© Kariappa Bheemaiah  2017

Kariappa Bheemaiah, The Blockchain Alternative, 10.1007/978-1-4842-2674-2_1

1. Debt-based Economy: The Intricate Dance of Money and Debt

Kariappa Bheemaiah

(1)Paris, Paris, France

The story of banking, economics, and finance has been a story of continuous evolution that has mirrored the different stages of human civilization. This was best documented in Niall Ferguson’s book, The Ascent of Money (2009). In his book, which was later adapted to an Emmy wining television documentary for Channel 4 (UK) and PBS (US), Ferguson traced the origins of cash and literally showed how “money makes the world go round.”

This concept of money being at the epicenter of society can be looked at as an existential reality. It is referred to ...

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