Monday, March 23, 2009

Virtual bank?

Regular readers will be aware of IP Freely's interest in the phenomenon that is virtual worlds. I was therefore extremely interested to read a piece on the BBC site regarding 'Entropia Universe'. It would appear that they have been granted a 'bank' licence by the Swedish Financial Supervisory Authority, this allows them to "be in a position to offer real bank services to the inhabitants of our virtual universe,".

It will allow Mindark (the people behind Entropia) to offer interest bearing accounts, deposit salaries, pay bills and give loans. For those of you worried about Iceland esque crashes you will be pleased to hear each account is protected by deposit insurance up to £42,000.

Personally IP Freely will be sticking to a traditional account for the time being, but could this be the future?

Full article available here.

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