Strange Money
Although bartering different items has never been a new idea; the concept of using something other than actual money as currency may not be a something you run into everyday.
That is not to say, that it hasn’t been done. Here are some interesting money substitutes from around the globe – invented and used; waiting for its turn at the masses.
Space Money
Aspire to be a space traveler? Well, you’ll need the right currency for it! Scientists from Britain’s National Space Centre and Leicester University teamed up to design the QUID (Quasi Universal Intergalactic Denomination – not to be confused with quid; the slang term for a British Pound Sterling).
The QUID was designed to work in the space environment. Curved edges meant it wouldn’t hurt anyone in zero gravity and the material used (the same as you Teflon pan!) won’t warp in cosmic radiation.
The QUID was designed as coins were dangerous in space due to sharp edges and credit card chips were often ruined from the radiation.
The value of a Space coin? Try a cool £6.25 (RM28.65).
The Bitcoin
You may have heard a lot of buzz about this one. The Bitcoin was created as a way to trade online. It is a decentralised digital currency that can be transmitted over peer-to-peer networks to pay for things online. Founded in 2009, Bitcoins are still experimental and the rates of what it’s worth extremely volatile.
Using it is simple; open a ‘wallet’ account from Bitcoin.org and register your address to it. This process means that any transaction you conduct online – whether receiving or paying Bitcoins are publicly stored on the network so there is no anonymity.
The total number of Bitcoins circulating has reached its maximum of 2 million.
In early April 2013, the price per Bitcoin skyrocketed to USD$266 (RM801.90) and crashed to its current level of USD$118 (RM355.73) and continues to move around the USD$100 mark.
Bitcoins have become so popular, that currency converter OANDA has it on its list of currency exchanges.
Who moved my Cheese?
Though not used as currency per se, cheese can be used in Italy to get you cold hard cash when you need it. A cheese bank in Italy, Credito Emiliano takes wheels of Parmesan cheese as collateral for loans. Each wheel, weighing about 36kg is worth approximately €300 (RM1162.55). Farmers typically send their cheese wheels to the bank in exchange for small loans which they use whilst the cheese ages.
The bank loans are up to 24 months and 80% of the value of deposited cheese.
When loans are not repaid, the cheese gets sold.
Rolling Stones
In Yap, Micronesia, natives use limestone discs as ‘money’ for trade. These large circular shaped stones with holes in the middle (for ‘easy’ carriage!) can weigh up to 4 metric tonnes and measure 3.6 metres in diameter. Imagine if you wanted to take it to the store – you’d need maybe 4 burly men. And don’t even think about a fashionable hand bag to store it.
It’s evidently very cumbersome and has thus, for the most part, been phased out. But the Yap people still use Rai stones for special social transactions such as marriage, inheritance, funerals or political deals.
The fact that it’s hard to shift made it such that the stones weren’t necessarily moved when traded. Previous owners would simply inform the new owners that they now owned one!
We’re not sure if any of these would make into the pockets (or backyards) of people anytime soon (or again, in the case of the Rai stone) but it is interesting to note what strange things people have done to get what they needed!
