Archaeologists are arguing that a pre-modern stone money used by Micronesian islanders resembles a precursor to bitcoin and distributed ledger technology.
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Archaeologists Highlight Similarities Between Micronesian Stone Money and Bitcoin
Scott Fitzpatrick, an archaeologist at the University of Oregon in Eugene, has argued that a stone form of money used by inhabitants of the Micronesian island of Yap, at least several hundred years ago, comprises a predecessor to bitcoin and blockchain technology. “Stone money transactions on Yap were the precursor to Bitcoin and blockchain technologies,” Mr. Fitzpatrick stated.