Tabu – The shell money of the Tolai tribe in East New Britain, Papua New Guinea
Money isn‘t everything. In some places in the Pacific, people still pay with shells – and this traditional currency has turned out to be panic proof. Because of this, the Tolai tribe‘s shell money on Papua New Guinea‘s largest island, New Britain, was recognized as an official currency: you can buy food, pay bridal dowries, square income tax with it – and exchange it for bank notes in the only shell money bank in the world. The system works. Can the shell teach us – in these times of capitalism and bitcoin?
Shellmoney is not only an authorized medium of circulation with financial significance, but also linked inextricably with culture, religion and social life. The traditional monetary system survived throughout the centuries. Since 2002, the provincial government of New Britain promotes shell money to preserve their economy from the damages of globalization. The shells are hard to harvest and difficult to process. This prevents their devaluation.
