Currency / Foreign exchange Books

Book SynopsisMoney provides a unique and illuminating perspective on the Middle Ages. In much of medieval Europe the central meaning of money was a prescribed unit of precious metal but in practice precious metal did not necessarily change hands and indeed coinage was very often in short supply. Money had economic, institutional, social, and cultural dimensions which developed the legacy of antiquity and set the scene for modern developments including the rise of capitalism and finance as well as a moralized discourse on the proper and improper uses of money. In its many forms - coin, metal, commodity, and concept - money played a central role in shaping the character of medieval society and, in turn, offers a vivid reflection of the distinctive features of medieval civilization. Drawing upon a wealth of visual and textual sources, A Cultural History of Money in the Medieval Age presents essays that examine key cultural case studies of the period on the themes of technologies, ideas, ritualTable of ContentsList of Illustrations Notes on Contributors Series Preface, Bill Maurer, University of California Irvine, USA Introduction: Approaching Medieval Money, Rory Naismith, University of Cambridge, UK 1. Money and its Technologies: The “Principles of Minting” in the Middle Ages, Oliver Volckart, London School of Economics and Political Science, UK 2. Money and its Ideas: Payment Methods in the Middle Ages, Laurent Feller, University of Paris 1 - Panthéon-Sorbonne, France 3. Money, Ritual, and Religion: Economic Value between Theology and Administration, Giacomo Todeschini, Italy 4. Money and the Everyday: Whose Currency? Richard Kelleher, Fitzwilliam Museum, Cambridge, UK 5. Money, Art, and Representation: The Powerful and Pragmatic Faces of Medieval Coinage, Rebecca R. Darley, Birkbeck, University of London, UK 6. Money and its Interpretation: Attitudes to Money in the Societas Christiana, Svein H. Gullbekk, Museum of Cultural History, University of Oslo, Norway 7. Money and the Issues of the Age: The Plurality of Money, Rory Naismith, University of Cambridge, UK Notes Bibliography Index

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Book SynopsisA leading legal scholar offers a compelling new theory to explain the meteoric rise of non-fungible tokens (NFTs) and their impact on art, business, entertainment, and society, and explains how they are revolutionizing our understanding of ownership.If you buy an NFT, do you own anything?Trade Review"Forget the hype and hysteria—Web3 and NFTs will provide enormous benefits to artists and commerce. And this book, by on of the Internet's most careful and experienced scholars, shows just how. In a powerful analysis that makes understandable the link between the law of IP and the code of Web3, Lee points to a genuinely productive future that will empower digital creativity far more effectively than IP law alone ever has. This is essential reading for our creative future." — Lawrence Lessig, Roy L. Furman Professor of Law and Leadership, Harvard Law School "This book will forever change the way you think about the creator economy. An eye-opening account of the relationships between artists, businesses, platforms, and consumers, this is the foundational book explaining the sweeping transformations just over the horizon. Ed Lee has written both a warning and a blueprint for a better future." — Amy Webb, author of The Big Nine and The Genesis Machine "Engagingly written, this is not just a serious argument for the value of NFTs to creators but also a remarkable story about the growth of a whole new type of property. Highly recommended." — Mark A. Lemley, professor, Stanford Law School "Creators Take Control sends the reader on an exhilarating journey through the dynamic world of artistic and business innovation around digital assets. With a deft blend of vivid examples, technical explanation, and legal analysis, Lee shows that the significance of nun-fungible tokens (NFTs) is not their eye-popping prices; it's the new forms of ownership, organization, and creative activity they enable." — Kevin Werbach, First Pacific Company Professor and Chair, Department of Legal Studies Business Ethics, the Wharton School of the University of Pennsylvania “Creators Take Control taps into the urgent need for mainstream awareness about this fast-growing, fascinating industry.” — Art Plugged "If you read one book about the NFT space, read this one." — Magnus Resch, Leading Art Market Economist

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Book SynopsisIs globalization leading us toward a world of fewer and fewer currencies and, consequently, simplified monetary management? This book argues that this view is wrong. It demonstrates that the global population of currencies is set to expand greatly, not contract, making monetary governance more difficult, not less.Trade Review"An informative discussion of various currency arrangements, from exclusive reliance on a national currency to bimonetarism to the adoption of foreign currency as official legal tender, touching on both academic and practical arguments for each."--Richard N. Cooper, Foreign Affairs "Cohen has produced yet another excellent volume on the political economy of international monetary affairs... Like most of Cohen's scholarship, [this book] displays the author's remarkable facility with the vast breadth of issues, theories, puzzles, and esoterica associated with monetary matters, as well as a confident command of monetary policy and history."--Jonathan Kirshner, Perspectives on PoliticsTable of ContentsList of Illustrations ix Acknowledgments xi Introduction xiii Abbreviations xxi One: The Changing Geography of Money 1 Two: Four Directions 33 Appendix: Tables 62 Three: Life at the Peak 67 Four: The Art of Surviva l99 Five: Follow the Leader 123 Six: Hanging Together 153 Seven: New Frontiers 179 Eight: Governing the New Geography 203 Notes 223 References 247 Index 285

