Barter system didn't fail, but evolved to a next stage.
Meaning? The heavy goods were NOT easy to be moved to far places, to exchange with barter system. So the coins came into existence substituting goods.
For e.g.., 1 cow for 10 coins.
To avoid thefts, riches used vaults to store coins, and a receipt was given as a token for the storage of coins. That receipt is now paper money, and the vaults are now Banks.
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Meaning? The heavy goods were NOT easy to be moved to far places, to exchange with barter system. So the coins came into existence substituting goods.
For e.g.., 1 cow for 10 coins.
To avoid thefts, riches used vaults to store coins, and a receipt was given as a token for the storage of coins. That receipt is now paper money, and the vaults are now Banks.
Just my two cents :) https://www.mcdvoice.onl/
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