Money has had several different forms over history, from tradeable goods like food, to gold, to receipts representing gold value later going on to become legal cash tender. While the value of cash no longer correlates with the value of gold, it has still formed the backbone of how we know currency to function for well over a century.
This status quo changed with the introduction of credit and digital transactions, making cash all but redundant and issuing in a new age of currency.
But despite what looked like obvious changes in how the world handles money, some basics remain the same. Legal tender, whether cash or digital, is known as fiat currency and is still reliant on a central governing body to give it its value.
Governments enact policy to encourage rates of inflation and deflation, depending on supply and demand and the general performance of the currency.
Banks are also in charge of making sure digital tender transactions are performed correctly, overseeing and charging a fee for every single digital purchase and sale happening all over the world.