Since the launch of Bitcoin in 2009 several hundred different ‘cryptocurrencies’ have been developed and become accepted for a wide variety of transactions in leading online commercial marketplaces and the ‘sharing economy’, as well as by more traditional retailers, manufacturers, and even by charities and political parties. Bitcoin and its competitors have also garnered attention for their wildly fluctuating values as well as implication in international money laundering, Ponzi schemes and online trade in illicit goods and services across borders. These and other controversies surrounding cryptocurrencies have induced varying governance responses by central banks, government ministries, international organizations, and industry regulators worldwide. Besides formal attempts to ban Bitcoin, there have been multifaceted efforts to incorporate elements of blockchains, the peer-to-peer technology underlying cryptocurrencies, in the wider exchange, recording, and broadcasting of digital transactions. Blockchains are being mobilized to support and extend an array of governance activities. The novelty and breadth of growing blockchain-based activities have fuelled both utopian promises and dystopian fears regarding applications of the emergent technology to Bitcoin and beyond. This volume brings scholars of anthropology, economics, Science and Technology Studies, and sociology together with GPE scholars in assessing the actual implications posed by Bitcoin and blockchains for contemporary global governance. Its interdisciplinary contributions provide academics, policymakers, industry practitioners and the general public with more nuanced understandings of technological change in the changing character of governance within and across the borders of nation-states.

After over a decade of Bitcoin, which has now moved beyond lore and hype into an increasingly robust star in the firmament of global assets, a new and more important question has arisen. What happens beyond Bitcoin? The answer is decentralised finance - 'DeFi'. Tech and finance experts Steven Boykey Sidley and Simon Dingle argue that DeFi - which enables all manner of financial transactions to take place directly, person to person, without the involvement of financial institutions - will redesign the cogs and wheels in the engines of trust, and make the remarkable rise of Bitcoin look quaint by comparison. It will disrupt and displace fine and respectable companies, if not entire industries. Sidley and Dingle explain how DeFi works, introduce the organisations and individuals that comprise the new industry, and identify the likely winners and losers in the coming revolution.

In January 2009, a mysterious software developer, Satoshi Nakamoto, exchanged a specially designed code with another developer. The code was a digital currency that Nakamoto had proposed several months before in a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This was the first Bitcoin transaction. Since then, Bitcoin has become the face of a tech revolution in digital cryptocurrencies based on blockchain technology. Its success has sparked a tech revolution that could fundamentally change global economics. Author Brendan January delves into the world of coders, libertarians, criminals, financial regulators, and crypto-detectives to understand what digital cryptocurrencies have to offer, their limitations and potential pitfalls, security issues, and how they may affect government and financial regulations in the future.

Over the last few years, we have witnessed an upsurge of enthusiasm about cryptocurrencies and, more generally, the so-called blockchain technology. In this new and updated edition, the authors explore what exactly these new technologies entail and promise. They argue that to understand the potential challenges and further developments in the market, one needs to develop an understanding of what needs these innovations fulfill and what business models are consistent with their use. For that, we need to sufficiently understand both the technology and how it affects the economic forces at play. This book goes beyond the headlines that say “blockchain will decentralize everything” and provides in-depth, rigorous analysis of what can be effectively decentralized and how this decentralization will work. The book draws not only on the general knowledge of digital currencies and blockchain technologies, but also on recent academic research on the topic. Featuring a fully updated chapter on cryptocurrencies and new chapters on smart contracts and enterprise blockchains, this book is critical reading for those interested in how technology developments impact business and society.

The cryptocurrency trend of the past few years has continued to grow despite widespread predictions that it would just be a flash in the pan. Blockchain is suddenly everyone's favorite buzzword. But what if there's more to this story than meets the eye? What if Digital Currency is about to change the world in ways beyond our imagination? And what if geopolitical forces our politicians don't even understand have already inspired China and Russia to use Digital Currency to attack the U.S. Dollar's dominance over the global financial system?The Dollar has served as the world's reserve currency since 1944, and the fringe benefits have allowed the U.S. Government to borrow and spend beyond its means and run massive trade deficits for decades. Now China and Russia suddenly have a new lever to use which could upset the global balance of power. Who would have guessed that technology breakthroughs conceived by the inventors of cryptocurrency would hand China and Russia just the weapon they needed to attack the Dollar's rule over the global economy? 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. But a digital currency system introduced by China and Russia could upstage the Dollar and replace it as global reserve currency, causing devastating consequences for the U.S. economy. Which country wins the new digital currency Space Race could change the course of human history.There's plenty of evidence that China and Russia are already hard at work. The Chinese central bank is aggressively hiring Blockchain engineers, but has been suspiciously quiet about what they're working on. Sergei Glaziev, economic advisor to Russian President Vladimir Putin is giving keynote speeches to Blockchain conferences. The Chinese central bank filed more digital currency patents than anyone else in 2017. This book explains why China and Russia are suddenly so interested in Digital Currency technology, and more importantly, what they plan to do with it. Time is short for the U.S. Government to wake up and recognize the threat that now looms over the U.S. Dollar's dominance at the center of the global financial system, and why Digital Currency technology is likely to be the challengers' weapon of choice to defeat the Dollar.Author Erik Townsend is uniquely qualified to sort this puzzle out and tell the entire fascinating story. In his first career, Townsend was a distributed systems architect - an expert in all the technologies used to create cryptocurrencies. In his second career, he was a hedge fund manager who studied reserve currency status extensively. Townsend first gives readers an introduction to both conventional money and digital currency, then gives a detailed introduction to relevant monetary history subjects, and finally 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.