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Book SynopsisThe crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. This title provides an insider's look into how central banks have evolved and why they are critical to the functioning of market economies.Trade ReviewNamed one of Financial Times (FT.com)'s Books of the Year in Nonfiction Round-Up in the Business & Economics list for 2010 "[T]he depth of its analysis will make Banking on the Future an important source of insights for years to come."--Ed Crooks, Financial Times "The best assessment yet of the role played by the leading western central banks--the U.S. Federal Reserve, the ECB and the Bank of England--in the run-up to the financial crisis and beyond, from two former insiders at the top level of UK policymaker."--Financial Times (FT Critics Pick 2010) "Buy the book with confidence."--Jane Fuller, Financial World "Books on central banking usually vie with pills as sleep inducers, but Banking on the Future: The Fall and Rise of Central Banking is actually a page-turner."--Andrew Allentuck, National Post "In this forensic and engaging overview, Susan Hough presents a frank, entertaining and personal review of the history of ideas, practice, personalities and experience in the science of earthquake prediction. Although Hough is a respected scientist, she takes a journalist's viewpoint here, not shying away from legitimate criticism of those she regards as friends, and taking on the credulous at the edge of, or even beyond, the mainstream scientific."--Ian Main, Times Higher Education "[A] valuable, accessible volume... This clear, nontechnical guide on the present and future of central banking from two eminent policy makers could not have come at a better time."--Choice "A better title for this book would have been: All You Ever Wanted to Know About Central Banking and More... Davies and Green provide much to inform and interest diverse audiences...[I]t's a book that practitioners and students of central banking need to have on their shelf."--Management Today "We get an insider's view of the nuts and bolts of central banking, but not so inside that the authors are uncritical. They readily identify the pressure to change regulations or advice when regulators feel under pressure to display expertise in new issues... These are snippets of insight that only critical insiders know how to capture."--Dick Bryan, Australian Review of Public AffairsTable of ContentsPreface vii Abbreviations ix Introduction 1 Chapter One: What Is Central Banking and Why Is It Important? 9 Chapter Two: Monetary Stability 23 Chapter Three: Financial Stability 52 Chapter Four: Financial Infrastructure 90 Chapter Five: Asset Prices 115 Chapter Six: Structure, Status, and Accountability 141 Chapter Seven: Europe: A Special Case 182 Chapter Eight: Central Banking in Emerging Market Countries 212 Chapter Nine: Financial Resources, Costs, and Efficiency 236 Chapter Ten: International Cooperation 252 Chapter Eleven: Leadership 270 Chapter Twelve: An Agenda for Change 285 Afterword 297 Notes 301 Index 317

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Book SynopsisVariations in the foreign exchange market influence various aspects of the world economy, and understanding these dynamics is one of the great challenges of international economics. This book provides a comprehensive examination of the standard theories and research in exchange-rate economics.Trade Review"This ambitious and impressive book covers the international macroeconomics and finance literature on nominal exchange-rate determination. It will be a useful reference for those who want to understand standard theoretical models and empirical techniques, and for those who want to specialize in the microstructure of the foreign exchange markets."—Pierre-Olivier Gourinchas, University of California, Berkeley"There is no other book of this kind. Sound and interesting, it provides a rigorous treatment of exchange-rate economics. The new concepts and interpretation of exchange-rate behavior will spur more research in this area. The book will interest a broad community in international finance, practitioners in the foreign exchange market, and policymakers."—Lucio Sarno, Cass Business School, City University LondonTable of ContentsPreface ix PART I: MACRO MODELS Chapter 1: Macro Models without Frictions 3 1.1 Preliminaries 4 1.2 Empirical Characteristics of Real Exchange Rates 8 1.3 Macro Exchange-Rate Models 21 1.4 Summary 50 1.5 Bibliography 51 1.6 Review Questions 52 1.A Appendix 54 Chapter 2: Macro Models with Frictions 63 2.1 The Model 63 2.2 Sticky Prices 72 2.3 International Risk-Sharing 96 2.4 Incomplete Markets 97 2.5 Summary 116 2.6 Bibliography 117 2.7 Review Questions 119 2.A Appendix 121 Chapter 3: Empirical Macro Models 130 3.1 Present Value Models 130 3.2 Monetary Models 147 3.3 External Balance Models 158 3.4 Predicting Exchange-Rate Movements 165 3.5 Summary 171 3.6 Bibliography 172 3.7 Review Questions 173 3.A Appendix 176 PART II: MICROSTRUCTURE MODELS Chapter 4: Rational Expectations Models 183 4.1 The Model 183 4.2 Equilibrium with Common Information 186 4.3 Equilibrium with Heterogeneous Information 196 4.4 Equilibrium Problems 213 4.5 Summary 216 4.6 Bibliography 217 4.7 Review Questions 217 4.A Appendix 220 Chapter 5: Sequential Trade Models 227 5.1 The Model 227 5.2 Exchange-Rate Determination 231 5.3 Exchange-Rate Dynamics 236 5.4 Information Flows 245 5.5 Public versus Private Information 253 5.6 Uninformed Traders 255 5.7 Summary 257 5.8 Bibliography 258 5.9 Review Questions 258 Chapter 6: Currency-Trading Models 261 6.1 The Structure of the FX Market 261 6.2 The Portfolio Shifts Model 271 6.3 Extending the Portfolio Shifts Model 289 6.4 Summary 295 6.5 Bibliography 295 6.6 Review Questions 296 6.A Appendix 297 Chapter 7: Currency-Trading Models: Empirical Evidence 302 7.1 Daily Analysis 302 7.2 Intraday Analysis 314 7.3 Summary 335 7.4 Bibliography 336 7.5 Review Questions 337 7.A Appendix 338 Chapter 8: Identifying Order Flow 342 8.1 Order Flow in a Rational Expectations Model 342 8.2 Order Flow in a Limit-Order Market 352 8.3 Estimating Order Flow 359 8.4 Summary 369 8.5 Bibliography 370 8.6 Review Questions 371 8.A Appendix 372 PART III MICRO-BASED MODELS Chapter 9: Order Flows and the Macroeconomy 377 9.1 A Micro-Based Macro Model 378 9.2 Empirical Implications 389 9.3 Re-Examining the Disconnect Puzzle 395 9.4 Summary 411 9.5 Bibliography 412 9.6 Review Questions 413 9.A Appendix 415 Chapter 10: Exchange Rates, Order Flows, and Macro Data Releases 422 10.1 The Macro Perspective 422 10.2 Micro Perspective I: High-Frequency Dynamics 429 10.3 Micro Perspective II: Low-Frequency Dynamics 446 10.4 Summary 458 10.5 Bibliography 459 10.6 Review Questions 459 10.A Appendix 462 Chapter 11: Exchange-Rate Risk 464 11.1 FX Returns and Interest Rates 464 11.2 Macro Models 474 11.3 Micro-Based Models 496 11.4 Summary 512 11.5 Bibliography 513 11.6 Review Questions 514 11.A Appendix 518 References 523 Index 535

