Ancient Chinese Inventions: The History of the Paper Money

Paper money is one of the greatest inventions of all time. And do you know who invented paper money? Yes, you guessed it: the Chinese. Ancient Chinese inventions can be considered to be one of the most useful and still usable inventions ever made in human civilization. Some of these are the toilet paper, compass, ship’s rudder, iron plow, porcelain and many others. Paper itself is one other invention that was, and still is, being used by humans. Paper products have evolved and developed over the years, and the most popular paper product out there is the paper money.

In the past the Chinese made use of silver, gold and silk to use as currency to pay for big sums of purchases. They also used gold for use in everyday needs. But when realization hit that using these metals and silk for trading are very inconvenient, the Chinese thought of something that will be easier and convenient to use. That is when the first paper money was invented about 806 AD, along with other ancient Chinese inventions. At first, banknotes were used for transactions in faraway places. Later on

Ancient Chinese Inventions

Ancient Chinese Inventions

the Chinese government started to take control from individual citizens.

Together with other ancient Chinese inventions, the paper started to take off as soon as it was introduced to the public. Soon after the usual trading practices of the Chinese were modified because a small piece of transaction paper was used instead of bulky and heavy metals and cloth.

Up to this day, ancient Chinese inventions are very much in use despite being developed and enhanced to keep up with the changing times. Since then countries all over the world started to develop their own currencies to be used for purchases and other transactions and to be traded with other countries’ currencies. Indeed, the paper money can be considered one of the greatest inventions of civilization.

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