Abstract: In this paper, people often discuss the issue of virtual money to do the scoping, analysis of the problem of inflation, defined the relationship between money and virtual money. According to the Internet micro-payment bottlenecks judge, points card model is an effective means of micro-payment solution, and that mobile operators point card mode best suited to serve as "virtual bank."
Keywords: currency, virtual currency, points card, payment
The continuous development of the Internet has affected all aspects of social life, but also because of this, the Internet requires a specific currency to meet its development needs. Although not an official product appears, but the emergence of virtual currencies will fall, can not be stopped.
The nature of virtual currency
In fact, the "virtual" This is not the most important forms and manifestations, the most important is the intrinsic value of the problem. That is, the value of the virtual currency on behalf of, the representative of the general value of money, what kind of connection and distinction. The first characteristic: the value of the formation mechanism. General value of money and virtual money a different basis, the former representative of the effectiveness of the latter represents the value.
The second characteristic: the currency decision mechanism. General currency by the central bank, the virtual currency by a personal decision. General currency sovereign body in the Republican center; virtual currency sovereignty of the individual nodes in a distributed. The third characteristic: the value of the exchange mechanism.
General value of the currency conversion, completed in the money market; while the value of virtual currency conversion, completed in the virtual currency market. General value of the currency and the exchange of virtual currencies, general market through the exchange of the two completed under special conditions exist in the individual market exchange relations immature. Therefore we can say, generally the currency and virtual currency in different markets.
It is now often discussed in Internet virtual money can be divided into two types: first is to use the RMB to buy points, such as the Q coin (QQ point card), a grand point card, Baidu points card; the second is the online game which players game currency, such as "World of Warcraft" and "Warcraft currency", "blood lakes" and "blood money" and "Heaven" and "money heaven" and so on. The former is similar to shopping voucher, from the normal channels can not be converted into RMB consumption is a means of micro-payment; the latter is a game of virtual goods category, the game's virtual world, which acts as a virtual commodity exchange medium.
Inflation
For example, a game of virtual currency and RMB ratio, initially may be 800,000 to 1, then may change to 8 million to 1. May be able to buy a castle today, the virtual currency, to tomorrow, enough to buy a Tomahawk was. Some people worry that the game virtual currency could trigger inflation, which he did not understand the market of virtual currency exchange mechanism, the virtual currency market, money market and confusing. As the commodity market imbalance between supply and demand can not be a direct result of imbalance between supply and demand in the currency market, but must be passed in the overall market, as additional money will lead to inflation; virtual currency market supply and demand imbalance, the currency market can not lead directly to inflation. Inflation caused money market has two key points: First, whether the formation of a unified virtual currency market; Second, the virtual currency market is the formation of the level of currency exchange. Two are negative.
Currency depreciation for the current game situation, could be interpreted as a value-added services as conditions of service of the game changed. As a general increase in the level of the player or the number of players increased, the increased demand for virtual currency, prices of services involved and the virtual currency of the price level declined. Because of this change in supply and demand conditions, leading to a decline in the price of services.
For the first kind of virtual currency "point card", because only in the field of Internet value-added consumer can not be converted into currency, can not meet the level of the virtual currency market conditions and currency exchange form, it can not trigger real inflation. To prevent the virtual currency impact on the real currency, virtual currency market, the Government will prohibit the formation of the level of currency exchange, which determines the currency to virtual currency from one-way convertibility.
Point card to pay part of settlement of minor mode
According to CNNIC, China Internet Network Information Center report, as of December 31, 2005, the number of Chinese Internet users reached 111 million, an increase of more than 17 million end of 2004, growth rate of 18.1%. However, only 20% of Internet users have bank cards, with Internet banking and willingness to enter their account number and password online and even fewer people want to spend two dollars to see if a movie will not deal, consumers can not order a few dollar remittances to the post office.
Internet value-added services for the 1-2 yuan more than the small payments, such as the Patriot music song download a genuine need for 0.99 yuan, a number of game cards in time be converted into cash while spending only 0.4 yuan per hour - these small Internet value-added services to pay into the biggest bottleneck.
