Cover: The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance, from Harvard University PressCover: The Future of Money in HARDCOVER

The Future of Money

How the Digital Revolution Is Transforming Currencies and Finance

Not yet available

Product Details

HARDCOVER

$35.00 • £28.95 • €31.50

ISBN 9780674258440

Publication Date: 09/28/2021

Trade

446 pages

6-1/8 x 9-1/4 inches

17 photos, 8 illus.

Belknap Press

World

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 we’ve 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 S. 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 won’t 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.

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Jacket: Liner Notes for the Revolution: The Intellectual Life of Black Feminist Sound, by Daphne A. Brooks, from Harvard University Press

“Everything I Wanted”: Black Women Listeners and the High Fidelity Culture of Taste-Making

Daphne A. Brooks, author of Liner Notes for the Revolution: The Intellectual Life of Black Feminist Sound, praises Hulu’s High Fidelity series, whose main characters are creative, intelligent Black women who are passionate about music and confident in their tastes and opinions. Where are the other shows like it?