Bitcoin, Blockchain & “Fintech” Expert, Co-Author of The Age of Cryptocurrency
“To their ample credit, Paul Vigna and Michael J. Casey, veteran Wall Street Journal reporters, resist the common temptations to hype their trendy subject. They've written a reported explainer that patiently documents bitcoin's rise, acknowledges its flaws and highlights its promise. Smart and conscientious, The Age of Cryptocurrency is the most thorough and readable account of the short life of this controversial currency.”â€•The Washington Post
When coupled with mobile money apps, Big Data-driven banking services, decentralized e-marketplaces, and countless financial technology (“fintech”) innovations aimed at breaking big banks’ dominance, the blockchain’s core concept of a distributed ledger of information could reinvent the economy as we know it. In such a system, where risk is parceled out across thousands of computers rather than dangerously centralized in the databases of New York banks, trillions of dollars in middleman fees could be saved, billions of “unbanked” could be included into the global economy, and money could move as freely around the world as information now does. The potential savings from this disruptive technology are so big that the World Economic Forum predicts that as much as 10 percent of world GDP will be transacted over it by 2025.
With clarity and objectivity, Casey demystifies cryptocurrency: its origins, its function, and how it impacts everything from government to business to academia. An expert on financial innovation, on global capital markets and economics, and a student of what “money” and “value” really mean, Casey conceives of a new digital society in which software and algorithms will replace our outdated, analog legal systems to bring transparency, objectivity and integrity to the new, knowledge-sharing society that is forming around us.
The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic OrderÂ
Bitcoin became a buzzword overnight. It pops up in headlines and fuels endless media debate. Yet it seems few people truly understand what it is. In this talk, Michael Casey delivers the definitive answer to the question: Why should anyone care about bitcoin? The “blockchain” technology behind cryptocurrencies holds the promise of a financial system without middlemen—a change that’s 500 years in the making. It puts that system in the control of the people who use it and safeguards them from a 2008-type crash. Much more than a new digital form of currency, this technology could integrate billions of hitherto excluded people into the global economy, restore individuals’ control over their private data and identities, and change the way organizations and business relationships are governed. At the corporate, academic, and government levels, well-informed managers and officials are starting to realize that there all sorts of disruptive applications for this technology, with big implications for the broader economy. With lucidity and verve, Casey makes this unfamiliar but important topic accessible, and teaches us what we need to know to be ready for this big shift.
The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
Bitcoin became a buzzword overnight. A cyber-enigma with an enthusiastic following, it pops up in headlines and fuels endless media debate. You can apparently use it to buy anything from coffee to cars, yet few people seem to truly understand what it is. This raises the question: Why should anyone care about bitcoin?
In The Age of Cryptocurrency, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency holds the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.
But bitcoin, the most famous of the cybermonies, carries a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation state. It implies, above all, monumental and wide-reaching change-for better and for worse. But it is here to stay, and you ignore it at your peril.
Vigna and Casey demystify cryptocurrency-its origins, its function, and what you need to know to navigate a cyber-economy. The digital currency world will look very different from the paper currency world; The Age of Cryptocurrency will teach you how to be ready.
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