Money Without Boundaries: How Blockchain Will Facilitate the Denationalization of Money

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What is the future of money? What is the difference between bitcoin, blockchain, coins and tokens? What is cryptocurrency and why all the fuss? And what about gold? What will be a long-term stable store of value and how does that relate to what may or may not be valuable as an investment? Is blockchain a short-term fad or will it truly disrupt everything?
Money Without Boundaries is a must-have resource for anyone interested in exploring these questions. See how over 100 years of theory converge with emerging technologies to create a new 5G reality. The punchline: the convergence of these megatrends changes and disrupts everything as you know it today.
From the Author
Money should be simple and easy to understand. Nothing could be further from the truth.
My quest to understand the future of money begins by recognizing that the fascination with money is in fact a well-studied, old topic - not an emerging Reddit meme. I begin with a foundation looking at:

• The history of money.
• Money from the perspective of Plato, Adam Smith, Milton Friedman, Friedrich Hayek and many others.
• The rise of cryptocurrency and the revolutionary technology behind it - blockchain.

I conclude that new technologies make it possible for over 100 years of monetary and portfolio theory to unite and converge.
Because the conclusion is part theory and part prediction, I freely admit that I could be wrong. Fortunately, "right or wrong" isn't the point of the book. As billions of dollars are pouring into this space, and trillions more depend on the outcome, my goal is to enable a broader group of people make their own connections between old ideas and new technologies.
From the Inside Flap
Traditionally, money has been a safe and reliable store of value. For thousands of years, society focused on money of limited supply, such as bartering and commodity money primarily a gold standard. We then moved to "full faith and credit" currencies, or an unlimited money supply backed by government's ability to repay it with future taxation. The value derived or perceived from these currencies is primarily tied to beliefs related to the underlying economic value of the currency issuer.
Money is much more than the physical cash you have in your wallet. Large transactions, including those of large financial institutions, are mostly cashless. Credit cards are used to make the majority of purchases in the developed world. The preference for cashless transactions is already here; virtual and mobile payments allow people to make monetary transactions quickly, easily, and securely. We have the technology, but we lack a standardized, universal store of value. Something that doesn't yet exist: a market-based, risk-free, self-stabilizing global currency.
When you think about cryptocurrency, you most likely think of bitcoin. Blockchain, the revolutionary technology behind bitcoin that digitally secures the ownership of an item and its full history, has been used to create a finite number of bitcoin, but it can also create an infinite number of items of limited supply. Once we're able to create an infinite number of items with limited supply, then limited supply by itself is no longer valuable. Similarly, an unlimited supply of items with economic value is also worthless in the long run. The goal for society is to have both limited supply and economic value, and this is the objective of Money Without Boundaries.
Money Without Boundaries is about the creation of a new global currency facilitated by blockchain technology. Unlike traditional currencies, such as the dollar, yen, or euro, this currency strives to be a risk-free store of value. And unlike bitcoin, which tethers to a finite number of units, this store of value tethers to zero risk. As a result, it is constrained not by an arbitrary number of units, but by market forces of supply and demand. A privately controlled, market-based currency is not a new concept. But only now do we possess the technology to use theories from some of the greatest economic thinkers in history - Plato, Adam Smith, Irving Fisher, Milton Freidman, and Fredrich Hayek, among others - to transform the we way we think about and use money. This book is a bridge connecting old ideas to new technologies.
Money can be fully commoditized in a decentralized, self-regulating, not-for profit, free-market system. Blockchain will give everyone a decentralized, safe, anonymous, and secure store of value and revolutionize the global financial system in the process.
Hardcover: 272 pages
Language: English
ISBN-10: 1119564069
ISBN-13: 978-1119564065
Format: EPUB

Edited by erwinkim39, 13 October 2019 - 12:56 PM.