You may think that Bitcoin is cutting-edge cryptocurrency but the technological concept is maybe too old. This seems strange to you but Bitcoin has its historical analogue system in ancient time. Rai is the analogue version of Bitcoin. These Stones were a symbolic form of money that was used in Micronesian island of Yap.
According to archaeologist Scott Fitzpatrick, the University of Oregon the symbol form of money is most intriguing coins around the globe. People used Rai Stones for generally gifting, paying ransoms, political enticements etc.
Similarities between Rai Stones And Bitcoin
The first similarity is its structure. Structure of these stones is similar to the Bitcoin symbol. Alike Bitcoin, the analogue version rai stones were also dependent on public and community ledger system. This ledger system provided transparency to the transaction of rai stones without any control of the government. Bitcoin is also public ledger which is the blockchain and there is a centralized bank structure of bitcoin. This is another similarity between rai stones and bitcoin.
Ancient people maintain oral ledgers in case of rai stones for transparency and security. They pass down the oral ledger over generations to communicate and record changes. Ancient people collectively manage the ownership and value of the rai stones.
A Few dissimilarities between Rai Stones And Bitcoin
There are a few dissimilarities between Rai Stone and Bitcoin. Ancient people did not move Rai stones after being placed in a particular region as their size was huge. Diameter of these stones could be more than six feet. Hence, the sizes of these mammoth stones were more than the height of their owner. They were extremely valuable and their value was dependant on their size and weight. One the other hand, we can move bitcoin from one wallet to another wallet easily. However, these bizarre historical similarities of shape and usage are really interesting.
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