Tokens: The Future of Money in the Age of the Platform

In Tokens, Rachel O Dwyer explores the rise of digital platforms as new banks, leading to the emergence of new forms of control and discrimination. She argues that private and grassroots tokens have always haunted the real economy, but as large tech platforms issue new money-like instruments, tokens are suddenly everywhere. This development challenges the balance of power between online empires and the state and offers a flexible and subversive route to compensation, but can also be a means of amassing frightening new powers.

Format: Hardback
Length: 320 pages
Publication date: 03 October 2023
Publisher: Verso Books

Longlisted for the FT Schroders Business Book of the Year Award 2023, "Tokens" is a groundbreaking exploration of the emerging world of tokens, where online platforms are issuing new money-like instruments such as phone credit, shares, gift vouchers, game tokens, and customer data. This transformative shift has profound implications for the economy, power dynamics, and control.

In this book, Rachel O Dwyer delves into the history of extra-monetary economies, revealing that private and grassroots tokens have always haunted the real economy. However, with the rise of large tech platforms, tokens have become ubiquitous, transforming the way we think about money. Amazon's Turk workers are being paid in gift cards, online streamers trade in wishlists, foreign remittances are sent via phone credit, and Bitcoin, gift cards, NFTs, customer data, and game tokens are the new currency in an evolving economy.

This development challenges the balance of power between online empires and the state, offering both flexible and subversive routes to compensation. However, for the platforms themselves, tokens can be a means of amassing frightening new powers.

"Tokens" is an essential read for anyone concerned with digital money, inequality, and the future of the economy. It provides a comprehensive analysis of the current state of play and offers insightful predictions for the future. With its engaging writing style and accessible language, this book is accessible to a wide audience, including policymakers, entrepreneurs, and consumers.

As the world continues to evolve, "Tokens" is a timely and important contribution to the ongoing debate about the future of money and power. It is a must-read for anyone who wants to stay ahead of the curve and understand the implications of this revolutionary technology.

Weight: 480g
Dimension: 242 x 161 x 24 (mm)
ISBN-13: 9781839768347