Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies

by Nik Bhatia


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In this fascinating deep dive into the evolution of monetary systems around the globe, Nik Bhatia takes us into the origins of how money has evolved to function in a "layered" manner. Using gold as an example of this term, he traces the layers of this ancient currency from raw mined material, to gold coins, and finally to bank-issued gold certificates. In a groundbreaking manner, Bhatia offers a similar paradigm for the evolution of digital currencies. Bhatia's analysis begins in Renaissance Florence with the gold Florin coin and a burgeoning banking culture, continues with the evolution of central banking, and concludes with a vision for the future of our international monetary system. As central banks around the world prepare to launch their own crypto-competitors, Bhatia illustrates how the invention of Bitcoin created a seismic shift in money and merged the monetary and cryptography sciences. His unique analysis of "layered money" illuminates money markets for the general reader and shows how Bitcoin is becoming a trusted global currency. Readers will come away with an understanding of the mechanics of our financial system, why the dollar is deeply entrenched despite its state of disrepair, and how Central Bank Digital Currencies (CBDCs) and cryptocurrencies will interact in our new monetary future.

Product Details

ISBN-13: 9781736110522
Publisher: Nikhil Bhatia
Publication date: 01/18/2021
Pages: 180
Sales rank: 98,915
Product dimensions: 5.50(w) x 8.50(h) x 0.41(d)

About the Author

Nik Bhatia is a financial researcher, CFA charterholder, and Adjunct Professor of Finance and Business Economics at the University of Southern California Marshall School of Business where he teaches Applied Finance in Fixed Income Securities. Previously, Nik worked the US Treasuries trading desk for a large institutional asset manager and has extensive trading experience in money markets and interest rate futures. After starting his teaching career, Nik felt the urge to bring his research on both the international monetary system and Bitcoin together as one to write Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies. He has a BA in Social Sciences from University of Southern California and a Master in Finance from IE Business School in Madrid, Spain. Nik lives in Los Angeles, CA with his wife and young daughter.

Table of Contents

  • Preface
  • Chapter 1: Fiorino d'Oro (Florin of Gold)
  • Chapter 2: The Emergence of Layered Money
  • Chapter 3: Central Banking
  • Chapter 4: Federal Reserve System
  • Chapter 5: Retiring Gold
  • Chapter 6: Dollar in Disrepair
  • Chapter 7: A Renaissance of Money
  • Chapter 8: Layered Bitcoin
  • Chapter 9: Central Bank Digital Currencies
  • Chapter 10: Freedom of Currency Denomination
  • Acknowledgements
  • References
  • About the Author

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