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At Barter age, people exchanged goods and services directly (e.g., wheat for fish, tools for cloths, and cow for rice).
But, there had a problem of balancing good for perfect trading or exchanging (e.g., cow is too much to exchange with just one kilo of rice) -
used valuable things as money like cowrie shells, salt, grain and cattle. -
-used metal coin to be faster and get better experience in exchanging. Also to be durable and trusted.
- first metal coin made in Lydia (Turkey). -
- First paper money used in China ( Tang and Song Dynasties).
- Lighter and easier to carry than coins.
- Later spread to Europe through trade.
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-first banknotes issued in Sweden. -
- PayPal, Alipay, Apple pay, etc.