Which country in the world was the first to use paper money?
Correct answer to the quiz question
China
The first country in the world to introduce paper money was China.
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Detailed answer to the quiz question
The first country in the world to introduce paper money was China. This development began during the Tang Dynasty in the 7th century. Originally, so-called “jiaochao” were used in China during the Song Dynasty (960 – 1279 CE), which are considered to be an early form of paper money.
The idea behind the introduction of paper money was to facilitate trade and avoid the transportation of large quantities of copper coins. Paper money was easier to transport and store and contributed to the development of Chinese trade and economy. This concept was later adopted and further developed by other countries, being introduced in different regions of the world at different times.
