Summary: Are open exchanges over? Public Domain. Source: Wikipedia In Japan, around 1700, producers and consumers of rice decided they needed a place where they could exchange promises to buy or sell that year’s harvest. At the time, samurai were paid in rice, and they needed to know how much they were really being paid. This became the world’s first futures exchange, and it helped Japan’s economy grow, as their currency shifted from rice to coins to paper […]
