Though bitcoin and the blockchain are considered creations of the digital age, in reality the concept of a universal network currency and open account of its users were implemented thousands of years ago. We are talking about a currency called “Rai Stones” which were used by the natives of the island of YAP in Micronesia before the first visits of Europeans. They were a multi-ton round stones with a hole in the middle. But what they have in common and modern cryptocurrency?
It is known that the “Rai Stones” began to make at least 500 BC, for which the harvesting of aragonite and calcite was transported from Palau to YAP for hundreds of kilometers. The huge size and weight to automatically secure the money from the fake, to steal or to take away during a RAID of the stone currency was also problematic. Often, the “Rai Stones” moved only once during manufacture, after which it remained in storage, and for transactions based on information about them.
The inhabitants of YAP international has developed an amazing system of control and check the “Rai Stones”, based on the transmission of oral information about the transactions. When someone somewhere made the deal, all participants considered it their duty to inform others — as contact with them. An open, transparent system in which clearly the fraud was immediately discovered through universal access to data about committed transactions. How can you not see the similarity with the technology of the blockchain?
Were the inhabitants of YAP international and “mining” – the production with the help of primitive tools of stone drives a few meters in diameter was so time-consuming that adding even a single “coin” in the system turned into a big event. Interestingly, many of the current holders of the “Rai Stones” never and in eyes did not see them, they have successfully carried out transactions remotely. And the information about the affiliation of the stone money and the history of the most important transactions transmitted over tens of generations. Such a system of collective control over finances were protected from many risks and ruled out speculation money.
Source — Economic Anthropology