Monetization (Noun)
Meaning
Establishing something (e.g. gold or silver) as the legal tender of a country.
Classification
Nouns denoting acts or actions.
Examples
- The government's decision to establish gold as the standard unit of currency was a crucial step in the monetization of the precious metal.
- The process of monetization of silver involved minting coins and setting a fixed value for the metal in relation to other currencies.
- Historically, the monetization of commodities such as gold and silver played a significant role in shaping the global economy.
- The monetization of a commodity as a form of currency requires a high degree of standardization and regulation to ensure its widespread acceptance.
- In the early days of a country's development, the monetization of a valuable resource like gold can provide a stable foundation for its financial system.