I recently picked up a book called The Bitcoin Standard. I am sure many of you have already heard of it as it’s a very well known one.
Apparently I have been living under a rock.
Anyway!
In the very beginning the author writes about some ancient forms of currency, one of which, I found to be very interesting.
The native people of Yap islands, located in Micronesia used to use rai stones as a store of value.
Generally speaking the size of these rocks was BIG with the largest one 3.6 metres in diameter. That's bigger than 
The production of the artefacts involved a lot of work and expeditions to Palau. With 400km between Palau and Yap and without the technological advancements we enjoy today, some of the men would even lose their life, making the stones production a very difficult business hence the high value of them.
Because of the difficulties, the stock to flow ratio was very big making the stones extremely valuable to the native people, an essential part of their culture.
From marriages to inheritance and offered as a signed of an alliance, the Rai stones were used in all important social transactions.
Because of the weight and overall size of them, moving them around was not an easy task, so the locals used a primitive oral (let’s call it) blockchain!
Owenrship was established by the oral history of the stone and it could be transferred to a different person upon agreement without having to move it.
The value of each stone was dependant on its size, history and craftsmanship.
Upon arrival of the fuckery the Europeans are, the production of the stones became much easier, resulting in stones that were seen as more valuable since the stock to flow ratio was now lower (dollars anyone?).
Today may of them can be seen in museums around the world!
