Financing our future : unveiling a parallel digital currency system to fund the SDGs and the common good / Stefan Brunnhuber.
Brunnhuber, Stefan, author.
2021
HG1710
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Title Financing our future : unveiling a parallel digital currency system to fund the SDGs and the common good / Stefan Brunnhuber.
Author Brunnhuber, Stefan, author.
ISBN 9783030648268 (electronic bk.)
3030648265 (electronic bk.)
9783030648251
3030648257
DOI https://doi.org/10.1007/978-3-030-64826-8
Published Basingstoke : Palgrave Macmillan, [2021]
Language English
Description 1 online resource : color illustrations
Item Number 10.1007/978-3-030-64826-8 doi
Call Number HG1710
Dewey Decimal Classification 332.4
Summary The monetary system is the indispensable missing link in the debate of sustainability, and whether the current financial system can handle these evolved needs. To date, the UN Sustainable Development Goals (SDGs) primarily have been financed either through the private sector, through conventional public sector taxes and fees, or through philanthropic commitment. Assuming a need of 4 to 5 trillion dollars annually in the 10 to 15 years left to finance our future, these conventional sources of finance are insufficient in terms of both the scale and speed of funding required to finance our future. Furthermore, the inherent instability of our financial system forces the world community to focus first and foremost on repairing and stabilizing the existing system. The development of cryptocurrencies using distributed ledger technologies (mainly blockchain) has prompted leading central banks to study the potential application of this approach to independently create purchasing power. In this vein, this book offers a new approach, namely introducing a parallel electronic currency specifically designed to finance global common goods and provide the resources necessary to achieve the SDGs. Furthermore, this mechanism would have a stabilizing effect on the existing monetary system. The book argues that one way this could be achieved is by giving central banks a modified monetary mandate to inject new liquidity into the system using a top-down approach. Alternatively, liquidity could come from corporate or communal initiatives with crypto- or communal currencies in a bottom-up approach. The author maintains that by issuing a blockchain-enabled parallel electronic currency earmarked for SDG-related projects and using other channels for monetary flow rather than the conventional ones, the future could be financed in a different manner. In the long run, abandoning our current monetary monoculture and introducing a monetary ecosystem would stabilize international financial markets, increase monetary regulatory efforts, reduce negative externalities, create a social Pareto optimum and stabilize democracies. This book presents, in the same spirit as Fritjof Capras The Tao of Physics, a Tao of financean outside-of-the-box approach to financing global common goods.
Bibliography, etc. Note Includes bibliographical references and index.
Access Note Access limited to authorized users.
Source of Description Description based on print version record.
Available in Other Form Financing our future.
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Chapter 1. A New Narrative for the Anthropocene Era
Chapter 2. Beyond the Mantra of Traditional Finance
Chapter 3. Western Thinking at its Best
Chapter 4. Unleashing the Sleeping Giant Discovering New Ground and Starting the Dance of the TAO
Chapter 5: The TAO of Finance
Chapter 6. New Symmetries The Future has a History or a Path with a Heart.

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