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Book SynopsisProponents of cryptocurrency have argued it has the potential to drive economic prosperity and to help reimagine social benefits in many spaces across the world. However, as the knowledge and use of cryptocurrency increases, so do questions about trust, identity, privacy, and security. This new book connects the literature on public policy and cryptocurrency, asking: What are the governance and democracy implications of the rise in cryptocurrency use? Beginning with a conceptual overview of cryptocurrency and how governmental actions (or inaction) led to its creation, author Donovan Johnson argues that symbiotic relationships can and do exist among cryptocurrency, democracy, and governance in the public policy/administration domain. Principles such as equity and inclusion, efficiency and effectiveness, accountability, and quality of life are explored as conduits through which cryptocurrency interfaces with public policy, democracy, and good governance. TTrade Review"This book is timely and brilliantly written. It sets the stage and the framework for a very important conversation in the realm of governance. Very important questions are asked and answered in this volume, which paves the way for further exploration into this research area. The overall architecture of digital transformation in governance will be made better because of the contribution of this book!" - Professor Lloyd Waller, The University of the West Indies (UWI), Jamaica"Dr. Donavon Johnson has taken a bold initiative in exploring cryptocurrency from the perspectives of democracy, public policy, governance, and public administration. This is an ambitious endeavour, given the enormous nature of each of these topics. Yet, Dr. Johnson navigates the territory in an accessible way for readers, simplifying complex material with very little technical jargon. This would be an interesting read for cryptocurrency enthusiasts and its policy advocates who aim to find deeper connections." - Professor Sukumar Ganapati, Florida International University, USATable of ContentsIntroduction: Public policy and administration, democracy and governance, and cryptocurrency implications 1. Crypto-comprehension: A conceptual glance at cryptocurrency, its evolution, and government’s role in its creation 2. Crypto-citizenship: How governments’ embrace of cryptocurrencies shape citizen-state interactions and experiences of citizenship 3. Cryptocurrency and industry 4. Cryptocurrency and its implications for democracy, governance, and governance imperatives 5. Crypto-readiness: How prepared are governments to embrace cryptocurrency and to deal with the surge in cryptocurrency usage? 6. Crypto-legislation: Examining the legislative and policy frameworks established by governments to regulate cryptocurrencies 7. Rethinking crypto-legislation: The legislative and policy fundamentals of cryptocurrency regulation Conclusion

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Book SynopsisStephen Deng is Associate Professor of English at Michigan State University, USA.Table of ContentsList of Illustrations Notes on Contributors Series Preface, Bill Maurer, University of California Irvine, USA Introduction, Stephen Deng, Michigan State University, USA 1. Money and its Technologies: Mining, Metallurgy, Minting, and Non-Metallic Monetary Forms, Arturo Giráldez, University of the Pacific, Stockton, USA 2. Money and its Ideas: Justice, Sovereignty, and the Idea of Money as Commodity, Bradley D. Ryner, Arizona State University, USA 3. Money, Ritual, and Religion: God’s Stamp and the Problem of Usury, Stephen Deng, Michigan State University, USA 4. Money and the Everyday: Reputation, History, and Symbolism on the Eastern African Coast, Stephanie Wynne-Jones, University of York, UK 5. Money, Art, and Representation: Text, Image, and Message, Barrie Cook, British Museum, UK 6. Money and its Interpretation: Two Early Modern Transactions, David J. Baker, University of North Carolina, Chapel Hill, USA 7. Money and the Issues of the Age: Coinage, Sovereignty, and the Liquidity of Imagination, Brian Sheerin, St. Edward's University, Austin, USA Notes Bibliography Index

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Book SynopsisThe nineteenth century was a time of intense monetization of social life: increasingly money became the only means of access to goods and services, especially in the new metropolises; new technologies and infrastructures emerged for saving and circulating money and for standardizing coinage; and paper currencies were printed, founded purely on trust without any intrinsic metallic value. But the monetary landscape was ambivalent so that the forces unifying monetary practice (imperial and national currencies, global monetary standards such as the gold standard) coexisted with the proliferation of local currencies. Money became a central issue in politics, the arts, and sciences - and the modern discipline of economics was born, with its claim to a monopoly on knowing and governing money. Drawing upon a wealth of visual and textual sources, A Cultural History of Money in the Age of Empire presents essays that examine key cultural case studies of the period on the themes of technolTable of ContentsList of Illustrations Notes on Contributors Series Preface, Bill Maurer, University of California Irvine, USA Introduction: Monetary Landscapes of the Nineteenth-Century, Federico Neiburg, Federal University of Rio de Janeiro, Brazil and Nigel Dodd, London School of Economics and Political Science, UK 1. Money and its Technologies: Inventing the Future through Money - Images of Monetization in Nineteenth Century American Patents, Juan Pablo Pardo-Guerra, University of California ,San Diego, USA 2. Money and its Ideas: Colonial Currencies, Money Illusions, Gopalan Balachandran, Graduate Institute of International and Development Studies, Geneva, Switzerland 3. Money, Ritual, and Religion: Reason, Race, and the Re-enchantment of the World, Bill Maurer, University of California Irvine, USA 4. Money and the Everyday: Paper Money, Community, and Nationalism in the Antebellum US, Michael O’Malley, George Mason University, USA 5. Money, Art, and Representation: ‘t’was only a balloon’ - Seeing and Satire in the Cultural History of Money, Nicky Marsh, University of Southampton, UK 6. Money and its Interpretation: The Century of Mobility and Acceleration and its Money, Leopoldo Waizbort, University of São Paulo, Brazil 7. Money and the Issues of the Age, Nigel Dodd, London School of Economics and Political Science, UK Notes Bibliography Index

