Question

why paper currency is introduced all over the world?​

Answer 1

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Banknote

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A banknote (often known as a bill (in the US and Canada), paper money, or simply a note) is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank.[1] Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities.

Answer 2

$\huge\mathcal\colorbox{white}{{\color{magenta}{『ANSWER』}}}$ Paper money in the United States dates back to 1690 and represented bills of credit or IOUs. New currencies were introduced in the U.S. in 1861 to help finance the Civil War. In 1996, a series of bills were introduced that used new methods to prevent counterfeiting.