Download or read book The Future of Money written by Eswar S. Prasad and published by Harvard University Press. This book was released on 2021-09-28 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

Download or read book Handbook of Digital Currency written by and published by Academic Press. This book was released on 2015-05-05 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: Incorporating currencies, payment methods, and protocols that computers use to talk to each other, digital currencies are poised to grow in use and importance. The Handbook of Digital Currency gives readers a way to learn about subjects outside their specialties and provides authoritative background and tools for those whose primary source of information is journal articles. Taking a cross-country perspective, its comprehensive view of the field includes history, technicality, IT, finance, economics, legal, tax and regulatory environment. For those who come from different backgrounds with different questions in mind, The Handbook of Digital Currency is an essential starting point. Discusses all major strategies and tactics associated with digital currencies, their uses, and their regulations Presents future scenarios for the growth of digital currencies Written for regulators, crime prevention units, tax authorities, entrepreneurs, micro-financiers, micro-payment businesses, cryptography experts, software developers, venture capitalists, hedge fund managers, hardware manufacturers, credit card providers, money changers, remittance service providers, exchanges, and academics Winner of the 2015 "Outstanding Business Reference Source" by the Reference and User Services Association (RUSA)

Download or read book The Economics of Fintech written by Sahoko Kaji and published by Springer Nature. This book was released on 2021-02-20 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of academic lectures given on fintech, a topic that has been written about extensively but only from a business or technological point of view. In contrast to other publications on the subject, this book shows the reader how fintech should be understood in relation to economics, financial theory, policy, and law. It provides introductory explanations on fintech-related concepts and instruments such as blockchains, crypto assets, machine learning, high-frequency trading, and AI. The collected lectures also point to surrounding issues including start-ups, monetary policy, asset management, cyber and other security, and stability of financial systems. The authors include professors, a former central bank official, current officials at Japan’s Financial Services Authority, a lawyer, the former dean of the Asian Development Bank Institute, and private sector professionals at the frontline of fintech. The book is most suitable for those both within and outside of academia who are beginning to learn about fintech and wish to successfully take part in the revolution that is certain to have wide-ranging effects on our economy and society.

Download or read book A History of Digital Currency in the United States written by P. Carl Mullan and published by Springer. This book was released on 2016-11-23 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents detailed case studies of the first commercial internet digital currency systems developed between 1996 and 2004. Transactions completed with the new technology circumvented all US financial regulations, an opening that transnational criminals exploited. Mullan explains how an entire industry of companies, agents, and participants turned a blind eye to crimes being committed in this unsupervised environment. He then tracks the subsequent changes made to US regulations that now prevent such unlicensed activity, illustrating the importance of supervising products and industries that arise from new disruptive technology. This book distills hundreds of hours of interviews with the creators and operators of early digital currency businesses to create detailed case studies of their practices.

Download or read book Exploring Central Bank Digital Currencies Concepts Frameworks Models and Challenges written by Kaur, Guneet and published by IGI Global. This book was released on 2024-03-07 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the ever-evolving landscape of global finance, the rise of Central Bank Digital Currencies (CBDCs) has introduced a myriad of challenges that demand immediate scholarly attention. The accelerating pace of digital transformation, coupled with the intricate dynamics of these novel currencies, poses significant hurdles in their widespread adoption. From privacy concerns to the technological complexities involved, the academic community finds itself at the forefront of deciphering the multifaceted challenges inherent in the CBDC landscape. Addressing this imperative need for comprehensive analysis is the groundbreaking publication, Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges. Within the pages of this compelling work, scholars will encounter a meticulous exploration of the intricate evolution of money, navigating from traditional barter systems to the digital era. The catalytic role of Bitcoin in reshaping the financial landscape serves as a cornerstone, laying the foundation for a profound understanding of the cryptocurrency fundamentals that underpin CBDCs. This book delves into the conceptual frameworks and technological models shaping CBDCs, aiming to illuminate the complex challenges faced by central banks, governments, and financial institutions in their pursuit of digital currency integration.

Download or read book The Rise of Digital Money written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2019-07-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.