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Book SynopsisTaylor C. Nelms is the Managing Director of Research at the Filene Research Institute, USA. David Pedersen is Associate Professor of Anthropology at the University of California, San Diego, USA.Table of ContentsList of Illustrations Notes on Contributors Series Preface, Bill Maurer, University of California Irvine, USA Introduction: Money - Cultural, Historical, Modern, Taylor C. Nelms, Filene Research Institute, USA and David Pedersen, University of California, San Diego, USA 1. Money and its Technologies: Making Money Move in the Modern Era, Lana Swartz, University of Virginia, USA and David L. Stearns, University of Washington, USA 2. Money and its Ideas: Between Technocracy and Democracy, Michael Beggs, University of Sydney, Australia 3. Money, Ritual, and Religion: The Horror of It (the Prosperity Gospel and the Myth of Deterritorialization), Jon Bialecki, University of Edinburgh, UK 4. Money and the Everyday: Instability and Inventiveness in the Modern Age, Taylor C. Nelms, Filene Research Institute, USA and Jane I. Guyer, Johns Hopkins University, USA 5. Money, Art, and Representation: Six Artists, Two Crises (1973, 2008), Max Haiven, Lakehead University, Canada 6. Money and its Interpretation: The Future of Money in Speculative Fiction, Sherryl Vint, University of California, Riverside, USA 7. Money and the Issues of the Age: The Nature of Money and Post-Crisis Proposals for Reform, Yeva Nersisyan, Franklin and Marshall College, USA and L. Randall Wray, Bard College, USA Notes Bibliography Index

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Book SynopsisA definitive, all-encompassing book on digital assets of all types for investors In Mastering Crypto Assets: Investing in Bitcoin, Ethereum and Beyond, a team of seasoned investors and digital asset strategists presents a comprehensive guide aimed at institutional and professional investors for integrating crypto assets into traditional portfolios. The book offers in-depth explanations of the structure of this new asset class and its impact on investment portfolios. It guides readers on using fundamental and quantitative criteria to select blockchain-based assets, grounded in a robust foundation of knowledge and evidence. The authors demonstrate how to apply quantitative valuation concepts to digital assets like Bitcoin, understanding their role as digital stores of value in a traditional investment portfolio. The book also delves into the unique risk and return characteristics of various digital asset sectors, adapting conventional investing methods to the digital realm. It goes beyond direct crypto asset investments, introducing related equities and strategies for accessing digital assets in restricted settings. It discusses both indexed and active strategies in the context of crypto assets. A key feature of the book is exclusive interviews with industry figures such as Jan van Eck (VanEck), Peter L. Brandt (Legendary Trader), and Fred Thiel (Marathon Digital), with these interviews accessible through QR codes in the book for extended video content. This provides a dynamic and interactive learning experience. Moreover, the book benefits from invaluable research assistance from Figment and CCData, enriching its analytical depth. It also includes insightful guest articles from digital asset experts like Matthew Sigel (VanEck), Marco Manoppo (Digital Asset Research), Marcel Kasumovich (Coinbase Asset Management), Timothy Peterson (Cane Island Digital Research), Gregory Mall and Rohan Misra (AMINA), and thought leaders from Token Terminal. Mastering Crypto Assets is an invaluable resource not just for institutional and individual investors, but for anyone keen on adopting a sound, evidence-based approach to digital asset investment.Table of ContentsAcknowledgments ix Preface xi Chapter 1: Introduction. 1 Chapter 2: Bitcoin— A Brief History 3 2.1 From the Fuel Card to the Trustless Payment System 4 2.2 Enter Satoshi Nakamoto 7 2.3 Bitcoin and Blockchain: A Closer Look 9 2.4 The Fundamentals of Bitcoin 11 2.5 The Driving Forces behind the Rise of Bitcoin 15 2.6 Interview with Fred Thiel 17 2.7 References 25 Chapter 3: The Taxonomy of Crypto Assets 27 3.1 Navigating the Crypto Categorization 27 3.2 The Difference between Token and Coin 29 3.3 Payments 30 3.4 Stablecoins 35 3.5 Smart Contract Platforms 41 3.6 Infrastructure Applications 51 3.7 Centralized Exchanges 57 3.8 Decentralized Finance 61 3.9 Non- fungible Tokens 66 3.10 Media and Entertainment 68 3.11 Conclusion 74 3.12 References 74 Chapter 4: Valuation of Crypto Assets 77 4.1 Tokens Explained: What They Are and Why They Matter 77 4.2 Value Capturing in Crypto: Market Dynamics 82 4.3 Due Diligence: The Importance of Digital Asset Vetting 88 4.4 The Network Effect and Metcalfe’s Law 97 4.5 Statistical Valuation Approach 111 4.6 References 115 Chapter 5: Cryptos as an Asset Class. 117 5.1 Characteristics of an Asset Class 117 5.2 Conventional Asset Classes 118 5.3 Crypto Assets 140 5.4 Crypto Assets in the Portfolio Context 154 5.5 Crypto Stocks: Alternative, Addition, or Neither? 164 5.6 Interview with Jan van Eck 175 5.7 Conclusion 189 5.8 References 190 Chapter 6: Asset Allocation. 193 6.1 Foundations of Asset Allocation 194 6.2 Approaches to Asset Allocation 202 6.3 Navigating Crypto Cycles—More Than a Story 209 6.4 Influence of Different Crypto Asset Allocations 219 6.5 Dynamic Risk Management 229 6.6 Interview with Peter L. Brandt 234 6.7 Conclusion 248 6.8 References 249 Chapter 7: From Staking to Earning. 251 7.1 Background of Crypto Staking 251 7.2 The Case for Staking 252 7.3 The Origin and Mechanism of Staking Rewards 255 7.4 Case Study: Understanding Ethereum Staking Rewards Post- Merge 256 7.5 How to Participate in Protocol Staking 261 7.6 Understanding Staking Risks 263 7.7 Liquid Staking Protocols 265 7.8 Conclusion 266 7.9 References 267 Chapter 8: Index Investments 269 8.1 Theory Underlying the Case for Index- Based Investments 269 8.2 Digital Asset Indexing 280 8.3 The Importance of Exchange Vetting and Clean Prices for Institutional Investors 282 8.4 Pricing: The Foundation of Capital Markets 286 8.5 Moving Out the Risk Curve— The Benefits of Investing in a Multi- Token Index 291 8.6 Crypto Indexing: Can Traditional Strategies Translate to the Fast- Paced Digital Asset Market? 299 8.7 Refining Crypto Asset Portfolios: Risk Parity and Beyond— Exploring Advanced Indexing Strategies in Crypto 303 8.8 Benchmark Rates: Safe against Manipulation? 309 8.9 Conclusion on Index Investments 315 8.10 References 316 Chapter 9: Outlook: Navigating the Future— The Expansive Potential of Digital Assets 319 9.1 Reference 323 About the Authors. 325 Index 327

