Ancient Site Suggests Inca Precursor To Blockchain

A mile-long band of 5,200 holes dug into Monte Sierpe, Peru, has long puzzled archeologists. Recent digital archeological research suggests the site served as an “indigenous system of accounting and exchange” under the Inca Empire (1400-1532 AD). Researchers propose Monte Sierpe functioned as a large-scale accounting device, a ‘spreadsheet’ for collecting tribute from local communities.

Before Luca Pacioli’s popularization of double-entry accounting, the Incas used the hillside to record transactions. The arrangement of the holes into 60 distinct blocks resembles a blockchain – a continuous, physical record of data.

Researchers suggest that depositing goods into the holes publicly displayed information about tribute payments. This public ledger facilitated administration without currency or writing, allowing verification of who paid what to whom.

The site’s structure is structurally reminiscent of a ‘khipu,’ an Inca knotted-string record-keeping device. While khipus were maintained by specially trained individuals, Monte Sierpe provided a publicly verifiable record.

Unlike modern blockchains, the history of Monte Sierpe’s records was not permanently preserved, as blocks could be reused. Nevertheless, the site demonstrates that the Incas recognized the value of recording transactions in a public, immutable ledger, requiring significant labor investment.

The research highlights parallels in the principles of blockchain technology, demonstrating a potential ancient precursor to modern digital systems. The shared characteristic is the recognition that recording transactions publicly provides significant value in organizing large groups of people.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.