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Saturday, June 27, 2009

Gameinlane Virtual Currency Exchange

For all of the followers of my blog you know I have been interested in the rapid evolution of virtual currency. This weeks announcement that the Chinese government will begin the full regulation of virtual monetary exchange underscores the importance of virtual currency for the world economy. They have instituted this move because virtual currency trade is disrupting the trade and value of traditional currencies. This further confirms my prediction that the intersection of virtual currency and traditional currency is on the horizon. In fact, it is already here. I am of the opinion that this is the single most important development we may see in our life times. It will create all kinds of opportunities and challenges. It will rock Wall Street and redefine Main Street. The line between virtual goods and physical goods went from blurred to non existent.

So how do you get on board and not buried in the onslaught of virtual goods merchants and virtual currency issuers. You leverage virtual currency to get big fast!!!

We have marveled at Blizzards early success and Zynga's recent success in this space. Their big problem is that they act as insulated silos not encouraging the open exchange of their currency. Guess what! This is a big mistake and a great opportunity for other virtual currency issuers to create larger and more sophisticated trading environments. How about inter trade of virtual currency between issuers? Yes, this is the next step and a way to grow a much larger community of virtual currency users and virtual currency.

At the risk of self promotion I have started a business, www.gaminlane.com to do just that. I have begun to engage game companies and virtual currency issuers to join the virtual currency marketplace.

If you are issuing currency now leverage it by allowing it to be exchanged with other currency issuers. Start establishing a real value for your currency by allowing people to use it outside of your environment!!

Let's create the next big wave in virtual currency. For more information on how to sign-up please contact me at kflood@gaminlane.com.

Is my prediction of a Universal Virtual Currency on the Horizon??

4 comments:

business foreign exchange said...

Nice blog for transfer money online. it's facilitate foreign exchange business with the help of business foreign exchange and also transfer to overseas.

business currency exchange said...

It's a nice informative blog for business currency exchange online.

live roulette said...

Surely this is a good thing for some people. However, what concerns me most is the possible harm that may happen before, during and after the transactions. What are these and can they be easily detected, since money is what we are talking here?

Kevin Flood said...

Certainly the exchange of virtual currency should be treated with the same care(regulation) and oversight that is currently assoiciate with conventional currency exchanges.

The risk that currently exists is that "authorities" are not moving fast enough to build a regulatory regime around virtual currency trading.

I suspect that complaints and issues with the trade will ignite an interest on the part of regulators to roll currency trading platforms under current banking and exchange law.

Another alternative direction may be defacto populist regulation and control. If issues arise people will identify the issue and collective stop practices that are causing issues.