Examine what would happen if we were to deploy blockchain
technology at the sovereign level and use it to create a
decentralized cashless economy. This book explains how finance and
economics work today, and how the convergence of various
technologies related to the financial sector can help us find
solutions to problems, such as excessive debt creation, banks
getting too big to fail, and shadow banking. The Blockchain
Alternative offers sensible corrections to outdated and incorrect
dogmas, such as the efficient markets hypothesis and rational
expectations theory. You'll also be introduced to universal basic
income, the consequences of going cashless, why complexity
economics needs to be understood and what kinds of tools and
theories you'll need to redefine the existing definition of
capitalism. While the book does discuss technologies and methods
that are primed for our future, a number of references are made to
economic history and the works of great thinkers from a different
era. You'll see how the blockchain can be used to deploy solutions
that were devised in the past, but which can serve as the antidote
to our current economic malaises. You'll discover that what is
required today is not an adaptation of the old theories, but a new
methodology that is suited to this new era. Without undertaking
such an endeavor, one will always be burdened with a definition of
capitalism that is out of kilter with the evolution of our digital
humanity. What would this mean to monetary and fiscal policy,
market structure and our current understanding of economics? More
importantly would we need to change our current understanding of
capitalism? And if we were to change our perceptions, what would
the future version look like? This book answers these questions,
and analyses some of the most pertinent issues of our generation.
What You'll Learn Examine fractional banking, debt, and the
financialization of assets Gain a firm understanding of the "too
big to fail" theory, smart contracts, and Fintech Review economics
and agent-based modelling Use the blockchain and complexity
economics to rethink economics and capitalistic systems Who This
Book Is For The primary audience is bankers and other finance
professionals, policy makers, and students of finance and
economics. The secondary audience is anyone seeking a deeper
understanding of the current financial system, the blockchain, and
the future of capitalism. Praise for The Blockchain Alternative
"...a bold and pioneering effort to make sense of how emerging
digital technologies might be used to reshape public policies,
including macroeconomic and social policies, in basic ways.
Everyone interested in this very important emerging question should
read this book." - Dr. Sanjay G. Reddy, Associate Professor of
Economics at The New School for Social Research and Research
Associate of the Initiative for Policy Dialogue at Columbia
University. "Writing on blockchain today is analogous to writing
about the internet, before it became massively distributed. The
book pushes us to think about the quantum leap that this technology
may infer to our capitalist model, if scaled at the pace described
by the book. Written with the support of strong empirical models
but also with an open mind towards the future, this is a must read
for anyone interested in becoming part of the new economic
infrastructure" - Dr. Mark Esposito, Harvard University's Division
of Continuing Education & Judge Business School, University of
Cambridge "With a rigorously balanced dosage of versatility and
rationale we are allured into a multifaceted trajectory across
ingrained yet functionally arcane economic models, only to plunge
into a conceptually revolutionary realm which irreversibly
stimulates us into envisaging a fascinating novel scheme of world
order". - Ioana Surpateanu, Political Adviser to the European
Parliament "If there is only one book that I am reading on how
blockchain is going to change our lives, it will have to be "The
Blockchain Alternative." - Dr. Terence Tse, Associate Professor of
Finance, ESCP Europe Business School
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