Notes as in a government issued notes used to have "Promissory Note" printed on each note, meaning that the note was issued to the value of gold or silver kept in holding by the state.

Fiat currency changed in late 1960's when the USA no longer backed their money with either gold nor silver. Hence it has no value, except by what the government feels the value is at any given time.

Notes go back to the 11th century with the Chinese Song dynasty and are not a new concept (out dated yes but not new).

Sadly most of the world followed and money, inflation and many other new concepts became evident in the accounting world.

IMHO blockchain technology is long overdue and will most definitely bring about new order for a new age, change is long overdue.

Thanks for the informative video @maneco64 made me think back to the 70's when the USD was 2:1 and the British Pound 1:1 against our falling ZAR currently around USD 14:1 and British Pound 17:1 on average.