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On Yap Island, in the Pacific Ocean, early inhabitants used large limestone disks, known as Rai stones, as money. Some of these disks weighed as
On Yap Island, in the Pacific Ocean, early inhabitants used large limestone disks, known as Rai stones, as money. Some of these disks weighed as much as a car! Everyone agreed that the stones were valuable and the people utilized them in much the same way we use money today. The weight of the stones and the fact that a Rai stone is difficult to split into smaller denominations would make Raistones unfit to act as money today because Rai stones could not act as a Medium of Exchange Store of Value Unit of Account
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