Beyond Blockchain
The invention of digital cash enables government-issued digital currency systems that could completely modernize the global monetary system. The potential benefits to society are so great that it’s hard to grasp their full magnitude. Beyond Blockchain gives readers an introduction to both conventional money and digital currency, then gives a detailed introduction to relevant monetary history subjects. Finally, this book ties it all together and explains how a state-sponsored digital currency system could steal the title of global reserve currency from the U.S. Dollar and change the balance of world power.
According to Erik Townsend, the country who wins the new digital currency Space Race could change the course of human history.
The first part of the book lays out what money is and its characteristics. Cryptocurrencies are claimed to have the same characteristics as fiat money and Erik spends time diving into how they could act as a medium of exchange, unit of account and store of value.
The next section of the book explores what specifically it means for the dollar to be a global reserve currency.
The main argument of the book is a central bank digital currency will not be enough to break the hold of the dollar, a robust digital bond market must also be created to provide for global reserves.