Lets first discuss how money evolved through this meaningful timeline infographics on origins of money . If I ask you how old is human history, you will never be able to give an exact date and time because the span of recorded human history is roughly 5,000 years i.e. 30th Century BC. 1.12 1.11 1.10 1.9 1.8 1.7 1.6 1.5 1.4 1.3 1.2 1.1 1 Humans living during Old Stone Age were mostly hunters and nomads with no system of writing or accounting (ledger recording). Their sole purpose of life was survival through hunting, gathering food, fishing or scavenge wild animals. Since there was no medium of exchange (money) people would rather exchange ( barter economy ) one product for another near 9000 BC. A hunter would give another hunter meat, stone axe or leather for an exchange with a good of equal importance in value. Thus exchanging food for food , tool for tool and clothing for clothing . Barter trade was a real goods exchange system with perfect transparency and no residual ef