The Hierarchy of Money | Michel Rauchs
Channel: Value of Bitcoin
Date: 2020-08-03

Every day, monetary transactions amounting to trillions of dollars are conducted globally using various forms of financial instruments that are generally treated on par. It is only in times of crises that the often-hidden hierarchy of money, which underlies every monetary system, becomes apparent. This talk will introduce the hierarchy of money in an international context and explore the role that new private money in the form of digital assets may play in this arrangement.

Michel is the Founder and Managing Director of Paradigma, a Luxembourg-based advisory firm specialising in digital assets and distributed consensus systems. Until recently, he was leading the cryptocurrency and blockchain research programme at the Cambridge Centre for Alternative Finance (CCAF), a research institute at the University of Cambridge Judge Business School, where he remains involved as a Research Affiliate. Michel is the co-author of six impactful blockchain research studies and the co-creator of the real-time Cambridge Bitcoin Electricity Consumption Index (CBECI). He is regularly featured in the press to comment on blockchain-related events and has been presenting his research at conferences, industry events, and regulatory roundtables worldwide.

About Bitcoin he says: 
"Bitcoin is one the most fascinating socio-economic experiments in human history, organically emerging and developing on a global scale. Bypassing a long-standing problem in computer science – the prevention of doublespends without relying on a central authority – with an economic and game theory-based solution is nothing short of a stroke of genius. That doesn’t mean that Bitcoin is without flaws, however."

This presentation was performed during the Value of Bitcoin Conference 2020 - on June 2nd 2020
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