Although bitcoin and blockchain are considered the offspring of the digital era, in reality, the concepts of a universal network currency and an open system of accounting for its users were implemented thousands of years ago. This is a currency called "Stones of Paradise", which was used by the aborigines of the Yap Island in Micronesia even before the first visits of Europeans. They were multi-toned round stones with a hole in the middle. But what do they have in common with modern cryptocurrency?
It is reliably known that the "Stones of Paradise" began to be made at least in 500 AD, for which blanks from aragonite and calcite were transported from Palau to Yap for hundreds of kilometers. The huge size and weight automatically protected this money from counterfeiting, it was also problematic to steal or take away stone currency during a raid. Often, the "Stones of Paradise" were moved only once, during manufacture, after which they remained in storage, and information about them was used for transactions.
The residents of Yap have developed an amazing system of control and verification of the ownership of the "Rai Stones" based on the transmission of verbal information about the transactions. When someone somewhere made a deal, all participants considered it their duty to notify the others about it - as soon as they got in touch with them. An open, transparent system in which clearly fraudulent activities were immediately exposed due to public access to data on the transactions made. How can you not notice the similarities with blockchain technology?
The inhabitants of Yap also had their own "mining" - making stone discs several meters in diameter using primitive tools was so laborious that adding even one "coin" to the system turned into a big event. Interestingly, many of the current owners of the "Stones of Paradise" have never seen them in their eyes, they successfully completed transactions remotely. And information about the ownership of stone money and the history of the most important transactions have been passed on for tens of generations. Such a system of collective control over finances was protected from many risks and excluded speculation in money.