First country to use paper money, now goes Cashless

in #cn7 years ago


https://sg.news.yahoo.com/china-cashing-mobile-payment-soars-032005189.html

China is the first country to use paper money. Before the use of paper, the Chinese used coins that were circular, with a rectangular hole in the middle. Several coins could be strung together on a rope. Merchants in China, if they became rich enough, found that their strings of coins were too heavy to carry around easily. To solve this problem, coins were often left with a trustworthy person, and the merchant was given a slip of paper recording how much money he had with that person. If he showed the paper to that person he could regain his money. Eventually, the Song Dynasty paper money called "jiaozi" originated from these promissory notes.

First paper money, Jiaozi

Until the mid-nineteenth century, commercial banks were able to issue their own banknotes.
Even today, Hongkong has three commercial banks are licensed to issue their own banknotes for general circulation in Hong Kong. The three commercial banks, HSBC, Bank of China and Standard Chartered issue their own designs of banknotes. All of them promise to pay the bearer in their office in Hongkong. I have always been curious , what would the bank give you when you present them with a Hongkong dollar

hkd 20.png

Now China is forging again and leaving paper money behind

https://steemit.com/cn/@rjona1/china-s-cashless-society-according-to-alipay

Sort:  

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.revolvy.com/main/index.php?s=Paper%20money&item_type=topic

Congratulations @rjona1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @rjona1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @rjona1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!