According to the erstwhile American adventurer, William Henry Furness III, people of the Pacific Island of Yap had a highly evolved system of money and banking. Something which put to shame the scholastic theories of economic aficionados – Adam Smith, John Locke, etc. Henry’s travelogue mentions that the Yapese already had a “decentralized peer-to-peer” credit … Continue reading Did Satoshi Revive the Yapese Monetary System, with Bitcoin and Blockchain?
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