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Book SynopsisIgor Pejic is a leading expert on tech-driven shifts in banking and finance. Having held multiple management positions in banking, he is based at one of the largest banking groups in Europe. Pejic is an international keynote speaker and expert panelist, voted by McKinsey and The Financial Times as one of three finalists in the Bracken Bower Prize with his work on blockchain. He is the author of Blockchain Babel also published by Kogan Page, winner of the Independent Press Award 2020 and profiled as a Financial Times book of the month.Trade Review"A deep dive into the fast-changing frontier of money from blockchain and Big Tech to Web3." * Ronit Ghose, Global Head, Future of Finance, Citi *"A must read for anyone who thinks they understand the ongoing transformation of the orthodox geopolitical landscape. A brilliant examination of the fact that it's not who owns tanks but banks that matter. The ownership of data including your identity, who controls marketing and fulfilment for SME ecommerce, who designs the prevailing digital token of exchange and how it facilitates global payments will determine whether central banks and financial services incumbents or fin and big-tech insurgents will control our destinies." * Bob Wigley, Chairman, UK Finance *"This wide ranging book is a must-read for builders and operators looking to tame the disruption happening in the financial industry. From exploring the role of centralized technology companies to understanding the infrastructure of decentralized blockchains, readers will learn about the most important levers of tomorrow's economic landscape." * Lex Sokolin, Chief Economist, ConsenSys & Founder, Fintech Blueprint *"Big Tech in Finance is a must-read for anyone interested in the impact of digital on the finance industry. The book provides a comprehensive overview of how big tech companies and new technologies such as Distributed Ledgers are transforming the landscape, and how these trends are converging. The author's ability to break down complex concepts into clear and concise chapters makes this book accessible to readers with varying levels of expertise. Overall, it offers very valuable insights into the future of digital finance by explaining its history." * Huy Nguyen Trieu, Co-founder, CFTE (Centre for Finance, Technology and Entrepreneurship) *"Many of us working in financial services innovation can clearly see that Big Tech is circling the banking and finance industry. In this book Igor describes why Big Tech is interested and what they will probably do next. What is more interesting is what should be done about it - banning them would deprive us of the innovation and improvement they will bring. Big Tech needs to be monitored and regulated. It is time that regulators and governments worldwide realise that they need to up their game to address a fast changing industry. A must read book that is also fun. Don't miss it." * Alessandro Hatami, Founder, Pacemakers.io & co-author of Reinventing Banking and Finance *"Big Tech in Finance" provides a comprehensive and insightful analysis of the impact that Big Tech has on the finance industry. It is a must-read for anyone interested in understanding the motivations, risks and opportunities associated with Big Tech's foray into finance and how to navigate the ever-changing world of blockchain technology." * Karl Zettl, CEO and Co-Founder, Iknaio Cryptoasset Analytics *"Blockchain technology has the potential to revolutionize society for the better, and those institutions embracing this technology will thrive in a society where data is controlled by the user. Igor succinctly describes how the world is changing, what the impact will be on the financial services industry and how the future of money will change geopolitics. A must-read if you want to understand the future of finance." * Dr Mark van Rijmenam, strategic futurist, author and speaker *"This is a book that should make anyone interested in the future of our economy sit up and take notice. The world of the 2020s will be defined by the clash of the titans of tech and finance, and it will be a new wave of technologies - like blockchain - that will determine the winner. Igor Pejic's sharp and thoughtful book gives an up-to-the-minute view of what will drive the economy of the next ten years, and what is at stake for everyone today!" * Laura Stojcevic *Table of Contents Chapter - 00: Introduction; Chapter - 01: Finance as Big Tech’s El Dorado; Chapter - 02: Railroads for a new age – birth of the blockchain; Chapter - 03: Lure of the wild – redefining the idea of money; Chapter - 04: Two roads ahead – centralization; Chapter - 05: Land rush – crypto-economics; Chapter - 06: DeFi unicorn stampede; Chapter - 07: The decentralization delusion; Chapter - 08: Robber barons feel assured… and overshoot; Chapter - 09: The sheriffs come to town – regulation bends the trajectory; Chapter - 10: Dawn of a new era – central bank digital currencies vs private stablecoins; Chapter - 11: Commercial banks and the frontier experience; Chapter - 12: Setting out for the next frontier – the metaverse and Web3; Chapter - 13: Final remarks; Chapter - 14: Glossary;

