Full Description
This book offers a holistic approach to understanding the "Why," "What," and "How" of tokenized money, examining its necessity, functionality, and implementation strategies. It covers a wide range of topics, from Central Bank Digital Currencies (CBDCs) to private stablecoins, decentralized finance (DeFi), and regulatory frameworks. Global perspectives are analyzed through case studies, pilot projects, and early adoption trends worldwide, evaluating the role of tokenized money in financial inclusion, cross-border payments, and the future of global trade. Critical insights are provided, including opposing views, risks, and the broader impact of digital money on financial stability, sovereignty, and innovation.
The book is tailored for financial professionals and industry leaders, highlighting practical use cases, adoption trends, and strategies for leveraging tokenized money. Policy makers and regulators will gain insights into governance, legal frameworks, and global regulatory practices. Academics and students will find a structured framework for courses on fintech, monetary policy, and digital finance.
Contents
Chapter 1. Introduction.- Part I: Why Do We Need Another Form of Money?.- Chapter 2. The Main Stages in the History of Money.- Chapter 3. Tokenised Deposits: The Commercial Bank Money Upgrade in a Digital Economy.- Chapter 4. Tokenization of Securities.- Chapter 5. Tokenization of Liquid Investable Assets - Equities, Bonds & Funds.- Chapter 6. Tokenisation of Illiquid Assets.- Part II: What Is Tokenised Money?.- Chapter 7. CBDC - A Solution Looking for a Problem?.- Chapter 8. The Retail Central Bank Digital Currency (CBDC) Landscape.- Chapter 9. Taler as a Synthetic Central Bank Digital Currency.- Chapter 10. Retail Central Bank Digital Currencies: An Inevitable Innovation for the Stability of the Monetary System in the Digital Age.- Chapter 11. Commercial Bank Money Token (CBMT).- Chapter 12. Stablecoin Use Cases and Adoption From the End-User Point of View.- Part III: How to Implement Tokenised Money?.- Chapter 13. Mapping the Stablecoin Ecosystem: Taxonomy, Stakeholders, and Systemic Interdependencies.- Chapter 14. Stablecoin Business Models: Current and Future Analysis.- Chapter 15. Offline-Capable Central Bank Digital Currencies as a Key Enabler of a Resilient Digital Payment System.- Chapter 16. The Legal and Governance Framework of Stablecoins: International Standards and Jurisdictional Divergences.- Chapter 17. Regulatory Approaches of Stablecoins.- Chapter 18. Will Tokenized Money Transform Wholesale and B2B Payments?.- Chapter 19. The "Productization" of Money and Its Impact at the Point of Sale.- Chapter 20. The Case for a Stablecoin Clearing System: Enabling Ubiquity Through Market Structure Evolution.- Chapter 21. Adoption by Design for Digital Currency Systems.- Chapter 22. From Stability Guardians to Innovation Architects: The Transformation of Monetary Authorities in the Digital Age.- Part IV: Global Digital Money Landscape: Current Developments Over the World.- Chapter 23. Public and Private Developments Around the World.- Chapter 24. The Pursuit of Resilience in European Retail Payments.- Chapter 25. China's e-CNY: From Wallet Wars to a National Payments Operating System.- Chapter 26. Tokenization and the Future Monetary System: DCJPY as Tokenized Deposits in Japan.- Chapter 27. Blockchain and QR Codes: Revolutionizing Cross-Border Payments and Financial Inclusion in Southeast Asia - A Case Study of Cambodia's Bakong Project.- Part V: Critical Views on Tokeised Money.- Chapter 28. Will Tokenised Money Overthrow Existing Financial Infrastructures? TradFi vs DeFi - Who Will Win?.- Chapter 29. Stablecoins, CBDCs, and the New Geopolitics of Money: From Global Competition to Risks.- Chapter 30. The Stablecoin Paradox: From Decentralized Ideals to Re-Intermediation and Financial Engineering.- Chapter 31. Concluding Synthesis: Probabilistic Scenarios for the Future of Money.
