Prof. Xu Yuan Publishes New Book on Digital Currency

May 06-2023   

Bitcoin, through its existence and continuous evolution, has been impacting on our lives and shaping social organizations, governments, and even geopolitics and international relations, said Xu Yuan, NSD Associate Professor, in a seminar centered on his new book on digital currency.

The book, literally The Boundary Marker of Currency, aims to help the reader probe the novelty of digital currency. Prof. Xu said that Bitcoin’s complexity is largely due to its three overlapping features: technological, financial, and monetary. People tend to balk at the technical terms associated with Bitcoin, which is underpinned by a set of mathematical technology. What is even more befuddling is its financial characteristic: there seems to be no definite answers to such questions as how to price a Bitcoin, what its relationship with other asset prices is, and what factors should be considered when investing in cryptocurrency.

Prof. Xu said that writing the book had led to three major learnings. The first one is the powerful force of the market; in other words, the accomplishment of cryptocurrency attests to the success of market logic. Secondly, modern currency is the exclusive right of the government; reaching a compromise with modern organizations is a prerequisite for new ideas to put down roots. In addition, Prof. Xu said that Bitcoin has been accelerating the evolution of monetary mechanisms and more thoughts should go into the global governance structure, the US dollar system, and monetary disciplines.