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Book SynopsisIgor Pejic is a leading expert on tech-driven shifts in banking and finance. Having held multiple management positions in banking, he is based at one of the largest banking groups in Europe. Pejic is an international keynote speaker and expert panelist, voted by McKinsey and The Financial Times as one of three finalists in the Bracken Bower Prize with his work on blockchain. He is the author of Blockchain Babel also published by Kogan Page, winner of the Independent Press Award 2020 and profiled as a Financial Times book of the month.Trade Review"A deep dive into the fast-changing frontier of money from blockchain and Big Tech to Web3." * Ronit Ghose, Global Head, Future of Finance, Citi *"A must read for anyone who thinks they understand the ongoing transformation of the orthodox geopolitical landscape. A brilliant examination of the fact that it's not who owns tanks but banks that matter. The ownership of data including your identity, who controls marketing and fulfilment for SME ecommerce, who designs the prevailing digital token of exchange and how it facilitates global payments will determine whether central banks and financial services incumbents or fin and big-tech insurgents will control our destinies." * Bob Wigley, Chairman, UK Finance *"This wide ranging book is a must-read for builders and operators looking to tame the disruption happening in the financial industry. From exploring the role of centralized technology companies to understanding the infrastructure of decentralized blockchains, readers will learn about the most important levers of tomorrow's economic landscape." * Lex Sokolin, Chief Economist, ConsenSys & Founder, Fintech Blueprint *"Big Tech in Finance is a must-read for anyone interested in the impact of digital on the finance industry. The book provides a comprehensive overview of how big tech companies and new technologies such as Distributed Ledgers are transforming the landscape, and how these trends are converging. The author's ability to break down complex concepts into clear and concise chapters makes this book accessible to readers with varying levels of expertise. Overall, it offers very valuable insights into the future of digital finance by explaining its history." * Huy Nguyen Trieu, Co-founder, CFTE (Centre for Finance, Technology and Entrepreneurship) *"Many of us working in financial services innovation can clearly see that Big Tech is circling the banking and finance industry. In this book Igor describes why Big Tech is interested and what they will probably do next. What is more interesting is what should be done about it - banning them would deprive us of the innovation and improvement they will bring. Big Tech needs to be monitored and regulated. It is time that regulators and governments worldwide realise that they need to up their game to address a fast changing industry. A must read book that is also fun. Don't miss it." * Alessandro Hatami, Founder, Pacemakers.io & co-author of Reinventing Banking and Finance *"Big Tech in Finance" provides a comprehensive and insightful analysis of the impact that Big Tech has on the finance industry. It is a must-read for anyone interested in understanding the motivations, risks and opportunities associated with Big Tech's foray into finance and how to navigate the ever-changing world of blockchain technology." * Karl Zettl, CEO and Co-Founder, Iknaio Cryptoasset Analytics *"Blockchain technology has the potential to revolutionize society for the better, and those institutions embracing this technology will thrive in a society where data is controlled by the user. Igor succinctly describes how the world is changing, what the impact will be on the financial services industry and how the future of money will change geopolitics. A must-read if you want to understand the future of finance." * Dr Mark van Rijmenam, strategic futurist, author and speaker *"This is a book that should make anyone interested in the future of our economy sit up and take notice. The world of the 2020s will be defined by the clash of the titans of tech and finance, and it will be a new wave of technologies - like blockchain - that will determine the winner. Igor Pejic's sharp and thoughtful book gives an up-to-the-minute view of what will drive the economy of the next ten years, and what is at stake for everyone today!" * Laura Stojcevic *Table of Contents Chapter - 00: Introduction; Chapter - 01: Finance as Big Tech’s El Dorado; Chapter - 02: Railroads for a new age – birth of the blockchain; Chapter - 03: Lure of the wild – redefining the idea of money; Chapter - 04: Two roads ahead – centralization; Chapter - 05: Land rush – crypto-economics; Chapter - 06: DeFi unicorn stampede; Chapter - 07: The decentralization delusion; Chapter - 08: Robber barons feel assured… and overshoot; Chapter - 09: The sheriffs come to town – regulation bends the trajectory; Chapter - 10: Dawn of a new era – central bank digital currencies vs private stablecoins; Chapter - 11: Commercial banks and the frontier experience; Chapter - 12: Setting out for the next frontier – the metaverse and Web3; Chapter - 13: Final remarks; Chapter - 14: Glossary;

