In the 10th century, Count Baldwin, in order to develop a monetary business, as well as improve trade relations, created a rate of exchange transactions. So, two hens could be exchanged for one rooster, two lambs for one sheep, and so on. Even though the territories of the countries were not disturbed by any crusades, every society needed money.
In Western Europe, there was a fairly large number of mints. Each duke and bishop sought to build their own coin shop. Therefore, quite often, in one city there could be several coin shops. Continue reading
Tokens have a rather interesting story. They have at all times been used as support for real currency. But in itself, a token is considered “non-currency”. Let’s dive into history and look at the development of the token industry in the world.
The very word “token” came from the French “jeton”. These tokens were used as “tickets”, funds for obtaining any specific goods or services. This, in any case, was not full money. Continue reading