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A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand.
With digital currencies and online transactions gaining steam worldwide, the future of paper money may be in jeopardy. What was once valued precisely because of its physicality is giving way to a new global economy where more and more transactions—big and small—are processed electronically.
Dec 23, 2023 · Paper money (also banknote or bill) was first invented in China’s Song Dynasty (CE 960-1279) after a long process that can be traced back to the 3rd century BCE. Eventually, coin currency became too cumbersome and devalued, so various economists, philosophers, and emperors looked for answers.
Sep 23, 2020 · Today on The Indicator, Planet Money host Jacob Goldstein tells the story of paper money — why it was created, how it transformed China, and why it (temporarily) went away.
Aug 26, 2015 · Ehrenfeld was right about one thing. Well, almost: with very few exceptions, these are the oldest examples of paper money known to have survived. Marco Polo. The Chinese not only invented paper, they invented paper money during the reign of emperor Chen Tsung (998-1022 AD).
Mar 25, 2024 · Paper money is the official currency circulated by a country for transactions. Its history, role in the global economy, and the impact of digital currency on its use make it an intriguing subject of discussion.
Sep 21, 2021 · The development of paper money resulted from a larger historical process whereby the leaders of the Song Dynasty (AD 960-1279) had to devise new ways to compensate for the demand for metal currency that resulted from their expanding economy.
