It is a historically established fact that many cities and countries have developed currencies to facilitate trading and the exchange of goods. These were developed with the intent of local businesses and work alongside existing currencies. Doing so has encouraged more spending in the local economies.
The point of this information is to point out that alternative currencies are not a new phenomenon. Alternative currencies existed even in ancient Rome. In the 3rd century BC, Rome introduced a new monetary system based on a silver coin, the denarius. This currency was widely used across the Mediterranean, and indicative of the Roman Empire’s rapid growth. This was the only currency to be used across Europe till the Euro, the common currency was introduced in 1999. Small cities across the Roman empire made their own currencies and used it along with the denarius. Local coins often bore the images of important people in their area.
Other forms of money, i.e. gold, were are also used in addition to currency issued by the government. These alternatives were used for large transactions. Other coins and objects have been found across the Roman world – small objects resembling coins near old and important buildings. Coins have been also found in Ibiza, Spain and in Egypt as well. Pompeiian currency with Apollo’s head were also found in Marseilles, France.
With devalued currencies and hyperinflation, countries like Iran and Venezuela have been to look at cryptocurrency as an investment vehicle. They are heavily invested in the crypto revolution. Extrapolating from historical and current information, some experts have wondered – if cryptocurrency wee available way back in the past, could the Roman Empire have been saved?