Money Without Boundaries: How Blockchain Will Facilitate the Denationalization of Money

ISBN-13: 9781119564065 / Angielski / Twarda / 2019 / 272 str.

Thomas J. Anderson

Spis treści

Preface xiAcknowledgments xxiIntroduction 1What is Money? 2Money as a Store of Value 5Demise of the Gold Standard 6Planting the Seed for the Denationalization of Money 9Part One: The Foundation 11Chapter 1: Money Through Time - A Different Perspective 13"The Holy Gift of Free Gold" 17National Debt, National Blessing? 18Following the Yellow Brick Road 21"Breaking of the Gold Fetters" 24"Let Me Lay to Rest the Bugaboo..." 27Chapter 2: The Fundamentals of Money 31Narrow Money versus Broad Money 33The Theory of Money and Credit 35Full Faith and Credit: Money is the Government's Debt 37Chapter 3: Banking - An Overview 41A System That Multiplies Money 43Money is Credit, and Credit is Money 45"Not for Profit, Not for Charity, but for Service" 45Chapter 4: The Denationalization of Money 47Irving Fisher: Abolish Fractional Reserve Banking 48Milton Friedman and Setting the Nominal Interest Rate to Zero 50Friedrich Hayek: Denationalize Money 51Chapter 5: The Rise of Cryptocurrency 55Coins and Tokens 57Is it a Security or a Utility? The Howey Test 60Stablecoin: Establishing Trust and Stability 62How Should We Value Coins and Tokens? 63Chapter 6: The Role Model 69Everything the Banking System is Not 71Part Two: The Four Pillars - Our Building Blocks 77Chapter 7: Pillar 1 - Modern Portfolio Theory and the Risk-Free Asset 79Evolving Modern Portfolio Theory and the Risk-Free Asset 83Summary of Pillar 1 84Chapter 8: Pillar 2 - The Credit Theory of Money 87Creating Money Under the Credit Theory of Money 88Creating a Medium of Exchange 91Summary of Pillar 2 93Chapter 9: Pillar 3 - Solving the Trust Gap = Blockchain 95It All Started with the Cloud 98What, Exactly, is Blockchain? 100Why Should We Care? 103How Does Blockchain Work? 103Why Would Anybody Do This? 106Who Maintains the Network? 107Blockchain Components and Ecosystem 108Protocol Tokens and App Coins/Tokens: Working Together 112The Other Layers 114Summary of Pillar 3 115Chapter 10: Pillar 4 - Capital Markets as a "Technology" 117What are Capital Markets? 118What are Money Market Accounts? 119What's in a Money Market Fund? 121How Efficient is the Repurchase Market? 123How Does This Relate to Our Third Pillar, Blockchain? 124What is Securitization, and Why the Prejudice Against It? 125How Securitization Works 126How Subordination Works 128Slicing and Dicing Our Way to Risk-Free 129Summary of Pillar 4 130Part Three: The Concept 133Chapter 11: Transcending Space and Time 135From Star Trek to the Death Star 136"Copper, Beads, and Such Like Trash" as Money 138A Store of Value that Transcends Space and Time 140Chapter 12: Bringing the Building Blocks Together 141A Known Store of Value: The Blockchain Revolution 143A Different Objective: Zero Risk 144Weight, Mass, and the "Risk-Free Rate" 144The Kilogram and the Specimen 145An Elastic Definition of the Specimen 149A Sample Specimen 151Convergence Checklist 154Chapter 13: A Neural Network Begins 155A Perspective on a Decentralized Market in Money 156The Other Sides of Zero 159The Paradigm Begins to Shift 160The Paradigm Shifts: One Loan 162The Neural Network is Born 164Chapter 14: Conclusion 165Securitizing Individuals at an Individual Level with Blockchain 170Welcome to a Whole New World, Mr. Keynes 172Appendix A: The Future of Money - A Credit-Based Society 175Structural Superiority 177Illustration 178Appendix B: A House of Cards 179A Debt-Fueled Illusion 181Our Perspective Must Shift 182Glossary 185Resource Guide 191Bibliography 207About the Author 221Endnotes 223Index 241

O autorze

THOMAS J. ANDERSON is the founder and chairman of both Anasova and Supernova Lending. Before he founded Supernova, Tom worked in investment banking and wealth management for Wells Fargo, Deutsche Bank, Merrill Lynch, and Morgan Stanley, where he served as executive director of Morgan Stanley Wealth Management. He is a New York Times bestselling author and acclaimed financial planning expert. Tom's books have been featured in numerous media outlets around the world.