02827cam a2200301 i 4500 513960593 TxAuBib 20211116120000.0 210302s2021||||||||||||||||||||||||eng|u 2021008025 9780674258440 HRD 35.00 0674258444 HRD 35.00 TxAuBib rda Prasad, Eswar. The future of money [BOOK] : how the digital revolution is transforming currencies and finance / Eswar S. Prasad. Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2021. 485 pages : illustrations ; 25 cm. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index. Part I. Setting the stage: Racing to the future -- Money and finance: the basics -- Part II. InnovatIons: Will Fintech save the world? Or at least make it better? -- Bitcoin sets off a revolution, then falters -- Crypto mania -- Part III. Central bank money: The case for central bank digital currencies -- Getting CBDCs off the ground -- Part IV. Implications, challenges: Consequences for the international monetary system -- Central banks run the gauntlet -- A glorious future beckons, perhaps. We think we’ve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force won’t be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. Provided by publisher. 20211116. Digital currency. Banks and banking, Central. International finance.