WSE OPEN TO THE WORLD!
Submitted by:
World Stock Exchange - WSE (Trade)
Date: October 22, 2009
Dear Shareholders & Market Participants,
I joined the virtual world of Second Life at the start of December 2006 and within the first week I was convinced that virtual worlds especially Second Life will provide an extended platform to the existing static website. This platform would provide users with a complete broadband entertainment experience that included live and On-Demand audio and video along with allowing users to interact with each other, their favourite brands and organizations in a more open and interactive way.
At the heart of every major economy is a Stock Exchange and therefore I felt it was the right time to establish a stock market for the Second Life economy.
The World Stock Exchange was established in March 2007 as an experimental fictional securities exchange and banking role playing game. This has allowed us to experiment by testing the markets response with different policies, features and services while developing and improving the underlying technology platform for its eventual intended use with a real and legally authorized Internet based securities exchange.
The market was initially based solely on businesses operating in the virtual world of Second Life and used the fictional currency in Second Life called the Linden Dollar.
The WSE has experienced tremendous growth and popularity with the first 6 months of operation a testament to its success achieving over 26000 users and exchange turnover exceeding the equivalent of W$500 million WODS, (World Dollars) at the current WOD license exchange rate this would be equivalent to around $1.8 million US Dollars.
As expected with such a new, experimental and emerging service such as WSE, the growth and development to date has not come without its challenges. Some of the challenges we experienced included false allegations and rumours distributed on blogs and in forums by banned users and virtual ceo's with motives to try and prevent the WSE's progress, false details by CEO's about their business in the virtual world, banned users and CEO's hiding their identity by creating alternative accounts to re-establish themselves, disappearing CEOs, policy changes such as a ban on gambling and banking which impacted the virtual world economy and security vulnerabilities with the WSE platform that resulted in significant false deposits or trades by a small group of users.
In December 2007 the WSE closed due to existing security risks and immediately started development on a major upgrade to the entire platform. The updated platform was named WSE 4.0 and was designed to remove previous security vulnerabilities, remove inactive users, increase server performance, functionality, the user interface and last of all, to increase our potential audience.
Due to the large scale and unique nature of the development it was very difficult to estimate the time it would take to complete the project with any certainty however we did release aspirational goals in terms of time frames.
On completion of WSE 4.0 we launched a test version of the World Stock Exchange application on the Facebook platform (WSEFA) which was designed to provide Facebook users with an educational and entertaining stock market application within the Facebook environment.
The WSEFA provides the WSE with access to an online community of over 300 million people, many of which have never used online trading platforms or invested in stock markets directly due to the costs associated with participating in real stock markets. WSE provides the general public with an opportunity to understand the basic concepts of stock markets and investment. WSE will empower its users with the basic knowledge required to invest in real stock markets with confidence.
Growth of our application on Facebook was limited due to a limit on the number of friends each Facebook user could invite to the application within a 24 hour period.
In August 2008 the WSE was again closed for major upgrades which were the result of the lessons learned from user activity and feedback regarding WSE 4.0.
The new platform is WSE 4.5 and consists of changes with the database structure, removed announcement, transaction and trading data prior to WSE 4.5 to ensure a clean database and the ability to identify future bugs, new virtual currency integration system, new trading views, administration system, updated application on Facebook and site layout.
All companies on the WSE have been re-structured to operate effectively on the WSE and to provide all WSE users with an opportunity to learn have fun and profit.
We have launched two virtual investment funds on the WSE called the World Economic Recovery Fund (WEF) and the Jai Ho Fund (JHO). These funds are designed to provide market participants with the most realistic simulated trading experience as each fund is based on the activities of stock markets, economic policies and markets in India, China, USA and others.
The WSE has integrated and replaced previous virtual currencies with a new universal virtual currency called the World Dollar (WOD, W$). The World Dollar is operated by the World Currency Exchange (WCE) which is owned by World Dollar Corporation Pty. Ltd., a subsidiary of Hope Capital Pty. Ltd.
We believe the World Currency Exchange will be the virtual currency of choice by Internet users around the world due to its fast, stable and secure virtual currency platform.
The team and I would like to thank all our existing users for their patience and continued interest and support for the WSE.
Despite many challenges and delays, I have the privilege of declaring the World Stock Exchange a new and unique Internet startup now open for business to the World!
We invite you all to buy shares in the World Stock Exchange (Code: WSE) and to share in our medium to long-term growth and future profits moving into 2010.
