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: 09/21/2021

Trade

496 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.

From Our Blog

Jacket: The Chinese Must Go: Violence, Exclusion, and the Making of the Alien in America, by Beth Lew-Williams, from Harvard University Press

Celebrating Asian American and Pacific Islander Heritage Month, Part II

In celebration of Asian American and Pacific Islander Heritage Month, we’re showcasing titles that document the Asian American experience. Our second excerpt comes from Beth Lew-Williams’s prizewinning book The Chinese Must Go: Violence, Exclusion, and the Making of the Alien in America, which historian Richard White describes as “a powerful argument about racial violence that could not be more timely.” Monday night, Gong was asleep in his tent when the vigilantes returned