The Exchance and Investment Tool of postmodern Society: Virtual Money

Abstract

The use of virtual currencies as a means of exchange and investment is a situation specific today’s information, informatics, postmodern, risk society. In other words, each period has produced its own unique means of economic value. The barter method used in the economic activities of hunter gatherer societies and precious metals, coins and paper money in agricultural and industrial societies are indicators of this situation. The dominance of information technologies and global economic activities in postmodern societies have revealed the inadequacy of classical means of exchange. The phenomenon of virtual money is aimed at the needs of the new social system. Virtual currencies have been accepted by the innovative, technology-literate young population groups of societies. However, conservative middle and older age groups in societies have approached virtual currencies cautiously due to the risks they pose. These groups are associated with virtual currencies the stock market or gambling. These age groups in countries with a majority Muslim population, such as Turkey, supported their negative attitudes towards virtual currencies with religious references.