Konsensus Network
The Pyramid Currency
The Pyramid Currency
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Author: Nik Bathia
Pages: 162
In this fascinating look at the evolution of monetary systems around the world, Nik Bhatia traces the history of money from its origins to its evolution in “layers.” Using gold as an example of this evolution, he reconstructs the layers of this ancient currency, from mined raw material to gold coins and finally to bank-issued gold certificates.
Innovatively, Bhatia proposes a similar paradigm for the evolution of digital currencies. Bhatia’s analysis begins in Renaissance Florence with the Golden Florin and the birth of a 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 cryptographic competitors, Bhatia shows how the invention of Bitcoin created a seismic shift in money and merged monetary and cryptographic sciences.
His unique analysis of “layered money” illuminates monetary markets for the general public and shows how Bitcoin is becoming a trusted global currency. The reader will understand the mechanics of our financial system, why the dollar is deeply rooted despite its dilapidated state, and how central bank digital currencies (CBDCs) and cryptocurrencies will interact in our new monetary future.
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