Download or read book Designing Central Bank Digital Currencies written by Mr.Itai Agur and published by International Monetary Fund. This book was released on 2019-11-18 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of payment instruments dependent on the number of their users. CBDC can be designed with attributes similar to cash or deposits, and can be interest-bearing: a CBDC that closely competes with deposits depresses bank credit and output, while a cash-like CBDC may lead to the disappearance of cash. Then, the optimal CBDC design trades off bank intermediation against the social value of maintaining diverse payment instruments. When network effects matter, an interest-bearing CBDC alleviates the central bank's tradeoff.

Download or read book The near Future of Central Bank Digital Currencies written by Nicola Bilotta and published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften. This book was released on 2021-02-26 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value of global cashless payments has been radically increasing worldwide. Despite cash being the most used payment instrument in the world, technological innovation and new consumer preferences are decisively transforming the way consumers pay and manage money. The COVID-19 pandemic may also have been an accelerator of the cashless mega-trend. Private players currently dominate the digital payment ecosystem, urging central banks to seek solutions to ensure public access to legal tender if cash is phased out. In this context, the idea of a Central Bank Digital Currency (CBDC) is gaining momentum. Nevertheless, there is a need to better understand the implications in terms of risks, benefits and potential costs of CBDCs. From privacy concerns to macroeconomic effects, these implications blur the boundaries of the payment and financial systems, challenging the core functions of our economy and society.

Download or read book Economic Analysis of the Digital Economy written by Avi Goldfarb and published by University of Chicago Press. This book was released on 2015-05-08 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.

Download or read book Central Bank Digital Currency and Fintech in Asia written by Marlene Amstad and published by Asian Development Bank. This book was released on 2019-11-26 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a thorough introduction and historical overview of the principles and practices of digital currency and fintech in Asia. It covers the theory of central bank digital currency and examines regulatory aspects, economic digitalization, financial inclusion, and the role of SMEs. Selected case studies offer in-depth insights into recent fintech developments in major economies, including Australia; Hong Kong, China; Indonesia; Japan; the People's Republic of China; the Republic of Korea; and Thailand. The book also makes a valuable supplement for introductory courses on finance, governance, and economics, as it appeals to a broad range of readers, including university students, academics, finance practitioners, and policy makers.

Download or read book Digital Currencies and the New Global Financial System written by Ranjan Aneja and published by Taylor & Francis. This book was released on 2022-12-13 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the current debate around Central Bank Digital Currencies (CBDC) and the future of New Global Financial System. It offers deep insight into the global monetary policy in the context of digital and cryptocurrencies and examines both the opportunities and challenges to come. The book draws a clear distinction between digital and cryptocurrencies and answers several research questions, such as what the consequences of forming Central Bank Digital Currencies and their impact on the financial markets, in both advanced and developing economies, might be. Another question refers to whether the role of monetary policy easing has led to the rise of the virtual currency market, while still others relate to the impact of the pandemic on international settlements. The book also discusses the issue of investment in cryptocurrencies, and the related risks, whether or not this is a profitable investment vehicle, and how the digital banking system evaluates such investments. Further, the book also highlights the post-pandemic challenges for central banks, such as future monetary policy. It includes a complex review of the literature and presents elaborate econometric models of digital currencies and cryptocurrencies. The book has a wide geographic focus, examining these aspects from the perspective of several countries including China, India and the US. The primary audience for the book is researchers, scholars and students of international finance and economics but it will also appeal to practitioners concerned with the digitalisation of financial systems, policymakers and regulatory agencies. Note: Prof. Shalini Talwar's affiliation is published incorrectly. Her correct affiliation, which may be considered for referencing and records is: Shalini Talwar, Associate Professor, S. P. Jain Institute of Management and Research, Mumbai, India.

Download or read book Central Bank Digital Currencies and the Global Financial System written by Muhammad Ashfaq and published by Walter de Gruyter GmbH & Co KG. This book was released on 2023-07-24 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central Bank Digital Currencies and Global Financial System: Theory and Practice is the perfect book for anyone interested in the impact of digital currencies on the global financial system, providing valuable insights and analysis on the topic. The topic of central bank digital currencies (CBDCs) is particularly relevant in 2023 because the use of digital currencies is rapidly growing around the world, and many central banks are exploring the idea of developing their own CBDCs. This book offers readers an opportunity to gain a better understanding of CBDCs, including their history, differences with cryptocurrencies, and the potential impact of CBDCs on the future of the financial system. The book’s didactic approach breaks down complex topics into easily digestible chapters, allowing readers to easily understand and follow the progression of digital currencies. For those interested in the future of digital currencies, the book offers a chapter on future research directions and concluding remarks. Central Bank Digital Currencies and Global Financial System: Theory and Practice is a must-read for anyone interested in the intersection of finance and technology. By exploring the evolution of digital currencies and their impact on the global financial system, this book provides valuable insights for policymakers, financial professionals, and anyone looking to understand the future of money.

