The convergence
Largely inspired by the 1976 book Denationalization of Money, in which Friedrich Hayek proposed the establishment of a free market for private money, Money Without Boundaries is about the opportunity to create a new global currency facilitated by blockchain technology. Unlike traditional currencies, whose value is eroded over time by inflation, 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 the market forces of supply and demand.
A privately controlled, market-based currency is not a new concept. The idea builds upon works from Hayek, Plato, Adam Smith, Irving Fisher, Ludwig von Mises, A. Mitchell Innes, James Tobin, Milton Friedman, and many others. What is new is a roadmap for the application of these ideas to new technologies to create a decentralized, risk-free store of value.
Money Without Boundaries is a must-have resource for anyone interested in understanding how the applied uses of blockchain technology will change the financial system and enhance the lives of billions of people around the world. Author Thomas Anderson explains how blockchain will create a new currency guided by the market forces of supply and demand, transforming the process of buying, borrowing, and lending forever. From the history of money and the rise of cryptocurrency to how decentralized money markets compare to all other alternatives, this straightforward, reader-friendly book provides the information you need to connect old ideas of money to the new reality of blockchain technology.
