Money Without Boundaries: How Blockchain will Facilitate the Denationalization of Money, 2019, reviewed

By @SimonCocking review of  Money Without Boundaries: How Blockchain will Facilitate the Denationalization of Money available from Wiley here. See more reviews here.

Discover how blockchain will facilitate a new currency that will transcend space and time 

Largely inspired by The Denationalization of Money by Fredrich Hayek, Money Without Boundaries’ ideological foundation is also inspired by economists and thought leaders like Milton Friedman and Irving Fisher, advancements in capital markets over the past 50 years, and the convergence of old and new technologies. Author Thomas J. Anderson explains how blockchain acts as the filter and the glue, making it all possible.

Compared with other currencies, blockchain-managed money markets are more straightforward and transparent. It is easier to monitor, understand, and assess the quality of their “full-faith and credit.” Money Without Boundaries shows how not only money, but also the process of borrowing and lending, will evolve to be conducted in a 100% trusted, secure, transparent, open architecture environment. Anderson begins with a history of money and discusses the rise of cryptocurrency, concluding with a comparison of decentralized money markets to all other alternatives.

Review of Money Without Boundaries: How Blockchain will Facilitate the Denationalization of Money,

This is a timely book, and one of a number that have come onto the market recently, seeking to explain what the future might hold for us. Star Trek and the 24th century still appears an important reference point with Piccard’s laughing explanation that we no longer have money. You can see why it would make sense not to have to be fumbling for 1 credit coins when going to the local intergalactic hypermarket for your shopping trolley. However as we are also moving towards a time where the rich pay little to no tax and wealth aggregates towards fewer and fewer people we may not be looking at the end of ‘money’ yet.

At the same time we are rapidly and eagerly embracing cashless transactions in all aspects of our daily lives. Thomas Anderson has wisely identified this behavioural trend and desire in his analysis of how blockchain may impact on this process. He does a serviceable job of looking at current trends, and the implications of where they may lead us too. One constraint on any book though is when you are writing your final conclusion by page 173, as this doesn’t leave you a lot of road in order to get your points across.

Then again if you are looking for a quick primer, on a plane flight across Europe somewhere for example, then this is not a bad book for a quick read to at least dip your toe into these matters.

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