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Before babylon, beyond bitcoin from money that we understand to money that understands us

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Before babylon, beyond bitcoin from money that we understand to money that understands us

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

Before babylon, beyond bitcoin from money that we understand to money that understands usndon Publishing Partnershipwww.londonpublishingpartnership.co.ukPublished in association with Enlightenment Economicswww.enlightenmenteconomics.comAll

Rights ReservedISBN: 978-1-907994-67-8 (epub)A catalogue record for this book is available from the British LibraryTills book has been composed in Ca Before babylon, beyond bitcoin from money that we understand to money that understands us

ndaraCopy-edited and typeset by T&T Productions Ltd. Londonwww.tandtproductions.coniCover image by Austin Houldsworth: www.austinhouldsworth.co.ukAuth

Before babylon, beyond bitcoin from money that we understand to money that understands us

or photograph by Ewan Mackenzie: www.ewanniackenzie.co.ukCover design by Janies Shannon: www.jshannon.comhttps://khothu vien .comIllis book is dedicat

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

Before babylon, beyond bitcoin from money that we understand to money that understands usave discovered the worlds of digital identity’ and digital money that obsess me today!Everything. then, must be assessed in money: for this enables me

n always to exchange their services, and so makes society possible.— Aristotle (384-322 BCE) in Nicomochean Ethics, Book V. Chapter 5Foreword by Andre Before babylon, beyond bitcoin from money that we understand to money that understands us

w HaldaneOFTEN, THE MOST interesting issues in economics arise from the intersection - sometimes the collision - between technology and society. To ta

Before babylon, beyond bitcoin from money that we understand to money that understands us

ke an example, there is no more topical, and vexed, an economic issue right now than the impact of new technologies (such as robots, artificial intell

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

Before babylon, beyond bitcoin from money that we understand to money that understands useen technology and work has existed for many millennia.Money is another issue that, through the ages, has illustrated vividly this complex tango betwe

en societies and technologies. Money is a technology -indeed, a key one for discharging obligations between people, for keeping score in the economy, Before babylon, beyond bitcoin from money that we understand to money that understands us

for facilitating trade, finance and commerce. But money is also a social good - indeed, a key one as an emblem of civic identity, as a measure of soci

Before babylon, beyond bitcoin from money that we understand to money that understands us

etal trust and order.Technology and society' have, in the main, operated in harmony when it comes to monetary issues. As money technologies have impro

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

Before babylon, beyond bitcoin from money that we understand to money that understands ushe most transformative shifts in monetary technologies was from commodity to fiat monies. This not only freed up resources for more productive uses bu

t over time enhanced the attractiveness of money.But new monetary technologies have not always been trust boosting, certainly not immediately. Indeed, Before babylon, beyond bitcoin from money that we understand to money that understands us

in the hands of the wrong government or private entrepreneur, some money technologies have been trust busting. Some of the relative tranquillity in f

Before babylon, beyond bitcoin from money that we understand to money that understands us

iat monies over recent centuries can probably be put down to the stabilizing role of central banks.Now a new technological wave may be about to break

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

Before babylon, beyond bitcoin from money that we understand to money that understands usructures tliat engender trust in money are distributed rather than centralized, where central banks' role is changed fundamentally or even circumvente

d.Tills issue is shaping up to be every bit as vexed as those of robots and jobs. Passions around cashless societies run high. If nothing else, this t Before babylon, beyond bitcoin from money that we understand to money that understands us

ells us that money is, always has been and always will be much more than a cryptographiccode; it is a social convention. Old conventions tend to chang

Before babylon, beyond bitcoin from money that we understand to money that understands us

e slowly. And it is society, rather than technology, that tends to choose the destination.Tills book by David Birch brings out in rich and lucid detai

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

Before babylon, beyond bitcoin from money that we understand to money that understands usetches the possible contours of íùture monetary paths, given the possibility ol trans formative technological change.Historical scholars, technologist

s, monetary economists and policy makers will all find something in here to hold their attention, to reshape their view ol history or technology, fina Before babylon, beyond bitcoin from money that we understand to money that understands us

nce or policy. They may or may not agree on what the next chapter in the history of money holds. But this book provides a well-researched and engaging

Before babylon, beyond bitcoin from money that we understand to money that understands us

account of the story so far, of money in retrospect and money in prospect.Andrew HaldaneChief Economist and Executive Director for Monetary Analysis,

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

BEFORE BABYLON, BEYOND BITCOINFrom Money That We Understand To Money That Understands UsDAVID BIRCHCopyright Cộ 2017 David G. w. BirchPublished by Lon

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