Kind Regards,
Luke Connell,
Chairman & CEO
I joined the virtual world of Second Life at the start of December 2006 and within the first week I was convinced that virtual worlds especially Second Life will provide an extended platform to the existing static website. This platform would provide users with a complete broadband entertainment experience that included live and On-Demand audio and video along with allowing users to interact with each other, their favourite brands and organizations in a more open and interactive way.
At the heart of every major economy is a Stock Exchange and therefore I felt it was the right time to establish a stock market for the Second Life economy.
The World Stock Exchange was established in March 2007 as an experimental fictional securities exchange and banking role playing game. This has allowed us to experiment by testing the markets response with different policies, features and services while developing and improving the underlying technology platform for its eventual intended use with a real and legally authorized Internet based securities exchange.
The market was initially based solely on businesses operating in the virtual world of Second Life and used the fictional currency in Second Life called the Linden Dollar.
The WSE has experienced tremendous growth and popularity with the first 6 months of operation a testament to its success achieving over 26000 users and exchange turnover exceeding the equivalent of W$500 million WODS, (World Dollars) at the current WOD license exchange rate this would be equivalent to around $1.8 million US Dollars.
As expected with such a new, experimental and emerging service such as WSE, the growth and development to date has not come without its challenges. Some of the challenges we experienced included false allegations and rumours distributed on blogs and in forums by banned users and virtual ceo's with motives to try and prevent the WSE's progress, false details by CEO's about their business in the virtual world, banned users and CEO's hiding their identity by creating alternative accounts to re-establish themselves, disappearing CEOs, policy changes such as a ban on gambling and banking which impacted the virtual world economy and security vulnerabilities with the WSE platform that resulted in significant false deposits or trades by a small group of users.
In December 2007 the WSE closed due to existing security risks and immediately started development on a major upgrade to the entire platform. The updated platform was named WSE 4.0 and was designed to remove previous security vulnerabilities, remove inactive users, increase server performance, functionality, the user interface and last of all, to increase our potential audience.
Due to the large scale and unique nature of the development it was very difficult to estimate the time it would take to complete the project with any certainty however we did release aspirational goals in terms of time frames.
On completion of WSE 4.0 we launched a test version of the World Stock Exchange application on the Facebook platform (WSEFA) which was designed to provide Facebook users with an educational and entertaining stock market application within the Facebook environment.
The WSEFA provides the WSE with access to an online community of over 300 million people, many of which have never used online trading platforms or invested in stock markets directly due to the costs associated with participating in real stock markets. WSE provides the general public with an opportunity to understand the basic concepts of stock markets and investment. WSE will empower its users with the basic knowledge required to invest in real stock markets with confidence.
Growth of our application on Facebook was limited due to a limit on the number of friends each Facebook user could invite to the application within a 24 hour period.
In August 2008 the WSE was again closed for major upgrades which were the result of the lessons learned from user activity and feedback regarding WSE 4.0.
The new platform is WSE 4.5 and consists of changes with the database structure, removed announcement, transaction and trading data prior to WSE 4.5 to ensure a clean database and the ability to identify future bugs, new virtual currency integration system, new trading views, administration system, updated application on Facebook and site layout.
All companies on the WSE have been re-structured to operate effectively on the WSE and to provide all WSE users with an opportunity to learn have fun and profit.
We have launched two virtual investment funds on the WSE called the World Economic Recovery Fund (WEF) and the Jai Ho Fund (JHO). These funds are designed to provide market participants with the most realistic simulated trading experience as each fund is based on the activities of stock markets, economic policies and markets in India, China, USA and others.
The WSE has integrated and replaced previous virtual currencies with a new universal virtual currency called the World Dollar (WOD, W$). The World Dollar is operated by the World Currency Exchange (WCE) which is owned by World Dollar Corporation Pty. Ltd., a subsidiary of Hope Capital Pty. Ltd.
We believe the World Currency Exchange will be the virtual currency of choice by Internet users around the world due to its fast, stable and secure virtual currency platform.
The team and I would like to thank all our existing users for their patience and continued interest and support for the WSE.
Despite many challenges and delays, I have the privilege of declaring the World Stock Exchange a new and unique Internet startup now open for business to the World!
We invite you all to buy shares in the World Stock Exchange (Code: WSE) and to share in our medium to long-term growth and future profits moving into 2010.
Kind Regards,
Luke Connell,
Chairman & CEO