SLCN.TV will provide a live broadcast of a panel discussion on the recent changes to the financial services policy in Second Life on January 10, 2007 from 11am to 12 pm SLT. The panel discussion is a special Metanomics presentation to be hosted by Professor Robert Bloomfield, of Cornell University's Johnson Graduate School of Management. According to Bloomfield, "Many people anticipated that Linden Lab would eventually crack down on unregulated financial services in Second Life. However, the financial community was clearly taken by surprise today, when Linden announced that they were banning all banking activity, absent evidence that the financial institution was submitting to real-world regulation from an appropriate body."
"The announcement seems sure to eliminate virtually every bank currently operating in Second Life. Already, banks are experiencing runs, stock prices are falling and some land has been seen listed at fire-sale prices. However, several questions remain. It isn't clear whether this banking crisis will affect the Second Life economy, or the experiences of users who have found the financial sector of Second Life to be a source of interest and entertainment (if not profit). It also isn't clear how the policy affects the dozens of firms that issue equity securities on exchanges (all of which are tied to banks)", says Bloomfield. Bloomfield says that those tuning into this Metanomics session will get a better insight into the history behind this change in policy, and its likely short- and long-term implications. Current guests on the panel are:
• Travis Ristow, BCX
• Intlibber Brautigan, Ancapistan Capital Exchange
• Ben Duranske, Virtually Blind
Catch the live coverage exclusively on SLCN.TV
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