Social networks have created new forms of money already
and, as I spend more time playing with these virtual currencies, I can see how
they may become the future of money, from a retail and consumer viewpoint
For example, last November, I wrote about the threats of money laundering in
virtual worlds. At the time, most of the threats were emerging, and were
represented by figures such as $9,999 paid on eBay for a virtual weapon in the
online game of World of Warcraft.
worrisome was the Chinese government’s efforts to stamp out virtual gambling and
other illegal activities which, so far, seem to have failed. The capability came
around thanks to the virtual QQ currency of Tencent Holdings.
Anyways, I decided to have another look at QQ, in part prompted
by the start of China’s Olympic Games, and as I started to spend more time
thinking about it, I am convinced that this is a model for the future of retail