{"id":3784,"date":"2018-04-29T10:00:42","date_gmt":"2018-04-29T10:00:42","guid":{"rendered":"http:\/\/www.newmoneyreview.com\/?p=3784"},"modified":"2019-02-08T16:11:50","modified_gmt":"2019-02-08T15:11:50","slug":"a-period-of-seismic-change-in-money","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2018\/04\/29\/a-period-of-seismic-change-in-money\/","title":{"rendered":"A period of seismic change in money"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3781\" src=\"https:\/\/beta.newmoneyreview.com\/wp-content\/uploads\/2018\/04\/Dave-Birch-e1524994016530-300x169.jpg\" alt=\"\" width=\"787\" height=\"443\" \/><\/p>\n<p>In the <em><a href=\"https:\/\/www.blubrry.com\/newmoneyreview\/33558839\/dave-birch-the-future-of-money\">New Money Review podcast<\/a><\/em>, technologist Dave Birch predicts a period of seismic change in the global monetary system.<\/p>\n<p>Birch is a commentator on digital financial services and the author of a well-received book on the future of money, \u201c<a href=\"https:\/\/www.amazon.co.uk\/dp\/B072NH3M52\/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1\">Before Babylon, Beyond Bitcoin<\/a>\u201d, published in 2017.<\/p>\n<p>Birch says that we are witnessing the emergence of many new forms of money, while the post-World War II \u201cWashington Consensus\u201d of national fiat currencies is at risk of breaking down.<\/p>\n<p>\u201cHistorically, when societies have been through big changes, money changes as well,\u201d Birch says.<\/p>\n<p>\u201cThe crash of a decade ago has made many people think the current monetary infrastructure is not fit for purpose.\u201d<\/p>\n<p>\u201cAnd the money of the last age may not be optimal for the post-industrial economy we are now in,\u201d he says.<\/p>\n<p>In the podcast, Birch says that there has been a long-term trend towards decentralisation in the creation and distribution of money, a trend that is accelerating with the emergence of cryptocurrencies, peer-to-peer and other digital money.<\/p>\n<p>Collectively, we may still be in the early stages of witnessing the impact of technology on money, says Birch.<\/p>\n<p>The emergence of bitcoin aside, \u201cWe haven\u2019t yet had a technological revolution in response to the crash,\u201d says Birch, \u201ca revolution that would have meant more transparency and accountability.\u201d<\/p>\n<p>\u201cBut there\u2019s every reason to think that a properly regulated market in new bearer instruments like cryptocurrency tokens and initial coin offerings (ICOs) will actually be very big and very successful.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the New Money Review podcast, technologist Dave Birch predicts a period of seismic change in the global monetary system. Birch is a commentator on digital financial services and the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1013,1012,1026,1014,1011],"tags":[1035,1094,1092,1091,1093],"class_list":{"0":"post-3784","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-account","8":"category-exchange","9":"category-latest-slider","10":"category-payment","11":"category-value","12":"tag-cryptocurrency","13":"tag-fiat-currencies","14":"tag-icos","15":"tag-money","16":"tag-p2p"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A period of seismic change in money - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2018\/04\/29\/a-period-of-seismic-change-in-money\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A period of seismic change in money - New Money Review\" \/>\n<meta property=\"og:description\" content=\"In the New Money Review podcast, technologist Dave Birch predicts a period of seismic change in the global monetary system. 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