A Socio-Legal Theory of Money for the Digital Commercial Society: A New Analytical Framework to Understand Cryptoassets

This book argues that we are not in the middle of a financial revolution, but an evolutionary one that can be traced back to the origin of money. It provides a multidisciplinary analysis that includes elements such as intellectual property rights and the role of inside monies and technological infrastructures developed and supported by the private sector. It proposes the design and regulation of new payment systems and invites the reader to look beyond the dissemination of individual Distributed Ledger Technologies such as Bitcoin.

Format: Hardback
Length: 288 pages
Publication date: 22 February 2024
Publisher: Bloomsbury Publishing PLC

The book explores the need for new regulations and regulatory agents to adapt to the evolving landscape of money in the Fourth Industrial Revolution. Following the Global Financial Crisis and the introduction of Distributed Ledger Technologies (DLT), there are differing opinions on whether we are witnessing a revolutionary or evolutionary shift in monetary systems. This book contends that rather than a revolutionary transformation, we are observing an evolutionary process that can be traced back to the origins of money.

The book offers a comprehensive multidisciplinary analysis, incorporating elements such as intellectual property rights, which are often overlooked in the legal analysis of money. It also proposes that traditional perspectives on the exercise of monetary power fail to recognize the role of inside monies and technological infrastructures developed and supported by the private sector, as exemplified by the evolution of the cryptoassets market and cases such as Banco de Portugal v Waterlow & Sons.

The book presents a proposal for the design and regulation of new payment systems, urging readers to look beyond individual DLTs like Bitcoin. It emphasizes the importance of collaboration between academics, regulators, and policy makers to address the challenges and opportunities posed by the evolving financial landscape. By examining the historical, legal, and technological aspects of money, the book provides valuable insights into the future of payment systems and the role of regulations in shaping them.

Dimension: 234 x 156 (mm)
ISBN-13: 9781509969685