The Blockchain Alternative examines what would happen if we were to deploy the blockchain technology at the sovereign level and use it to create a decentralized cashless economy. This book highlights the flaws of the current financial and economic system and shows how the convergence of various technologies related to the financial sector can help us find solutions to growing debt levels, banks getting too big to fail, and shadow banking.
The book also shows what are the fallacies of the current ruling doctrines that are the basis for economic policy, and offers sensible corrections to these outdated and incorrect dogmas. The reader is shown how our current economic paradigm is out of kilter with the changing digital reality of markets and societies and how the Blockchain, in conjunction with other emerging financial technologies, can be used to create a new and more transparent framework.
The Blockchain Alternative shows how we need to move from thinking about the economic system as a state of equilibrium, to one that is in a constant state of entropy. By amalgaming models from complexity economics and evolutionary behaviour with the operational capabilities of the Blockchain, the author presents a new framework for witnessing capitalism, that is more suited to the digital era.
Based on a rich review of economic history and a detailed analysis of the technologies that are changing the face of finance, the book challenges the current line of thinking with regards to monetary and fiscal policy, market structure and economic theory. More importantly it asks us to rethink our current understanding of capitalism and what new definition are we to construct for an increasingly fragmented, decentralized and distributed network economy. In doing so it offers a possible memory of the future, and attempts to answer some of the most pertinent issues of our generation.