Existing forms of money
1. Cash - physical currency in the form of banknotes and coins that is widely used for transactions.
2. Bank deposits - money held in bank accounts that can be accessed through checks, debit cards, or online transfers.
3. Credit cards - plastic cards issued by financial institutions that allow users to borrow money to make purchases and repay the debt later.
4. Digital wallets - online platforms that store and manage electronic money for payments and transfers.
5. Cryptocurrencies - decentralized digital currencies like Bitcoin and Ethereum that use cryptography for secure transactions.
6. Prepaid cards - cards that are loaded with a specific amount of money in advance and can be used for purchases until the balance runs out.
7. Mobile payment apps - smartphone applications that enable users to make payments using their mobile devices.
8. Traveler's checks - pre-printed checks that can be used as a form of payment in foreign countries.
9. Money orders - prepaid forms of payment that can be purchased at financial institutions and sent to payees by mail.
10. Gold and precious metals - historically used as a form of money and store of value due to their scarcity and intrinsic value.