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Books > Business & Economics > Economics > Economic theory & philosophy
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Before Babylon, Beyond Bitcoin - From Money That We Understand to Money That Understands Us (Hardcover)
Loot Price: R710
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Before Babylon, Beyond Bitcoin - From Money That We Understand to Money That Understands Us (Hardcover)
Series: Perspectives
Expected to ship within 12 - 19 working days
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Money is changing, and this book looks at where the technology of
money might be taking us in the future. Technology has moved our
concept of money from physical things, to unseen bits of
information. With the arrival of smart cards, mobile phones and
Bitcoin, it has become easier than ever to create new forms of
money. Crucially, money is also inextricably connected with our
identities. Your card or phone can identify you for security - and
also enable information about you to be associated with your money
(think for example of store 'points' cards). To understand all of
this and to see where we might be going, the author first of all
looks back over the whole history of money, which spans thousands
of years. He sees evidence for possible futures in the past, both
recent and ancient. After all, not all 'future' starts from today.
For example, it can be argued that the future of money began back
in 1971, when money became a claim backed by reputation rather than
by commodities of any kind. At this point, money became bits.
Looking much further back to a world before cash and central banks
we see multiple 'currencies' operating at the level of communities,
and the use of barter.The newest technologies will take money back
to where it came from: a substitute for memory, to record mutual
debt obligations within multiple overlapping communities. This time
though money will be smart. It will be money that reflects the
values of the communities that produced it. Future money will know
where it has been, who has been using it and what they have been
using it for.
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