic organic compounds that are malleable and so can be molded into solid objects. May 04, 2015 evolution of money is probably one of the biggest invention in human history. History and future of plastics what are plastics and where do they come from. Windmills are very important inventions that enabled our ancestors to harness the power of the wind and convert it into mechanical movement that can be used in many different useful applications.
Aug 19, 2019 representative money has now been replaced by fiat money. The money was not invented but it evolved with passage of time according to the changing requirements of economies. Some of the major stages through which money has evolved are as follows. Representative money has now been replaced by fiat money. Plastic money ppt plasticmoney orientation elements. Studycopter is the best way to get your best possible score on exams such as ibps po, clerk, so, ssc, rrb, sbi and gmat.
Use of plastic money in zimbabwe, threats and opportunities. Money is a mechanism that facilitates this process. History of plastic started in the mid1800 when chemist all round the world started experimenting with rubber, striving to eliminate natural ingredients from its recipe natural latex and wanting to make it fully synthetic product that can be mass produced all around the world. Charge cards laid the groundwork for debit and credit cards. Throughout the ages physical money in the form of objects, coins and notes has increasingly been replaced by more abstract means of payment such as bills of exchange, cheques and credit cards. Due to the technological revolution in financial sector, the payments in banking system have undergone a tremendous change. A credit card is a form of plastic money, which allows people to spend now and pay back the money later. Plastic money free download as powerpoint presentation. As the name suggests, a credit card is a plastic payment card that authorizes its user to make a payment on credit. The term plastic money can refer to plastic credit cards, debit cards and eftpos cards, and in many countries, this is the only common meaning, but in some countries, it can refers to the banknotes notes or bills that are made out of a type of plastic that is is floppy and easy to bend, like paper, but it is waterproof, and difficult to tear. The entry of private players and adoption of information technology have brought transformation in the way financial. They can come in many different forms such as cash cards credit cards debit cards prepaid cash cards instore cards 3.
Evolution of money is probably one of the biggest invention in human history. Plastic is a word that originally meant pliable and easily shaped. Ppt history of money powerpoint presentation free to view. In 1887, edward bellamy first came up with the idea of plastic money in his novel, looking backward. From the use of objects to function as monetary value to the development of metal and paper money as currency. Yes, the advantages of plastic money over cash has made it a best friend of many. Plastic surgeons were moving to the forefront of the medical establishment, including one plastic surgeon who was appointed surgeon general in 1969, and another who won a nobel prize. Our new crystalgraphics chart and diagram slides for powerpoint is a collection of over impressively designed datadriven chart and editable diagram s guaranteed to impress any audience. Rather, the story told about the origins and evolution of money is designed to shed light on the nature of money. Money may take a physical form as in coins and notes, or may exist as a. Before that time, it is assumed that a system of bartering was likely used. The emphasis has been laid on the adoption, usage, value attributes, bottlenecks and factors influencing plastic money adoption.
Jul 30, 2019 the four most relevant types of money are commodity money, fiat money, fiduciary money, and commercial bank money. Sep, 2018 the concept of money has come a long way since the dawn of time. History and future of plastics science history institute. The growth and progress of plastic money was assessed to bring up a clear picture of trends in india. Powerpoint presentation on money, paper money, plastic. Lenders like our credit card reliance and have cooked up many ways to help you get the most from your credit card. Money is a mechanism that facilitates this process money may take a physical form as in coins and notes, or may exist as a written or electronic account. The future of money the future of money the future of money moneys destiny is to become digital. May 23, 2014 plastic money refers to credit cards, bank cards, debit cards, etc. The evolution of money from commoditiy money to emoney by susanne konig abstract by exploring the history of money, this paper describes the transition from former commodity money to todays electronic money. This was largely due to lack of plastic money facilities among rural service providers, lack of adequate knowledge on importance of plastic money, low income levels and lack of confidence in the overall financial system. Plastics are persistent largescale pollutants, and plastic debris such as bottles, straws, containers, and plastic wrap and particulates have been found in many environmental niches, from. Money has evolved through different stages according to the time, place and circumstances. While using credit cards, people need to actively remember to pay up the card bill due else interest.
Review of related literature according to patil 2014, plastic money refers to the credit cards or the debit cards that we use to make purchases. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. Jan 28, 2020 the first manmade plastic was created by alexander parkes who publicly demonstrated it at the 1862 great international exhibition in london. Here you can learn more about plastic history and facts.
