Every region of Bhutan abounds with rich oral traditions that include folktales, local myths, and legends related to the local history, landforms, and place-names. These oral traditions have been a source of value education as well as entertainment in our traditional rural societies, and they hold the essence of our unique culture and traditions. However, unless we act today, our invaluable oral traditions are in danger of extinction soon due to the sweeping forces of globalization and commercial entertainment that have already reached even remote areas of Bhutan. With the help of examples, this paper provides a brief analysis of the traditional values transmitted by our folktales and the functions served by local legends and myths in Bhutanese society. Finally, this paper offers some practical recommendations for collecting our folktales, myths, and legends in the form of text, audio, and video using the currently available digital technology to create the first comprehensive and dynamic “Bhutanese Folktales Online Database.”

[Note: Appendices present the text of three stories: "The Story of Meme Haylay Haylay," "The Story of Bumo Sing Sing Yangdonma," and "The Story of Masang Yakhilai Rowa"]