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Book SynopsisWho really benefits from a cashless society?Many of us rarely use cash these days. And the reach of corporations into our lives via cards and apps has never been greater. But what we're told is inevitable is actually the work of powerful interests: the great battle of our time is for ownership of the digital footprints that make up our lives.Cloudmoney tells a revelatory story about the fusion of big finance and tech, which requires physical cash to be replaced by digital money or 'cloudmoney'. Diving beneath the surface of the global financial system, Brett Scott uncovers a long-established lobbying infrastructure waging a covert war on cash under the banner of progress but at the cost of our privacy, politics and individual freedom.'A wonderfully revolutionary text' YANIS VAROUFAKIS'Scott has struck an important vein that is vital in a digital age' FINANCIAL TIMES'Brilliant, fascinating and utterly accessible' KATE RAWORTH, author of Doughnut EconomicsTrade ReviewIf people could see clearly how their money is created, they would rebel - especially now that it is digitised. Brett Scott's highly readable and topical Cloudmoney is, in this sense, a wonderfully revolutionary text -- Yanis VaroufakisCloudmoney is a brilliant, fascinating and utterly accessible book - a pioneering and political guide to the fast-evolving web of global finance... If you want to understand what money is - and what it is in danger of becoming - start right here -- Kate Raworth, author of Doughnut EconomicsA fascinating and readable guide to the future, and how we can reclaim that future from the clutches of Big Finance and Big Tech -- Grace BlakeleyThe rush to a cashless society isn't about convenience. It is about power. Brett Scott cuts through the hype with this brilliant critique of digital money and the rise of fintech empires, while offering a compelling alternative vision. Don't miss this book -- Jason Hickel, author of Less Is MoreYour head has been deliberately filled with falsehoods and confusion about money. This brilliant book helps you understand how that happened, who profits from our collective financial ignorance, and how we might best fight back. Filled with dazzling insight and admirable clarity, this is a book you'll soon be recommending far and wide -- Raj Patel, author of Stuffed and StarvedCloudmoney does well to map out how the switch away from cash is being spun as natural progress... Scott has struck an important vein, that is vital in a digital age * Financial Times *An important reflection on the new world of finance. Brett Scott writes with gusto about blockchain, crypto and the power nexus between Big Tech and the banks in a cashless society -- Lionel Barber, author of The Powerful and The DamnedWith this wonderful, lucid and urgently important book, Brett Scott is hunting big game. Get a copy - and make sure you pay with cash -- Nicholas Shaxson, author of Treasure IslandsQuietly radical and unexpectedly beautiful, this is so much more than a book about money. Brett Scott propels the reader to a new understanding of today's capitalism through humour, first-hand reportage, patient explanation, deep political analysis and a lot of heart. Let him change the way you see the world - he has for me -- Sarah Jaffe, author of Work Won't Love You BackArise all data donors from your slumber - and read this book. You - we - have been sucked into the "tech-finance vortex" that is the new, dangerous alliance of Big Finance and Big Tech. Addicted to our apps, we are trapped in a dizzying whirlpool of surveillance, allowing the FinTech vortex to exercise power over, and profit from, every transaction undertaken. Scott, steeped in the sector, guides us through it, and helps readers understand what is happening. He invites us to revolt and jam the Big Fusion. His book is an urgent must-read -- Ann PettiforIn a book that is simultaneously irreverent, hard-hitting and entertaining, Brett Scott blows apart conventional myths about cash, digital money, and crypto, and brilliantly shows us what's at stake in the coming battles for the soul of money -- Stephanie Kelton, Author of The Deficit MythA groundbreaking book * Morning Star *

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Book SynopsisIn their short history, Bitcoin and other cryptocurrencies have gone through booms, busts, and internecine wars, recently reaching a market valuation of more than $2 trillion. The central promise of crypto endures-vast fortunes made from decentralized networks not controlled by any single entity and not yet regulated by many governments.The recent growth of crypto would have been all but impossible if not for a brilliant young man named Vitalik Buterin and his creation: Ethereum. In this book, Laura Shin takes readers inside the founding of this novel cryptocurrency network, which enabled users to launch their own new coins, thus creating a new crypto fever. She introduces readers to larger-than-life characters like Buterin, the Web3 wunderkind; his short-lived CEO, Charles Hoskinson; and Joe Lubin, a former Goldman Sachs VP who became one of crypto's most well-known billionaires. Sparks fly as these outsized personalities fight for their piece of a seemingly limitless new business opportunity.This fascinating book shows the crypto market for what it really is: a deeply personal struggle to influence the coming revolution in money, culture, and power.

