Sounds fake, right?
By Gargi Ghosh *Updated on 20/01/2026
But once upon a time in Micronesia, people actually used giant stone discs called Rai Stones as money. Some were taller than humans. You didn’t even carry them - everyone just remembered who owned which stone. Talk about blockchain before blockchain 😅
And that’s just the beginning.
Before coins and notes ruled the world, humans got… creative.
🔹 Cowrie shells were money in India, China, and Africa.
🔹 Salt was so valuable in Rome that soldiers were paid with it (that’s where the word salary comes from).
🔹 Tea bricks were used as currency in parts of China and Tibet.
🔹 Cows and goats were literally money in ancient societies.
🔹 Feathers, beads, whale teeth, and metal rings all had “cash value” somewhere in history.
Why did all this work?
Because money isn’t about paper or metal.
It’s about trust, agreement, and value.
If people believe something has value - it becomes money.
Today we swipe cards, scan QR codes, and talk about crypto.
Tomorrow? Who knows… maybe digital badges or social credits 😏
So next time you complain about carrying coins,
remember - someone once bought land with a rock.
And for ICA students
This isn’t just random history.
This is the real story of finance -
how value, trade, trust, and systems evolved.
Because if you understand where money came from…
you’ll understand where money is going.
And that’s exactly the kind of mindset future finance professionals need.
Stay curious.
History still has secrets to teach.
Written by Gargi Ghosh
Gargi Ghosh (M.A, B.Ed, M.B.A, TEFL) is an Educator, an artist, and a graphic designer, as well as an author and former Principal. A winner of awards in the categories of Women's Award-An Inspiring Woman (2019), Most Socially Active Principal (2020), Top Educators of India (2020), and Top 100 Iconic Educators of India (2021), she has published her poems in several international anthologies and secured the 8th position in a Global Poetry Competition.
