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As history has shown, anything that a group of individuals in an financial system attaches value to can be used as currency. The primary “official” forex was minted within the seventh century BC by King Alyattes of Lydia in modern-day Turkey. For practical causes, Lydian currency took on the type of a round coin, which grew to become the first ever standardized unit of forex. Paper foreign money, however, was invented in Asia and was brought again to Europe by Marco Polo after his travels to Asia.

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The Lunar X Prize is an attempt to encourage a private space exploration trade. Why privatize space exploration? One among the reasons is that privatization promotes competition. With a publically funded program, the administering organization may consider bids from varied companies when deciding upon technologies and gear. Finally, just a few non-public corporations will get to produce the tools utilized in a mission.