The Effect of Disruptive Technologies on Monetary Policy

14:00 23-02-2014
The Effect of Disruptive Technologies on Monetary Policy

מרצה: ד"ר עמוס ברנס   Dr. Amos Baranes, CPA

23.2.2014 | בשעה 14:00 | בניין 2 | חדר 105

"The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” President Thomas Jefferson, (Attributed), Third President of the United States (1743-1826).
In this paper, it is shown that the tool for which President Thomas Jefferson was looking was created in the last several years, and is known as e-Money.  This disruptive technology has allowed for the separation of the bookkeeping functionality of money from other banking functionalities, and has a real effect on the monetary policy that central banks will be able to carry out going forward.  The paper also discusses the difference between e-Money and Bitcoin, and demonstrates that the latter is inferior due to its artificial way of creating e-Money.

Author Description:
Dr. Amos Baranes earned his PhD from the University of Chicago, and is also a Certified Public Accountant in the United States.  He worked at PWC as a Senior Economist in the field of Transfer Pricing.  At Lexecon Inc., Dr. Baranes developed the practice of Corporate and Asset Valuation.  He also founded the company AVNAT Ltd., which provides business intelligence services to financial institutions.  Recently, Dr. Baranes established Africa Industrial Business Center (AIBC), which provides consulting services on behalf of the World Bank in the fields of Business Intelligence and Training for Financial Institutions.  Currently, he lectures in advanced courses in Finance and Information Technology at the Interdisciplinary Center (IDC) Herzliya, the University of Haifa, and Sapir College in Israel.