Download or read book The Rise of Public and Private Digital Money written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-29 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.

Download or read book Digital Cash written by Finn Brunton and published by Princeton University Press. This book was released on 2020-10-13 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fascinating untold story of digital cash and its creators—from experiments in the 1970s to the mania over Bitcoin and other cryptocurrencies Bitcoin may appear to be a revolutionary form of digital cash without precedent or prehistory. In fact, it is only the best-known recent experiment in a long line of similar efforts going back to the 1970s. But the story behind cryptocurrencies like Bitcoin and its blockchain technology has largely been untold—until now. In Digital Cash, Finn Brunton reveals how technological utopians and political radicals created experimental money to bring about their visions of the future: to protect privacy, bring down governments, prepare for apocalypse, or launch a civilization of innovation and abundance that would make its creators immortal. Filled with marvelous characters, stories, and ideas, Digital Cash is an engaging and accessible account of the strange origins and remarkable technologies behind today's cryptocurrency explosion.

Download or read book Digital Currencies written by David Peterson and published by Partridge Publishing Singapore. This book was released on 2017-04-10 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crypto-currencies arent without their share of controversies. These virtual currencies have created a revolution in both the economic and the financial front. Whether the founders of the crypto-currenciessuch as Satoshi Nakamoto (Bitcoin), Charles Lee (Litecoin), Paul Snow (Factom), Vitalik Buterin (Ethereum), and many othershave profited from their product is not known. But their efforts have certainly contributed a digital revolution in the form of a radical new currencythe virtual currencythat, once all the loopholes are plugged, can one day replace the paper and plastic currencies as they had replaced gold as a mode of payment in the past. The introduction of the digital currencies has brought forth a whole new set of regulations, technical jargons, and standard practices. In the e-book Digital Currencies: Unlocking the Secrets of the Crypto-Currencies, you will uncover the secrets of the virtual currency including: history and evolution of crypto-currency, the next generation of digital currencies, technology that powers the digital currency, big data and the network effect, the market equilibrium and the baseline mode, legal and tax issues regarding virtual currency, and much more. So are you ready to get in-depth knowledge about the crypto-currency revolution? Lets delve in to find out more.

Download or read book Digital Currency Economics and Policy written by Bernard Yeung and published by World Scientific Publishing Company. This book was released on 2020-10-26 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of papers and presentation slides on the subject of digital (crypto)currencies Article contributors are experts with much seniority and experience in their respective fields, and who hail from established and prestigious research institutions Examines the emerging field of private digital currencies from the perspective of economic research and theories.

Download or read book Digital Currencies and Public Law written by Andrew Dahdal and published by Taylor & Francis. This book was released on 2024-09-30 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book supports the deeper engagement of public lawyers in digital currency developments which threaten dramatic changes in the relationship between individuals and government authorities. No contemporary issue is more widely acknowledged and less understood than that of digital currencies. The voice of constitutional scholars, however, is crucially missing from prevailing digital money discourses. Private law scholars are grappling with the legal questions raised by digital currency models in property and contract. Public law scholars, by contrast, have yet to appreciate the significance of the moment. The challenge of understanding the technical dimensions of digital money innovations has obscured the potential constitutional revolution digital currencies represent. This book proceeds from the proposition that ‘money’ is best conceived as a constitutional phenomenon. When seen as such, it becomes clear that changes in the nature of money represent changes in political and constitutional arrangements. Explaining how, and in what ways, those changes will take place is the primary focus of this book. Through an examination of historical episodes where the nature of money has been linked to renewed constitutional settlements, this book distils a core set of principles linking aspects of monetary innovation such as technical control of the money supply to constitutional positions such as executive fiscal accountability. From these principles, a conceptual framework is proposed that translates the specific attributes of digital currency proposals into the language of constitutional dynamics. The book will be of interest to students, academics and practitioners with an interest in the law of digital currencies, constitutional law and politics.