The rise of virtual currencies
I blogged recently about the prospect that Visa could move towards supporting the virtual currencies in virtual worlds, or perhaps even create a new currency to support non-monetary exchanges. Dave Birch, who knows far more than I do about this subject, and who blogs at the Digital Money Forum, has just written a long, informative, and amusing post on this subject. There’s a flavour if you click on “the rest of this post”.
Something you may not have noticed, but there was another milestone passed on the road to the future of banking a few weeks ago, when Project Entropia auctioned banking licences for its virtual world. In fact there were five licences sold, with the highest bid at $99,900 going to “Yuri”, an undoubtedly fit and proper avatar. Financial services follow the money, even when it is virtual.
“Eve seemed like a playground for totally unfettered hardcore capitalism, with none of our justice systems or controlling bodies.”