The team at Qualtrics shows how point-of-sale transaction technology has evolved over hundreds of years. Metal coins emerged in the seventh century BC, laying the groundwork for trade between societies. The Silk Road, established in 138 BC, had a profound impact on long-distance trade.
It also introduced the need for new ways to trade, like the “silent trade” method, which allowed merchants to trade without interacting by leaving goods at a designated spot and adding to or subtracting from the exchange until both parties were satisfied.
The Islamic world had an answer for a more secure way to make these exchanges. The “sakk” was a document instructing banks to make a payment to a third party, so traveling merchants wouldn’t have to carry heavy, liable loads of coins and goods. The sakk is comparable to today’s checks. The timeline is a fascinating look at the creative ways humans have solved the problems surrounding secure and fair trade.
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