How the ledger controls monetary sovereignty and global power

Writing in the World Commerce Review, Dr. Laurence B. Mussio and Dr. Paul Samson argue that global power increasingly hinges on who controls the ledger—the infrastructure that records and settles financial value. From ancient Sumer to the Medici bankers to SWIFT, ledgers have always been instruments of authority. Today, that contest is being rewritten through stablecoins, tokenized assets, and central bank digital currencies. Do nations that fail to control their own digital monetary architecture risk losing sovereignty—perhaps permanently?