Bank online payment (internet banking) is extremely rapid recent development of two or three years, the current popular of two kinds: First, the direct use of online payment vendors sell their products (B2C), for example, by purchasing a variety of network cloud network of currency Q Tencent net with silver coins to buy. Second, the use of their own virtual bank to pay an intermediary to provide personal account system security (C2C), such as the security of payment through eBay, Taobao's Alipay and so on. However, the disadvantage of internet banking users to pay for the online habits of not fully established, many users worry about security factors, which the whole of China's Internet security environment and the credit mechanism.
Another point card payment method has already gone deep. Micro-payment channels are tilted to the virtual currency, game manufacturers at this point feeling deep. Players to buy point card through virtual channels acceptance of sudden change, their familiarity with the virtual platform has been greatly increased, which makes this ratio in 2006 may be a qualitative change.
Who is better suited to act as a virtual bank
Consumption habits of Chinese Internet users to make Internet value-added service providers to pay into this new area, which would place them among the numerous problems. Most companies have already begun to realize, the power to unite more influential than go it alone, but in reality they restrict the power of cooperation is obviously more powerful, Internet value-added service providers to operate with not minding its own business areas of business, where they are this tired.
Internet virtual currency in circulation are of paramount importance, the better the circulation the higher the value. In fact, there have been some network had big money maker for small manufacturers on behalf of the fact that the payment system: the small game companies find it much better than a system of self. But this does not mean that a strong channel vendors have been encouraged to do so, over time, they began to use their own brands do not want to take the risk of the operation of small firms, firms also exist between the more or less some competition relations, which also hampers other vendors provide similar services for the trend.
China is now the point card market, largely similar to the ancient Chinese banks, money from each ticket is limited to use in the home, there are some among the various barriers to entry. Can provide more services virtual currency, as the general circulation of the broader equivalent, to win more customers. So point card market needs a "virtual bank."
Coverage and competition from the customer point of view, the main characters should be the most suitable for mobile operators. Advantages are as follows: the user to override advantage that users just billions of dollars, but has a number of mobile phone users are already nearly four times; mobile operators do not directly operate the Internet value-added services and online games, and Internet value-added service providers and game operators did not compete relations; has a complete sales channels, such as the existing mobile recharge cards sales outlets, is the most comprehensive sales network covering; mature platform operating experience and brand advantages, easier to organize cooperation with Internet service providers, to provide users more satisfactory service.
Recommended practice of mobile operators as follows: construction of mobile point card system, not only for mobile operators signed SP services, but also for Internet value-added service providers and gaming operator services; for the SP, the Internet value-added service providers, the game offers a variety of carriers Exchange docking mode, mobile point card with the manufacturers for different values of existing points card exchange; in the existing mobile top-up channels to provide users with a variety of filling channels, including direct purchase of mobile point card, mobile phone recharge deductions, such as mobile phone recharge wallet.
Point card will be the player you want to move the "common currency"
There is demand, there is supply, you will naturally create a market is easy to get just as our ancestors once used as a cow enchant two axes. As a result, online games so the world staged transaction. The first few years, due to electronic payments has also developed the virtual commodities are generally "the same city transactions." Buyer and the seller to an Internet cafe, sit down side by side, you give me the yuan, in the game, I put the virtual currency or equipment transferred to you. Later, remittances as a major method of payment. However, with the burgeoning virtual transactions, buyers and sellers may be a one in Hainan, Heilongjiang, the primary virtual property transactions the primary way to start the same city the yuan is not convenient, and money was too unsafe, they begin to need a Medium. A lot of games, players use the RMB to buy game cards, then cards for virtual goods. RMB - points card - the way of virtual goods transactions to remote players out of money trouble. However, transactions between the different game how to solve? This requires a "common currency."
Mobile point card with the conversion of all game cards will act as a virtual world of hard currency, the yuan - Mobile point card - a specific game cards - given the way the game of virtual goods transactions will meet the needs of gamers.
Conclusion
Payment of the virtual world has caused bottlenecks in the Internet company's attention. Recently, Baidu has launched "Baidu currency" and that consumers can achieve by Baidu money "card." Mobile operators to create the "virtual bank" is not better than Baidu advantage?