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A great book on what is the future of money: digital currencies like e-dolla,r e-euro and e-yuan. The matter made easy for non-economist. And a great journey in the realms of block-chain and DeFi (Decentralised Finance). Not being and economist I had the chance to get all of these subjects illustrated along with what matter to any of us when challenged by the the question : And so what?
Das Buch gibt eine sehr realitätsnahmen, beispielhaften Überblick, wie sich die Finanz- und Geld- Welt in den nächsten 5 Jahren ändern wird. Viele der beschriebenen Sachen sehen wir schon in den Anfängen und es ist durchaus realistisch, gerade unter dem Aspekt der momentan sehr stark anziehenden Digitalisierung, das all dies auch so umgesetzt wird. Ein sehr gutes Buch oder mehr eine Richtlinie für die kommenden 5 Jahre.
I LOVED reading this book and learned/re-learned and enhanced my knowledge of money. I read the book diligently, slowly and at times re-read chapters (e.g., the first one on Bitcoin) to try my best to absorb as much as I could. I have read a few books on the topic of money, and this one is among the best. I also loved “The Ascent of Money” by Niall Ferguson, “Naked Money” by Charles Wheelan … those are definitely equally good. What sets this book apart is that it starts with great explanations of the definition of money, the different types of money (eg. “outside money”, “inside money” etc), then explains Bitcoin, the current crypto craze, central bank digital currencies (CBDC), current trends, central bank functions, reserve currencies and a lot more. Among the many great things about this book is how each chapter is a great buildup to the next one, and the author explains concepts very clearly with fantastic examples. The chapter on Bitcoin was one of the best introductions to the topic. The author gives us a beautiful review of the evolution of money, from the first central bank created in Sweden in the 1600s, to modern types of payment means like PayPal, Venmo, Alipay etc all the way to CBDCs. The book is extremely readable and at approximately 360 pages a very palatable length :) … I cannot find a flaw in it :) Anyone interested in an excellent review of the concept of money, the current trends and likely future direction should read this book. Kudos and thanks to Professor Prasad …
This is a quasi-textbook. It's accessible and clearly written. I'm old, but I've taught investments and finance at university. This book made me realize that the unprecedentedly rapid rise of crypto, coupled with the massive fiat printing, both since 2009, had left me behind. If you want to get caught up, get a handle on the explosive changes in train (read that as a warning or a promise for the future, as you see fit) this is the book for you. Read it soon, though, because in a year, two at most, it too will be obsolete.
This book came "highly recommended" as the cliche goes by Adam Tooze, history economist with an ever growing reputation. (Check out his Charbook on substack)
The promise of finally finding all the nuances of the entire genre of cryptocurrencies met the actuality of learning, if not all, very much all the intricacies of modern macro financing, currency exchange, digital currency, emerging market economies, established currency and what the heck crypto's can do for me.
While I am no expert, I had my presumptions, and while I had no reason to cling to the presumptions, reading this volume suggests to me that I am on the right track. I wouldn't want to reduced the entire work with a sentence that exposes my on going ignorance, but I will write this -- the future of currency is just as volatile as the daily seesaw of headlines about the value of currency. Until it isn't. But, yes, we are in an epoch of financial change, but the author suggests that it might not be so different in certain respects(read Dollar dominated), all the while being completely changed in others(read less dollars)
I just finished reading the Kindle version of this book, and found it to be exceptionally clear, well-written, and extremely thorough in the way it describes the many different methods that countries are exploring as they attempt to deal with digital currencies. The author exhibits an impressive knowledge of a wide variety of methods being used to tackle future currency transactions, and discusses the implications of these methods on the financial establishment. He also discusses, in depth, the pros and cons of each country’s approach in a very clear and unbiased way.