Money is believed to be first used in 600AD in China, and money transfers started about 150 years ago—around the time the telegraph was invented. Western Union completed the first transcontinental telegraph line in 1861. In 1879, WU left the telephone business. That inevitably led to money transfer becoming their primary business. In the past, [...]
Before the money was invented, food, clothing, shelter, gold and other items were traded instead. It was not long after goldsmiths started casting golden coins, so people could trade them for goods. Exchanging coins was far more convenient and people could carry them on longer distances. By collecting these coins, they were gaining wealth, and [...]
