
The Future of Money
How the Digital Revolution Is Transforming Currencies and Finance
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Narrated by:
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Stephen R. Thorne
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By:
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Eswar S. Prasad
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. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
©2021 The President and Fellows of Harvard College (P)2021 TantorListeners also enjoyed...




















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Excellent book
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good textbook on digital currency
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Great Content
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Great survey, thoughtful and accessible
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Good content. Dense for an audio book. Get print or Kindle
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For anybody in tune with the space there is distinctive bias, however. For example, in discussions around stable coins he continuously talks about Diem as a promising stable coin and yet Diem is like...dead? They sold all assets to another company. A fair counterpoint would be that the crypto space moves so quickly that a book is bound to make mistakes, but even at time of publication the top two stable coins by market cap were USDT (which is mentioned) and USDC which may or may not be mentioned (can't remember). I don't think DAI ever gets a mention. But Diem? It gets serious page and word presence.
A lot happened since publication and I would have liked to see how these things influenced the author's arguments. El Salvador adoption of BTC as legal tender happened after publication, as did China actually banning bitcoin mining and the hash rate migration. There is absolutely no mention of Lightning and other layer 2 projects as solutions to existing challenges in Bitcoin.
So, bias is there, but insofar as CBDCs are concerned I don't know of a better resource to pick up.
Solid information but definitely biased
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One who reads Prasad’s book is likely to conclude America will eventually create a digital currency. FTX shows digital currency cannot regulate itself without oversight. Whether America will remain the big dog in currency influence depends on an unknown future. No government’s digital currency has been successful as of this date.
FINANCIAL TRUST
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Big Brother can be Benevolent
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From an earlier time
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