Telos, the EOSIO software code fork will be used as currency!

A currency according to wikipedia comes from the latin word, “currens” which means “in circulation” in English. In the most specific word currency means money in any form when in actual use or in circulation as means of exchange. Throughout the ages there has been all kinds of things used as medium of exchange.

Before money was used, people used barter which is a system where people exchanged goods and/or services they had with the goods or services that they needed/wanted. Now because of barter’s inefficiencies, the idea of a standard medium of exchange began to emerge. Cowry shells, grains, metals, etc., began to be used as currency. Metals like gold and silver eventually emerged because of their durability but one of the flaws was the safety of storage especially when travelling from one location to the other. There were criminals and bandits that robbed people of their precious metals.

Eventually receipts of the amount of metals that were deposited with a third party began to be used as an exchange. These receipts represented the amount of these precious metals that was kept by wholesaler shops. Since people did not have to carry the actual metals, this was a lot safer means to transact. People will exchange these receipts for goods and services and they will be able to be turned in for the metals. Eventually…