Stablecoins are Modernizing Age-Old Money

The more things change, the more they stay the same. Innovation may bring new tech to forefront, but creative solutions can nonetheless be based on age-old practices.

Cryptocurrencies designate ownership of funds via private keys: software code that are crucial in design of programmable monies. But written cyphers that grant financial control are similar to Micronesian stone money. For centuries, inhabitants of western Pacific island of Yap used disc-shape stones to record transactions and transfer ownership (of various assets) without physically moving the stone disc.

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