A study on the importance and popularity of plastic money in. Dec 22, 2016 download our android app to study anywhere, anytime. Dec 01, 2015 an animated video exploring the history of money. Plastics are persistent largescale pollutants, and plastic debris such as bottles, straws, containers, and plastic wrap and particulates have been found in many environmental niches, from mount everest to the bottom of the sea. The first manmade plastic was created by alexander parkes who publicly demonstrated it at the 1862 great international exhibition in london. History of plastics history of plastic started in the mid1800 when chemist all round the world started experimenting with rubber, striving to eliminate natural ingredients from its recipe natural latex and wanting to make it fully synthetic product that can be mass produced all around the world. Commodity money relies on intrinsically valuable commodities that act as a medium of exchange. Plasticity is the general property of all materials which can deform irreversibly without breaking but, in the class of moldable polymers, this occurs to such a degree that their. From trading physical commodities, to paper currency, and now to digital assets, the value of money has taken all sorts of shapes. Dec 16, 2017 plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. The history of printed money is as old, in some ways older, than minted money. A study on the importance and popularity of plastic money. From trading physical commodities, to paper currency, and now to digital assets, the.
The seven advantages of plastic money called as the credit. The number of innovative products for making payment has developed after the privatization and globalization. In the earliest period of human civilization, any commodity that was generally demanded. From the origins of bartering to modern money, this is how the system has evolved. Introduction the development of information technology and emerging a number of new innovations are taking place in the area of retail payments known as electronic money allaham, 2009 or plastic money. The use of plastic money raises many questions on technical security, control and audit systems, most favoured technology to detect frauds and operational problems, foreseeing and plugging the weak spots of the cryptography based system.
It was in the 1950s the concept of plastic money came into being. Plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. May, 2019 money, in some form, has been part of human history for at least the last 3,000 years. How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes. Plastic pollution, harmful accumulation of synthetic plastic products in the environment. The material, called parkesine, was an organic material derived from cellulose that, once heated, could be molded and retained its shape when cooled. Before coins were invented in about 660bce, when trade was basically barter, and goods and products were traded back and forth between tradesmen, artisans, citizens and officials, excess goods were stored at home, or in community warehouses or other public facilities. The paper evaluates the issues and challenges of plastic money usage in india. The cardholder can pay for various goods and services by the means of this card. Power, money, land and debt throughout history, the people who have had most power have almost been rich. The word polymer means of many parts, and polymers are made of long chains of molecules.
A study on the importance and popularity of plastic money in aluva doi. The history of money concerns the development of social systems that provide at least one of the functions of money. Saudi arabia money history saudi arabia money history title. The modern history of plastic surgery really started to take shape in the 1960s and the 1970s. Money, in some form, has been part of human history for at least the last 3,000 years.
The four most relevant types of money are commodity money, fiat money, fiduciary money, and commercial bank money. The concept of money has come a long way since the dawn of time. Pdf analysis the use of plastic money in hyderabad city. It only recently became a name for a category of materials called polymers. Evaluate the possible benefits which plastic money can bring to rural communities in zimbabwe. Chart and diagram slides for powerpoint beautifully designed chart and diagram s for powerpoint with visually stunning graphics and animation effects. Chargit chargit was the first actual bank card and was issued in 1946.
However, plastic money has its share of issues that one must be careful about. These cards mainly just kept customers loyal to the company. Plastic money definitely provides an alternative in some cases and compliments cash as a medium. And, finally, even orthodox economists would reject the robinson crusoe story and the evolution from a commodity money through to modern fiat money as historically accurate. The credit card company or the bank gives credit to the user so that he or she can borrow money in order to pay the merchant. History of plastic was filed with interesting facts and developments, which slowly brought these compounds from chemical labs to the worldwide popularity. They were concerned about an increase in counterfeiting with the release of colour photocopiers that year. After introducing the properties of money the development of payment systems is outlined. Perception of card users towards plastic money this chapter analyses the perception of card holders towards plastic money in india. Money one of the most important factor for living life. Plastic money its technical and monetary importance educba. Plastic cash or credit cards have gained popularity in the last few decades.489 1155 46 1147 726 11 1492 254 1554 632 783 1514 663 39 252 1555 22 681 1227 1487 1037 166 1400 374 1088 226 326 1275 470 168 670 1365 170 1429 1317 937 23 1345 47 1088 214 1261 736 114