From the advent of humanity and the forming of societies, people have engaged in the exchange of good and services to satisfy their needs and desires. With the evolution of societies payments used in the sale of goods and services and the settlement of economic transactions evolved from using bartering to cowrie shells to metal coins to paper money and modern electronic money used as a medium of exchange, a common unit of account and a store of value to transfer purchasing power over time. A common principle existing in anything used as money is trust in its ability to be accepted by other people as a means of payment for economic transactions, a common unit of account and a reliable store of value which allows for the transfer of purchasing power over time. It is on this fundamental principle that central bank money and existing payment systems were established. For centuries and up to the present day, central banks provide safe and trusted money in the form of cash (bill and coins) to the general public, and in the form of (electronic) reserve and settlement accounts to banks and other financial institutions.
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