Summary of The Future of Money

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The Future of Money summary
Will cryptocurrencies unseat the world’s most powerful financial institutions?

Rating

8 Overall

7 Importance

8 Innovation

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Recommendation

Throughout the ages, money has undergone more reinventions than Madonna. Its latest guise, programmable cryptocurrency, enables the secure flow of money without the need for institutional oversight, explains MIT researcher Neha Narula. getAbstract recommends Narula’s clear-cut introduction to the basics and potential of cryptocurrencies to the uninitiated who are curious about the latest innovations in finance.

In this summary, you will learn

  • How cryptocurrencies have evolved
  • How they work
  • How digital currencies will change the way people and companies conduct transactions and assign value
 

Summary

The traditional currency of the Yap people of Micronesia was Rai stones, limestone discs that weighed up to four tons and measured as much as 12 feet wide. The Yap couldn’t physically exchange the stones, so they recorded who owned what part of each stone. The stones weren’t “inherently valuable,” but...
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About the Speaker

Neha Narula is the director of cryptocurrency research at the Digital Currency Initiative at MIT Media Lab.


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