Stone Money: the Rai of Yap
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YouTubeViking Spud
Stone Money: the Rai of Yap
On Yap you will find one of the world's most unique currencies: the Rai. These are stone circles that are mined by the Yapese in nearby Palau. Once brought back to their island, the Yapese make these their bartering currency. Each village has a ledger of who owns which Rai. You will see Rai along the road, near buildings and even gathered in a ...
914 views7 months ago
Shorts
The island of Yap in Micronesia is famous for its unique form of currency known as rai stones, which have been used for several centuries. The stone money is considered an ancient form of blockchain and cryptocurrency, because it utilizes a communal oral ledger to track ownership and transactions, ensuring transparency and immutability. Additionally, the value of rai stones is based on their scarcity and the effort required to create and transport them, mirroring the principles of cryptocurrency
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