{"product_id":"money-without-boundaries-isbn-9781119564065","title":"Money Without Boundaries","description":"\u003cp\u003e\u003cb\u003eDiscover how blockchain will facilitate a new currency that will transcend space and time\u003c\/b\u003e\u003cb\u003e \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLargely inspired by \u003ci\u003eThe Denationalization of Money\u003c\/i\u003e by Fredrich Hayek, \u003ci\u003eMoney Without Boundaries’\u003c\/i\u003e 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. \u003c\/p\u003e \u003cp\u003eCompared 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.\" \u003ci\u003eMoney Without Boundaries\u003c\/i\u003e 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. \u003c\/p\u003e \u003cp\u003e\u003ci\u003eMoney without Boundaries:\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e• Demonstrates how blockchain technology allows full transparency\u003c\/p\u003e \u003cp\u003e• Explains how blockchain makes it possible for money to be fully commoditized\u003c\/p\u003e \u003cp\u003e• Explains how this fully market-based, decentralized, self-regulating system has vast implications throughout the global financial system\u003c\/p\u003e \u003cp\u003e• Shows how everyone will benefit when they have the opportunity to compete on “full faith in credit”\u003c\/p\u003e \u003cp\u003eIf you are interested in cryptocurrency, money, monetary theory, or understanding how the applied uses of blockchain technology will change your everyday life, this is essential reading.\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xxi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat is Money? 2\u003c\/p\u003e \u003cp\u003eMoney as a Store of Value 5\u003c\/p\u003e \u003cp\u003eDemise of the Gold Standard 6\u003c\/p\u003e \u003cp\u003ePlanting the Seed for the Denationalization of Money 9\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One: The Foundation 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Money Through Time – A Different Perspective 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e“The Holy Gift of Free Gold” 17\u003c\/p\u003e \u003cp\u003eNational Debt, National Blessing? 18\u003c\/p\u003e \u003cp\u003eFollowing the Yellow Brick Road 21\u003c\/p\u003e \u003cp\u003e“Breaking of the Gold Fetters” 24\u003c\/p\u003e \u003cp\u003e“Let Me Lay to Rest the Bugaboo…” 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: The Fundamentals of Money 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNarrow Money versus Broad Money 33\u003c\/p\u003e \u003cp\u003eThe Theory of Money and Credit 35\u003c\/p\u003e \u003cp\u003eFull Faith and Credit: Money is the Government’s Debt 37\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Banking – An Overview 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA System That Multiplies Money 43\u003c\/p\u003e \u003cp\u003eMoney is Credit, and Credit is Money 45\u003c\/p\u003e \u003cp\u003e“Not for Profit, Not for Charity, but for Service” 45\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: The Denationalization of Money 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIrving Fisher: Abolish Fractional Reserve Banking 48\u003c\/p\u003e \u003cp\u003eMilton Friedman and Setting the Nominal Interest Rate to Zero 50\u003c\/p\u003e \u003cp\u003eFriedrich Hayek: Denationalize Money 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: The Rise of Cryptocurrency 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCoins and Tokens 57\u003c\/p\u003e \u003cp\u003eIs it a Security or a Utility? The Howey Test 60\u003c\/p\u003e \u003cp\u003eStablecoin: Establishing Trust and Stability 62\u003c\/p\u003e \u003cp\u003eHow Should We Value Coins and Tokens? 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: The Role Model 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEverything the Banking System is Not 71\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two: The Four Pillars – Our Building Blocks 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Pillar 1 – Modern Portfolio Theory and the Risk-Free Asset 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEvolving Modern Portfolio Theory and the Risk-Free Asset 83\u003c\/p\u003e \u003cp\u003eSummary of Pillar 1 84\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Pillar 2 – The Credit Theory of Money 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCreating Money Under the Credit Theory of Money 88\u003c\/p\u003e \u003cp\u003eCreating a Medium of Exchange 91\u003c\/p\u003e \u003cp\u003eSummary of Pillar 2 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Pillar 3 – Solving the Trust Gap \u003c\/b\u003e= \u003cb\u003eBlockchain 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt All Started with the Cloud 98\u003c\/p\u003e \u003cp\u003eWhat, Exactly, is Blockchain? 