LAU professor: Bitcoin will have ‘large impact’ on global economy

Bitcoin blockchain Lebanon Columbia Professor

Lebanese American University professor Saifedean Ammous published a book called ‘The Bitcoin Standard’ where he calls the cryptocurrency a ‘decentralized alternative to central banking.’

The professor, who is also a visiting scholar at Columbia University, explores the history of currencies and how different forms of money eventually became undesirable and replaceable.

“The most important thing that bitcoin offers is a new form of sound money outside the control of any authority of government,” Ammous said in an interview with World Crypto Network. “I think it is going to have a very large impact on how the world economy functions in the future.”

Ammous goes on to explain that Bitcoin is immune to many of the factors that that cause typical Fiat currency to devalue and hyper-inflate.

Federal banks cannot increase printing of the online currency and there aren’t new sources that can add onto the Bitcoin supply, Ammous said.

“Even tiny technical changes (in Bitcoin)…these sorts of changes have been almost impossible to make,” he said. “Bitcoin as it is is going to survive.”

WATCH: Interview with Saifedean Ammous, Author of The Bitcoin Standard

The book was published by the John Wiley & Sons publishing house. It is sold for about $27 on Amazon.

To learn more about Dr. Ammous’s book, click here to view the book’s description through the Columbia University website.

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