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Book SynopsisThe advent of new digital currencies has challenged our notions about money, its function and purpose, and our faith in the financial and banking structures that underpin its legitimacy. Oonagh McDonald charts the spectacular rise of cryptocurrencies over the past decade and considers the opportunities and threats that cryptocurrencies pose to existing fiat currencies. This revised edition includes a new chapter dealing with the high-profile bankruptcies of the recent “crypto winter”. The book considers how regulatory bodies have been slow to respond to a technology that is evading existing regulatory frameworks. Urgent and more robust protection is needed from fraudulent initial coin offerings, scams and hacks. Throughout her analysis, McDonald shows that trust is fundamental to the operation of finance and that this will ultimately protect commercial bank money from the threat of new digital currencies. The book offers readers an insightful appraisal of the future of money and the challenges facing regulatory bodies.Trade ReviewHarnessing her knowledge and experience following a long and distinguished career as a regulator and in the public sphere, Dr McDonald has produced an erudite and readable book on a very complex and puzzling issue that of digital currencies and alternative money. What sets this book apart from other similar attempts is clear and impartial analysis combined with a very good understanding of the nuts and bolts of digital currencies. It will prove a valuable companion for the lay reader with an interest in the rise of alternative money and a good source of study for the expert. -- Emilios Avgouleas, Chair of International Banking Law and Finance, University of EdinburghDr McDonald's rigorously researched analysis of the development of cryptocurrencies is a must-read for anyone who has a stake in the future of money. It is an historical tour de force that painstakingly teases out of every corner of the cryptocurrency world the critical issues that governments, policy-makers, and consumers must consider before abandoning government fiat money. -- Thomas P. Vartanian, Executive Director and Professor of Law, Program on Financial Regulation and Technology, George Mason UniversityEveryone fascinated by how the cryptocurrency phenomenon has created a whole sector of ventures to furnish 'alternative currencies', while the dollar price of a Bitcoin boomed from 8 cents to a high of more than $60,000, must wonder whether all this will really bring about a revolution in the nature of money. Will Bitcoin’s libertarian dream to displace central bank fiat currency be achieved? Or ironically, will central banks take over digital currencies and make themselves even more dominant monetary monopolies than before? Oonagh McDonald, always a voice of financial reason, provides a thorough consideration of these questions and of cryptocurrency ideas and reality in general, with the intertwined issues of technology, regulation, trust, and government monetary power. This is a very insightful and instructive guide for the intrigued. -- Alex J. Pollock, Distinguished Senior Fellow Emeritus, R Street Institute, and former Principal Deputy Director, Office of Financial Research, US TreasuryA very readable, accessible and informed discussion of the evolution and expansion of cryptocurrencies. This engaging and progressive assessment of cryptocurrency developments details many of the required conditions and hurdles to be overcome to ensure the future stability of these payment systems. Required reading for both policy-makers and academics working in this field. -- John Ashton, Professor of Banking, Bangor UniversityOonagh McDonald has done it again. In this ambitious book, she helps the rest of the world catch up with her on the opportunities and risks associated with stable coins. Even if one may disagree with her about the future of stable coins (and I do a bit), this book is an invaluable resource, especially as a teaching tool, because of McDonald’s ability to synthesize and interpret a vast amount of information about complex and novel practices. -- Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia Business SchoolAn excellent review of the key issues around cryptocurrencies and money. It takes a very broad perspective and covers the essential technical, regulatory, economic and policy issues in a very informed and critical way. -- Robert Hudson, Professor of Finance, University of Hull“What is money? Are Bitcoins and other cryptocurrencies money in the way we the majority, who live in the real world, understand money? Central banks are about to move into digital currency, as if to catch up with the cryptos. Is that money? Oonagh McDonald, philosopher and former parliamentarian with extensive knowledge and experience of financial regulation, is the person to provide a clear answer. She shows why it is trust and not technology that determines what is money. As billionaires lose their heads chasing cryptos, trust McDonald to guide you through the tangled woods of digital finance.” -- Lord Desai, Emeritus Professor of Economics, London School of EconomicsTable of Contents1. Introduction: Bitcoin beginnings 2. New cryptocurrencies and new developments 3. Stablecoins: the search for stability 4. Initial coin offerings: the “Wild West” 5. The regulatory response to ICOs 6. Global stablecoins: Libra 7. Reactions to stablecoins 8. Central banks and central bank digital currencies 9. The decline of cash 10. Credit and trust 11. Epilogue: the crypto winter Appendix: smart contracts

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Book SynopsisTurbulence in crypto markets has left investors and potential investors terrified about the future of digital assets and decentralised finance. Valuations have collapsed, exchanges have bankrupted, and billions of dollars have been washed away. But is it really a crisis? Or is the immense promise and potential of this dynamic new asset class stronger than it's ever been? This isn't the first crypto boom and bust (likely not the last), and with every cycle exciting, emerging innovative opportunities rise to the surface and provide untapped potential for the informed investor. Investment and crypto expert Sam Volkering delves into the turmoil and unlocks the realities and potential of the still-emerging crypto opportunity. The Crypto Handbook is a must-have guide to the fundamentals of crypto and digital assets, covering topics such as exchanges, blockchain, NFTs, Web3, the metaverse and much more. Learn how to construct a robust crypto portfolio, how to secure and protect your crypto assets, how to put your crypto to work using decentralised finance, and how to spot and avoid threats and scams. This indispensable book reveals the latest thinking on the present and future of crypto, from some of the sector's leaders and innovators. Featuring interviews with: Luc Froehlich and Ben Brophy, Fidelity James Putra, TradeStation Dr. Jemma Green, Powerledger Hector McNeil, HANetf Lawrence Wintermeyer, GBBC Digital Finance By demystifying the complexities and confusion rife in the mainstream, The Crypto Handbook is a must-read for crypto newcomers and experienced investors alike. Readers will improve their ability to answer questions such as: What separates Bitcoin from the other 'altcoins' on the market? Can and should we trust crypto exchanges? What role do stablecoins play in the future of global finance? Is there any substance to the metaverse? What is blockchain, and how does it work? Are NFTs dead, or is another NFT boom around the corner? Is Web3 the future of the internet? And much more. Learn to master the crypto markets now with The Crypto Handbook.

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Book SynopsisCentral Bank Digital Currencies and Global Financial System: Theory and Practice is the perfect book for anyone interested in the impact of digital currencies on the global financial system, providing valuable insights and analysis on the topic. The topic of central bank digital currencies (CBDCs) is particularly relevant in 2023 because the use of digital currencies is rapidly growing around the world, and many central banks are exploring the idea of developing their own CBDCs. This book offers readers an opportunity to gain a better understanding of CBDCs, including their history, differences with cryptocurrencies, and the potential impact of CBDCs on the future of the financial system. The book’s didactic approach breaks down complex topics into easily digestible chapters, allowing readers to easily understand and follow the progression of digital currencies. For those interested in the future of digital currencies, the book offers a chapter on future research directions and concluding remarks. Central Bank Digital Currencies and Global Financial System: Theory and Practice is a must-read for anyone interested in the intersection of finance and technology. By exploring the evolution of digital currencies and their impact on the global financial system, this book provides valuable insights for policymakers, financial professionals, and anyone looking to understand the future of money.

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