May 29, 2011

Facebook Nation: The Cashless Society Game

Facebook Nation: The Cashless Society Game

"Facebook is changing the world, again!"

Facebook Nation
The world already welcome the concept of the Facebook, as a huge digital database which contains virtually all of our private information. 

Now Facebook is taking a step further to virtually and literally change the global financial structure.

The Facebook Nation

Right now, it is a global reality that you and most of the people you know are, in one way or another, citizens of the Facebook Nation.

The Facebook's success in capturing a near global monopoly has now given it the ability to dictate an economic structure to its user. Whether they are producers or consumers, means that they are controlling both the upper and lower loops of their virtual economy.

The success of Facebook also positioned them in the rolls of banker, retailers and governor

According to the news release on Marketing Week, "Every social game developer on Facebook will have to offer the social network’s virtual currency credits by 1st July 2011 as the scheme comes out of beta."

Therefore, every game developers on Facebook will have to implement Facebook Credits as a payment method within their games. The games industry alone already accounts for 70% of the virtual transactions on the site.

We may see what appears on the surface as a simple online marketing tool to help Facebook in embracing larger niche market share.
But the true consequences to their hundreds of millions of users is that Facebook have effectively achieved the role as a pioneer on envisioning a world without cash. The cashless society is already here.

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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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