100\u003c\/p\u003e \u003cp\u003eWhy Should We Care? 103\u003c\/p\u003e \u003cp\u003eHow Does Blockchain Work? 103\u003c\/p\u003e \u003cp\u003eWhy Would Anybody Do This? 106\u003c\/p\u003e \u003cp\u003eWho Maintains the Network? 107\u003c\/p\u003e \u003cp\u003eBlockchain Components and Ecosystem 108\u003c\/p\u003e \u003cp\u003eProtocol Tokens and App Coins\/Tokens: Working Together 112\u003c\/p\u003e \u003cp\u003eThe Other Layers 114\u003c\/p\u003e \u003cp\u003eSummary of Pillar 3 115\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Pillar 4 – Capital Markets as a “Technology” 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat are Capital Markets? 118\u003c\/p\u003e \u003cp\u003eWhat are Money Market Accounts? 119\u003c\/p\u003e \u003cp\u003eWhat’s in a Money Market Fund? 121\u003c\/p\u003e \u003cp\u003eHow Efficient is the Repurchase Market? 123\u003c\/p\u003e \u003cp\u003eHow Does This Relate to Our Third Pillar, Blockchain? 124\u003c\/p\u003e \u003cp\u003eWhat is Securitization, and Why the Prejudice Against It? 125\u003c\/p\u003e \u003cp\u003eHow Securitization Works 126\u003c\/p\u003e \u003cp\u003eHow Subordination Works 128\u003c\/p\u003e \u003cp\u003eSlicing and Dicing Our Way to Risk-Free 129\u003c\/p\u003e \u003cp\u003eSummary of Pillar 4 130\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three: The Concept 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Transcending Space and Time 135\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrom \u003ci\u003eStar Trek \u003c\/i\u003eto the Death Star 136\u003c\/p\u003e \u003cp\u003e“Copper, Beads, and Such Like Trash” as Money 138\u003c\/p\u003e \u003cp\u003eA Store of Value that Transcends Space and Time 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Bringing the Building Blocks Together 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Known Store of Value: The Blockchain Revolution 143\u003c\/p\u003e \u003cp\u003eA Different Objective: Zero Risk 144\u003c\/p\u003e \u003cp\u003eWeight, Mass, and the “Risk-Free Rate” 144\u003c\/p\u003e \u003cp\u003eThe Kilogram and the Specimen 145\u003c\/p\u003e \u003cp\u003eAn Elastic Definition of the Specimen 149\u003c\/p\u003e \u003cp\u003eA Sample Specimen 151\u003c\/p\u003e \u003cp\u003eConvergence Checklist 154\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: A Neural Network Begins 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Perspective on a Decentralized Market in Money 156\u003c\/p\u003e \u003cp\u003eThe Other Sides of Zero 159\u003c\/p\u003e \u003cp\u003eThe Paradigm Begins to Shift 160\u003c\/p\u003e \u003cp\u003eThe Paradigm Shifts: One Loan 162\u003c\/p\u003e \u003cp\u003eThe Neural Network is Born 164\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Conclusion 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSecuritizing Individuals at an Individual Level with Blockchain 170\u003c\/p\u003e \u003cp\u003eWelcome to a Whole New World, Mr. Keynes 172\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix A: The Future of Money – A Credit-Based Society 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStructural Superiority 177\u003c\/p\u003e \u003cp\u003eIllustration 178\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix B: A House of Cards 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Debt-Fueled Illusion 181\u003c\/p\u003e \u003cp\u003eOur Perspective Must Shift 182\u003c\/p\u003e \u003cp\u003eGlossary 185\u003c\/p\u003e \u003cp\u003eResource Guide 191\u003c\/p\u003e \u003cp\u003eBibliography 207\u003c\/p\u003e \u003cp\u003eAbout the Author 221\u003c\/p\u003e \u003cp\u003eEndnotes 223\u003c\/p\u003e \u003cp\u003eIndex 241\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eTHOMAS J. ANDERSON\u003c\/b\u003e is the founder and chairman of both Anasova and Supernova Lending. Before he founded Supernova, Tom worked in investment banking and wealth management for Wells Fargo, Deutsche Bank, Merrill Lynch, and Morgan Stanley, where he served as executive director of Morgan Stanley Wealth Management. He is a \u003ci\u003eNew York Times\u003c\/i\u003e bestselling author and acclaimed financial planning expert. Tom's books have been featured in numerous media outlets around the world.   \u003c\/p\u003e\u003cp\u003eTraditionally, money has been a safe and reliable store of value. For thousands of years, society focused on money of limited supply, such as bartering and commodity money???—???primarily a gold standard. We then moved to \"full faith and credit\" currencies, or an unlimited money supply backed by government's ability to repay it with future taxation. The value derived or perceived from these currencies is primarily tied to beliefs related to the underlying economic value of the currency issuer.  \u003c\/p\u003e\u003cp\u003eMoney is much more than the physical cash you have in your wallet. Large transactions, including those of large financial institutions, are mostly cashless. Credit cards are used to make the majority of purchases in the developed world. The preference for cashless transactions is already here; virtual and mobile payments allow people to make monetary transactions quickly, easily, and securely. We have the technology, but we lack a standardized, universal store of value. Something that doesn't yet exist: \u003ci\u003ea market-based, risk-free, self-stabilizing global currency.\u003c\/i\u003e  \u003c\/p\u003e\u003cp\u003eWhen you think about cryptocurrency, you most likely think of bitcoin. Blockchain, the revolutionary technology behind bitcoin that digitally secures the ownership of an item and its full history, has been used to create a \u003ci\u003efinite\u003c\/i\u003e number of bitcoin, but it can also create an \u003ci\u003einfinite\u003c\/i\u003e number of items of limited supply. Once we're able to create an infinite number of items with limited supply, then limited supply by itself is no longer valuable. Similarly, an unlimited supply of items with economic value is also worthless in the long run. The goal for society is to have both limited supply and economic value, and this is the objective of \u003ci\u003eMoney Without Boundaries\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eMoney Without Boundaries\u003c\/i\u003e is about the creation of a new global currency facilitated by blockchain technology. Unlike traditional currencies, such as the dollar, yen, or euro, this currency strives to be a risk-free store of value. And unlike bitcoin, which tethers to a finite number of units, this store of value tethers to zero risk. As a result, it is constrained not by an arbitrary number of units, but by market forces of supply and demand. A privately controlled, market-based currency is not a new concept. But only now do we possess the technology to use theories from some of the greatest economic thinkers in history???—???Plato, Adam Smith, Irving Fisher, Milton Freidman, and Fredrich Hayek, among others???—???to transform the we way we think about and use money. This book is a bridge connecting old ideas to new technologies.  \u003c\/p\u003e\u003cp\u003eMoney can be fully commoditized in a decentralized, self-regulating, not-for profit, free-market system. Blockchain will give everyone a decentralized, safe, anonymous, and secure store of value???—???and revolutionize the global financial system in the process.\t   \u003c\/p\u003e\u003cp\u003e\u003cb\u003e\u003csmall\u003eDISCOVER HOW BLOCKCHAIN TECHNOLOGY WILL ESTABLISH A NEW GLOBAL CURRENCY THAT TRANSCENDS SPACE AND TIME\u003c\/small\u003e\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003eWe typically categorize \"money\" into earnings, such as income from a job, and as a store of value, like cash in the bank, to use for purchasing goods and services. \u003ci\u003eMoney Without Boundaries\u003c\/i\u003e separates income and store of value to create a decentralized perfect store of value, the risk-free asset. \u003c\/p\u003e\u003cp\u003eBlockchain technology digitally secures the ownership and full history of an item, making it far more transparent and straightforward than other currencies. This revolutionary technology enables money to be fully commoditized in a market-based, decentralized, and self-regulating system. Blockchain levels the playing field—everyone can make secure, anonymous financial transactions without any gaps in trust. Large central banks and governments are not necessary to monitor and assess the \"full faith and credit\" of blockchain-managed money markets, to the great benefit of the average person.  \u003c\/p\u003e\u003cp\u003e\u003ci\u003eMoney Without Boundaries\u003c\/i\u003e is a must-have resource for anyone interested in understanding how cryptocurrency and the applied uses of blockchain technology will change the financial system and enhance the lives of billions of people around the world. Author Thomas Anderson explains how blockchain will create a new currency guided by the market forces of supply and demand, transforming the process of buying, borrowing, and lending forever. From the history of money and the rise of cryptocurrency to how decentralized money markets compare to all other alternatives, this straightforward, reader-friendly book provides the information you need to connect old ideas of money to the new reality of blockchain technology.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989652095205,"sku":"NP9781119564065","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119564065.jpg?v=1761784966","url":"https:\/\/k12savings.com\/products\/money-without-boundaries-isbn-9781119564065","provider":"K12savings","version":"1.0","type":"link"}