Shady Deals Close Second Life Banks
Second Life has been forced to close all of their banks because of fraudulent business dealings.
Linden Lab, the owner of the popular virtual world, had taken a hands-off approach to the virtual banks, saying they were not responsible for actual transactions, just the software. However, they eventually shut down all the banks that were unable to prove a government registration statement or financial institution charter. Apparently none could.
Linden Lab, the owner of the popular virtual world, had taken a hands-off approach to the virtual banks, saying they were not responsible for actual transactions, just the software. However, they eventually shut down all the banks that were unable to prove a government registration statement or financial institution charter. Apparently none could.
Implications - With the economic recession still hanging over many consumers' minds, money issues are at the forefront of purchasing mentality. Companies should consider more economical, low-cost designs that will appeal to the broad consumer base still anxious to spend any money at all.
