Digital Currency and Consumption: The Meaning of Money in an Era of Digital Currency

by Jashim Khan, Russell Belk

Overview

The digitalization of payment modes, combined with the development of Blockchain technology, is shaping the future of digital currency worldwide. Many financial regulators are experimenting with the feasibility of digital currencies nationally in a variety of forms, such as cryptocurrency, virtual currency and central bank digital currency. These digital currencies are just some of those discussed in this book. Each facilitates a transaction efficiently and will likely open an alternative payment system, possibly leading to a global digital currency.

This book will present and highlight a broad view of digital currency in the era of globalization. This book will address the meaning of money in a global world. By going beyond fungible national fiat-based currencies to global cryptocurrency and stablecoins, virtual currencies promise to disintermediate and decentralize money. The digital currencies that are the focus of this book use the internet for transactions and harbor the potential to make a unified digital currency system across the globe. This book explores the role of digital currency in influencing consumer behavior, from spending or saving to gaming, tipping and gambling. It asks what is the future of digital currency and what is its role in facilitating and transforming the future of the metaverse?

Digital Currency and Consumption will be useful reading for a postgraduate audience to understand how digital currencies are shaping the digitalization of transactions and behavior of consumer citizens. It will be of value to researchers interested in a wide variety of disciplines, including international business, finance and consumer behavior.

Product Details

ISBN-13:	9781032544618
Publisher:	Taylor & Francis
Publication date:	12/31/2024
Series:	Routledge Studies in Marketing
Pages:	310
Product dimensions:	6.12(w) x 9.19(h) x (d)

About the Author

Jashim Khan is Associate Professor of Marketing and Director of International Business Management at the Surrey International Institute, University of Surrey, UK and Dongbei University of Finance and Economics, China. He earned a doctorate in business marketing from Auckland University of Technology and a Master of Management (with distinction) degree from Massey University in New Zealand. His research is concerned with understanding the influence of emerging technologies on consumer behavior. His work appears in various international journals such as the Journal of Business Research, Journal of Economic Psychology, Association for Consumer Research, Asia Pacific Journal of Marketing and Logistics, International Journal of Non-profit and Voluntary Sector Marketing, Journal of Wine Research, International Journal of Wine Business Research, International Journal of Online Marketing, Journal of Product & Brand Management, Journal of Marketing for Higher Education, Qualitative Market Research, Journal of Retailing and Consumer Services, Journal of International Consumer Marketing and Qualitative Market Research: An International Journal.

Russell Belk is York University Distinguished Research Professor, Royal Society of Canada Fellow and Kraft Foods Canada Chair in marketing at the Schulich School of Business at York University. His research involves the extended self, meanings of possessions, collecting, gift-giving, sharing, digital consumption and materialism. He co-initiated the Association for Consumer Research (ACR) Film Festival, the Consumer Culture Theory (CCT) Conference and the Consumer Behavior Odyssey. He is the past president and fellow in ACR and has over 750 publications including more than 30 in the Journal of Consumer Research. This work is primarily qualitative and is often conceptual, visual and cultural. In 2012, a ten-volume compendium of his work was published in the Sage Legends in Consumer Behavior series. In 2023, he received a Doctorate Honoris Causa from Université de Reims Champagne Ardenne with a festschrift and volume in his honor.

Table of Contents

1. Money in the Age of Global Digitalization  2. Money in Digital Assets  3. Money in Digital Currencies  4. Psychological Ownership of Digital Currencies  5. Pushes and Pulls in Switching to Digital Currencies  6. The Meaning of Money in Cryptocurrency  7. The Meaning of Money in Digital Game Currencies  8. The Meaning of Money in Tipping Currencies  9. Generation Z, Digital Currencies and Luxury Purchase  10. Generation Z and Irrational Exuberance: Spending in the Present, Speculating and Investing for the Future  11. Digital Currency Issues in the Metaverse  12. Social Currency in the Metaverse  13. Case Study One: Marshall Island’s Sovereign Currency  14. Case Study Two: China’s e-CNY or Digital RMB  15. Case Study Three: Japan’s Digital Currency