Amazing History of Paper Money, the Gengis Khan Epoch

The Bark Of Trees In the 1190s Genghis Khan extended a practice that changed the world: A new payment transaction system, paper money. This was introduced to the west via Marco Polo and is the primary root to the paper money we have today. The story of Marco Polo's adventure can be found in the classic 1299 manuscript, 'The Book of the Marvels of the World' by Rustichello da Pisa [2] from stories told by Marco Polo. Marco discovered that Genghis molded his empire through might, force and 'the bark of trees'. It was the 'bark of trees' that single handedly changed the way the west viewed payments and transactions.

With the rise of algorithmic currency like Bitcoin we are once again faced with the challenges this brings and the number of psychologically, philosophically, emotionally and politically meaningful issues. It also brings fear. With the writings of Rustichello we can revisit just how shocking and revolutionary the 'bark of trees' were as a payment transaction system. It was this writer reciting the direct memory of Marco Polo that started a revolution. In his writin ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.