World Stock Exchange News
Press Release - WSE 3.0 has Arrived!
Date: July 28, 2007FOR IMMEDIATE RELEASE - 27 JULY 2007
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The Internet based Stock Market Revolution is here!
The journey started in December 2006 with an opportunity which was followed by the vision of Australian entrepreneur Luke Connell. Today the concept of an Internet based World Stock Exchange servicing the virtual world community of Second Life has achieved over 5500 trading accounts and over 60 virtual companies exceeding 400 million linden dollars in trading volume. The WSE has exceeded all expectations however it is an emerging and development market that will always be improving. This is only the beginning.
Today we announce the release of WSE 3.0 that includes enhanced security features such as 256-bit SSL encryption, Risk API for Second Life residents along with the ability for general Internet users with a browser to trade on the World Stock Exchange using the World Internet Currency.
The World Internet Currency will act as one fictional currency bridging the gap between the real and virtual worlds. This will encourage growth in the virtual economies around the world especially in Second Life while providing the everyday Internet users with the ability to LEARN - HAVE FUN AND PROFIT.
We expect a huge increase in trading accounts as a result of our new services and a large real life marketing campaign to promote the World Stock Exchange as the Worlds Leading Stock Market game.
Just prior to closing the WSE for deployment of WSE 3.0 we noticed an unusually large withdrawal and decided to close the site immediately for further investigation while we also deployed the new services. We now know that a past employee for Hope Capital in Second Life took advantage of the old WSE 2.0 using their inside knowledge of the system and as a result they made false deposits into the WSE totalling L$3,215,916.00.
We are aware of the methods used by the individual in question and these methods are no longer possible with the enhanced security features of WSE 3.0. There is an investigation in progress regarding the Second Life avatars linked to this event and as a result we are uncertain how much of the linden dollars will be recovered.
We have recovered a portion of the lindens since the investigation began. This loss of linden dollars has not effected the operations of the World Stock Exchange and will be deducted from the virtual profits and added as a loss to the balance sheet of Hope Capital Ltd (HCL) the virtual company that controls the Second Life operations of the World Stock Exchange. The WSE is financially stable and there is no foreseen security related risk to the WSE in future.
*'Virtual Company' refers to an Internet based business generating income from a fictional currency and includes many businesses based in virtual worlds and 3D multi user environments such as Second Life.
'Fictional Currency' is used as game tokens and have no monetary value in and of themselves and as a result are not be taxable as income. In most cases a fictional currency constitutes a limited license right for use by account holders and is subject to the terms of each Fictional Currency provider. The World Stock Exchange supports the "Linden Currency" (Linden Dollar, LND$, L$, Lindens) and the "World Internet Currency" (WIC, WICS, W$).
The financial and group operations of a virtual company are controlled and managed by the controlling WSE account holder who is assigned with the title CEO.
'2004 – '06 were the years of Google, YouTube & MySpace
'2007 – '09 will be the years of IPTV, Wikipedia, FaceBook, Second Life and the World Stock Exchange!
Second Life Media Contacts:
LukeConnell Vandeverre
CEO
World Stock Exchange(WSE) and Hope Capital Ltd.(HCL)
MouzurX Wise
European PR contact and Customer Service employee
WSE
First Life Media Contacts:
Luke Connell
Managing Director, Hope Capital
info@hopecapital.com.au
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