Invented Paper Money?


The Chinese began the use of paper money around 650 AD, when people decided to deposit their large sums of money (which were all in coin form) in vaults owned by enterprising individuals. In return, depositors got promissory notes which were later used as a form of currency since the notes could be used for trade with other people.
Q&A Related to "Invented Paper Money?"
Money is any object used as a medium for exchanging goods and services. It may or may not have any value itself. Modern money typically has very limited inherent value but is used
The first known banknote was developed in China during the Tang and Song dynasties , starting in the 7th century.
Some of the earliest known paper money dates back to China, where the issue of paper
NAME .... Jiaozi of (Song Dynasty), the world's earliest paper money, Thats still around today for people to see. The earliest Paper Currancy was made by each person that someone
1 Additional Answer Answer for: who invented paper money
Paper currency was first circulated in China as early as 800 AD during the Tang dynasty.
Paper currency developed due to shortages of metal coins, and also because coins became to burdensome to carry around in large quantities, so paper promissory notes began to be used that were traded for metal coins.
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