What can we learn from Bitcoin and Burning Man about re-inventing money and designing better forms of self-governance? Why are “decentralized autonomous organizations” the next great Internet disruption? From Bitcoin to Burning Man and Beyond: The Quest for Autonomy and Identity in a Digital Society explores a new generation of digital technologies that are re-imagining the very foundations of identity, governance, trust and social organization. The fifteen essays of this book stake out the foundations of a new future – a future of open Web standards and data commons, a society of decentralized autonomous organizations, a world of trustworthy digital currencies and self-organized and expressive communities like Burning Man. Among the contributors are Alex “Sandy” Pentland of the M.I.T. Human Dynamics Laboratory, former FCC Chairman Reed E. Hundt, long-time IBM strategist Irving Wladawksy-Berger, monetary system expert Bernard Lietaer, Silicon Valley entrepreneur Peter Hirshberg, journalist Jonathan Ledgard and H-Farm cofounder Maurizio Rossi. From Bitcoin to Burning Man and Beyond was edited by Dr. John H. Clippinger, cofounder and executive director of ID3, [http://www.idcubed.org] and David Bollier, [http://www.bollier.org] an Editor at ID3 who is also an author, blogger and scholar who studies the commons. The book, published by ID3 in association with Off the Common Books, reflects ID3’s vision of the huge, untapped potential for self-organized, distributed governance on open platforms. One chapter that inspires the book’s title traces the 28-year history of Burning Man, the week-long encampment in the Nevada desert that have hosted remarkable experimentation in new forms of self-governance by large communities. Other chapters explore such cutting-edge concepts as: • evolvable digital contracts that could supplant conventional legal agreements; • smartphone currencies that could help Africans meet their economic needs more effective; • the growth of the commodity-backed Ven currency; and • new types of “solar currencies” that borrow techniques from Bitcoin to enable more efficient, cost-effective solar generation and sharing by homeowners. From Bitcoin to Burning Man and Beyond also introduces the path-breaking software platform that ID3 has developed called “Open Mustard Seed,” or OMS. https://idcubed.org/open-platform/platform The just-released open source program enables the rise of new types of trusted, self-healing digital institutions on open networks, which in turn will make possible new sorts of privacy-friendly social ecosystems. (YouTube video on OMS.) https://www.youtube.com/watch?v=tMCzibfVo3M “OMS is an integrated, open source package of programs that lets people collect and share personal information in secure, and transparent and accountable ways, enabling authentic, trusted social and economic relationships to flourish,” said Dr. Clippinger. Introduction 1. Alex Pentland Social Computing and Big Data 2. John H. Clippinger Why Self-Sovereignty Matters 3. David Bollier & John H. Clippinger The Next Great Internet Disruption 4. Maurizio Rossi The New Mestieri Culture of Artisans 5. Peter Hirshberg Burning Man 6. Irving Wladawsky-Berger The Internet of Money 7. Bernard Lietaer Why Complementary Currencies Are Necessary to Financial Stability 8. Stan Stalnaker Ven and the Nature of Money 9. Reed E. Hundt, Jeffrey Schub & Joseph R. Schottenfeld Green Coins 10. Jonathan Ledgard Africa, Digital Identity and the Beginning of the End for Coins 11. Mihaela Ulieru The Logic of Holonic Systems 12. Jeremy Pitt & Ada Diaconescu The Algorithmic Governance of Common-Pool Resources 13. Thomas Hardjono, Patrick Deegan & John H. Clippinger The ID3 Open Mustard Seed Platform 14. Patrick Deegan The Relational Matrix: 15. Harry Halpin The Necessity of Standards for the Open Society

The worlds of finance and technology have been rocked by Bitcoin and other cryptocurrencies: encrypted digital currency created by complex computer algorithms. First developed in 2009 and launching several speculative frenzies, cryptocurrencies have created and destroyed fortunes over their turbulent history. Across years of New York Times articles, readers will discover the unfolding story of a technology that, while rarely performing as promised, has produced profound effects that cannot be ignored.