The nature of money

Paradigm
Paradigm
Jun 24 · 2 min read

Among the thousands of islands in Oceania lies Micronesia, where on the Caroline Islands there is a small state with a laconic name Yap, which includes 134 islands and atolls, 22 of which are inhabited.

People that live on those islands are of primitive culture and throughout history they only had 5 categories of goods. What makes them unique is that they have a very complex monetary system compared to other primitive civilizations. Obviously, they haven’t invented paper money what they really invented were huge boulders that weight approximately 4 tons. Most of those massive rocks were so ineligible for relocation that people simply transferred the right to own these stones, not the stones themselves. The population of this small piece of land in the vast Pacific Ocean in the early days did not attain even a hundred people, so everyone knew which stones and in what quantity belonged to one or another family. There was even a case when one of the richest tribes made a deal with a tribe from a neighboring island, and when they were transporting two pieces of their money, the boats sank, the stones remained to lie on the ocean floor but did not lose their value and families on the island still use them in their deals.

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Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

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In chaos lies the truth

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain