Tethered Money

Tethered Money

Managing Digital Currency Transactions

1st Edition - July 13, 2015

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  • Author: Gideon Samid
  • Paperback ISBN: 9780128034774
  • eBook ISBN: 9780128034972

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Tettered Money: Managing Digital Currency Transactions presents a comprehensive discussion of financial transactions using digital currencies, with the author, Gideon Samid, making the case for their expansion in tethered money. Exploring the technical, legal, and historical aspects of digital money, the author discusses how the emerging technology of money specified for a specific need or to perform a particular task will affect society. The ability to dictate, Samid argues, how money is spent could increase control over our lives and resources, enabling us to practice a certain efficiency that would, in due time, become a pillar of civilization. Informative and thought-provoking, the book describes an evolving future that, in some quarters, has already arrived.

Key Features

  • Delivers an in-depth picture of security issues related to financial transactions
  • Explores recent regulatory developments regarding digital currencies
  • Considers existing cryptocurrencies and alternative payment schemes


Upper-division undergraduates, graduate students, and professionals working in disciplines associated with virtual currencies, including financial institutions, computer technology, regulatory and taxation agencies, and financial markets.

Table of Contents

    • Dedication
    • Purpose
    • Prologue
    • Roadmap
    • Quotations
    • Introduction: Tethered Money – a Game Changer
    • Chapter 1: Money: An Irreverent Analysis
      • Abstract
      • Money: The Numeric Residue of Society
      • Money: Mightier than the Sword
      • Money: The Great Invention
      • Money is Power
      • Money: Man-made Mystery
      • Money: Mirage
      • Money: Mirage Fraud
      • Self-anchored Money
      • Money on Behalf of the People (Central Banks)
      • Money: Changed by Cryptography
      • Money: Tethered
      • Money: An Innovation Turtle
      • “Catch me if you can”: The Ultimate Currency War
      • Conspiracy Theories
    • Chapter 2: Tethered Money: Use and Impact
      • Abstract
      • Earned versus Granted
      • Investment
      • Management
      • Surrogate Mint/subcontracted Tethering
      • Innovation
      • Government
      • Healthcare
      • Gambling
      • Charity
      • Death Wish
      • World Bank
      • Emergency Management
      • Insurance
      • Trust Trap
      • Tethered Trade
      • Tethering Trade
      • Retethering
      • Personal Payment and Privacy
      • Community Bootstrapping
      • Burn Pay
      • Pay-as-you-go
      • The New Electricity Market
      • Nanopayments
      • Access versus Use
      • Napster Revived
      • Loyalty Programs
      • Credit
      • The Banking Paradox
      • In the Hands of our Adversaries
      • International Scope
      • Financial Democracy (Voting with our Taxes)
    • Chapter 3: Digital Money: The Security Nightmare
      • Abstract
      • Cyber Insecurity: Always with us!
      • The General Purpose Computer and its Inherent Insecurity
      • Complexity: Where Security and Insecurity Meet
      • Complexity: How do we Manage it Today?
      • Remote Access and Identity Management
      • The Data/software Shared Storage
      • Complexity Used as a Shield
      • The Quantum Threat
      • The Security Advantage of Digital Currency
      • Deterrence
      • The Oracle
      • Entropic Coins
      • Entropic Coins: Informative Masking
      • The Sub-oracle
      • Transit Security
      • Intermint Security
      • Tightening the Defense Perimeter
      • Digital Currency: The Complexity Route
      • Durable Cryptography
    • Chapter 4: Anatomy of Digital Money Products
      • Abstract
      • Theory and Definition of Digital Coins
      • Bitcoin: The Vision
      • Bitcoin Struggle for Impact and Survival
      • Digitized Fiat Money and Other Commodities
      • Printed Digital Coins
      • Prepaid Transactions
      • Hybrid Coins
    • Accompanying Essays
    • Glossary
    • Further Readings
    • Index
    • About the Author

Product details

  • No. of pages: 176
  • Language: English
  • Copyright: © Academic Press 2015
  • Published: July 13, 2015
  • Imprint: Academic Press
  • Paperback ISBN: 9780128034774
  • eBook ISBN: 9780128034972

About the Author

Gideon Samid

Gideon Samid
Prof. Gideon Samid, PhD, specializes in engineering, economics, cyber-security, and cryptography. Following on his PhD dissertation Gideon has been developing the Universal Theory of Innovation which codifies the generic aspects of Research & Development, and which accelerates the innovation process by focusing on the credibility of the estimate of cost-to-complete. Applying the same for cyber-security, and exploiting his granted patents for a new dimension in cryptography (equivocation v. intractability), Gideon realized early, (2008), the multi-dimensional impact of frictionless payment, crypto-secured currency, and tethered money. He has been building-up this vision ever since; bringing to bear a wealth of cyber-security experience, engineering design, and economic analysis of high-uncertainty projects. Gideon earned his BSc., MSc., and PhD at the Technion -- Israel Institute of Technology; learned his craft serving the State of Israel, working at the Pentagon, Exxon, NASA, SAC, Presearch etc.; running D&G Sciences -- Innovation Productivity Corporation, and recently serving as the Chief Technology Officer at BitMint, LLC; also teaching cyber-security, cryptography, and digital money at the University of Maryland, University College, and at Case Western Reserve University. Gideon authored over 50 peer-reviewed technical articles, and a handful of critically acclaimed books.

Affiliations and Expertise

University of Maryland, Adelphi, MD, USA

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