Blue Topaz: Meaning & Uses The history of blue topaz dates back thousands of years, to a time when its beauty was greatly admired and it was thought to possess magical powers. The ancient Greeks acknowledged that blue topaz could increase intelligence and power, while the Egyptians acknowledged that it could protect their pharaohs from harm. It is acknowledged that the word "topaz" originated on the island of Topazos in the Red Ocean, where it was initially discovered.