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. The 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 harbour the potential to make a unified digital currency system across the globe. The book explores the role of digital currency in influencing consumer behaviour, 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 behaviour.