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Currently Targeting... New Virtual World Currency

New Virtual World Currency

Joining the ever continuous push for a new, non-US dominated world currency standard, China, home to one of the larger mmorpg virtual economy infrastructures, is calling for what more than a few G20 developing nations have already called for: remove the US Dollar, and any specific countries currency, from the valuation peg for world currencies:

In a paper released Monday, Zhou Xiaochuan, governor of the People’s Bank of China, said a new currency reserve system controlled by the International Monetary Fund could prove more stable and economically viable. A new system is necessary, he said, because the global economic crisis has revealed the “inherent vulnerabilities and systemic risks in the existing international monetary system.” [nyt]

An international virtual currency, regulated by some unknown UN style IMF bureaucracy (gerontocracy?), would probably be different than an esperanto move, just because $ seems to be more important than teh languidge. Virtual economies and currencies are clearly (well, mostly harmless (hhg)), at least until the global banking industry confuses reality and the unreal, which doesnt seem too likely to happen.

However, a few thoughts to consider in implementing conceptual bleed-thru via a deeper virtual-world to real-world abstraction might involve some of the following noospheric vrw issue tragedy of the commons daily web roundup:

  1. virtual cash breeds real greed [wired]
  2. virtual currency deflates real one [gigaom]
  3. taxation issues [virtuallyblind]
  4. regulation issues [zdnet]
  5. no issues at all techvangelists [blogspot]
  6. virtual cash addiction [playnoevil]
  7. never-happen-here reality proponents [bloomberg]
  8. virtual entrepreneurs need less flying pnises [playnoevil] [photo@bbc]
  9. economic panic button UI [terranova1 & terranova2]

Dont forget to check out the latest virtual and real currency exchange rates.


March 25, 2009
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