Wednesday, January 9

Banking Crisis in Second Life!

This was so interesting and frankly a very interesting view of where life is heading in the banking world. If you remember the lines in front of the Northern Rock branches, now you have the start of a banking run online. Read this and wonder. I quote some bits:

To begin with, Second Life banks have something of an iffy reputation. Although most have acted responsibly, there have been some well-known disasters such as Ginko in which investors lost hundreds of thousands of Lindens. My own banking has been with JT Financial. After an event about discussing business in Second Life months ago, I was approached by one banker who invited me to do business with his institution. I put only a little cash it, wary that it might disappear. But it didn’t. Later on after winning some cash in a trivia contest, I put a little more in, investing a fraction of it in a little stock. The idea was for emergency funds in case something happened to the Lindens on me. I suppose another reason was some real-life habits are hard to break. Still, my funds were only a small fraction of the total amount of Lindens I’ve usually had.

See the picture of the online virtual banking run?

All this to be taken with a grain of piquant salt!!!

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