Given the changing digital payments landscape, opportunities exist for virtual currency issuers to circulate beyond the in-world environments, thereby necessitating "virtual" central banking functions.

1. Currency Design for Social Networks Jon Matonis Monetary Strategy Consulting Digital Payments ׀ Virtual Currency ׀ Central Bank Design themonetaryfuture.blogspot.com Gibraltar, March 2010

3. Virtual Currency Opportunities

4. Central Banking Opportunities in Virtual World Environments

5. Monetary Strategy Consulting

6. Selected Projects

7. Contact Information

9. Peer-to-peer is essential

10. Prepaid cards are a factor

11. In-world to real world convertibility

12. Bearer certificates as negotiable “tokens”

13. Anonymity and untraceability are drivers

14. Non-reversibility is a paradigm shift

16. It's about setting monetary policy

17. It's about creating a medium of exchange

18. It's about encryption and security

19. It's about negotiability and circulation

20. It's about critical mass and installed base

21. Viral design is the competitive advantage

23. Select a unit of account for the real world

24. Leverage existing exchange infrastructure

25. Eliminate real-money trade (RMT)

26. Encourage outside circulation (viral)

28. Key functional areas mirror real world

29. Benefits unique to virtual currencies

30. Drive adoption rates

31. New revenue streams

33. Environments will require in-world central banks or that functionality will be outsourced

34. Envision the virtual economy having multiple non-governmental monetary authorities

36. Maintain convertibilty to “real” backing

37. Perform clearinghouse function

38. Act as lender of last resort

39. Guarantee overall system integrity

41. Drive adoption rates of new users

42. Become the dominant trade currency

43. Attain reserve currency status which will solidfy status and provide issuance opportunities

44. Enjoy new revenue streams

46. Benefit from both in-world and real world currency circulation

48. Licensing and management

49. Seigniorage profits which is the difference between interest earned on purchased securities and costs to produce and distribute currency

51. Analyze e-money laws and jurisdictional issues related to transaction anonymity and traceability

52. Research new markets and prepare feasibility studies appropriate for that country or region

53. Structure the virtual central bank for maximum market penetration

55. VISA International – Foreign currency trading and pricing model (1992)

56. VeriSign – Encrypted payment services product offering (1996)

57. SWIFT – Secure certificate hierarchy and server proposal (1996)

58. Hush – Launched HushMail 2.0 with OpenPGP compliance (2001)