Business in Virtual Worlds, Second Life

Emory Virtual Worlds – Business & Government Session (Panelist Intros)

Second session at the Virtual Worlds Conference at Emory covers the ‘collision’ of virtual business and virtual government.

Panelists:
Meeting the panelists:

Byron Reeves, of Stanford
- psychology of self representation
- how can we take some of this ‘primitive engagement’ energy and use it in serious contexts
- not so much learning and simulation environment, but how to actually do serious work in virtual worlds
- non-visual things you can do…e.g. non visual games, synthetic currency via email

Rachel Gibson, University of Manchester
- looking at election campaigns online and use of Web and email
- moving into virtual worlds opens up new possibilities
- more abstract idea that there are “virtual worlds of connection” across 2D Web spaces, leading to cyber maps of linkages between web sites, how they’re connected
- current use of tools like Second Life is really migration from Web site to 3D environment
- politics ON and politics OF virtual worlds two different questions

Bill Dutton, Dir of Oxford Internet Institute
- Virtual worlds will powerfully influence routine choices through how people use these virtual networks will “reconfigure access” – who we know, how we communicate, what services we obtain, who we obtain them from
- In politics, virtual worlds demonstrate the opening of the “fifth estate”
- Individuals are choosing to network, creating new networks, and doing this independent of individual institutions (i.e. NOT the traditional media)
- Creating a new “estate” and increasing friction with traditional social systems including major media

Dave Altig, Federal Reserve Bank of Atlanta
- Discussed whether banks will have a place in virtual worlds
- Reminds that a bank is a set of regulations – restrictions on their behaviours based on regulations, with different banks defined differently (e.g. commercial bank vs. ‘hedge fund’ are different because of their regulations)
- Banks therefore currently can’t actually exist in SL because there are no regulations to define them
- Interestingly, Altig points out, the banks in SL didn’t look all that different from real banks
- Comparison to wild cat bank days of the 80s
- Inevitable encroachment of real world into virtual because you can’t think of these types of institutions without these rules/regulations
- “I sort of wish Linden Labs hadn’t intervened…to see whether an institution would have arisen”
- “The experiment continues to see whether inter-commerce institutions can arise without regulation”

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