The world's first paper money was created in China during the Tang Dynasty (618-907 AD). It was known as "Jiaozi" and was initially used for government transactions.
The world's first paper money was created in China during the Tang dynasty (618-907 AD). The government issued the currency as a way to streamline trade and reduce the need for cumbersome coins. The paper money was backed by the government's promise to exchange it for metallic coins if necessary.
The world's first paper money was created in China during the Tang Dynasty around the 7th century. It was called jiaozi, and was used as a means of payment for merchants. Jiaozi was made from mulberry bark and other plant fibers.
