• Journal of the Korea Society of Computer and Information
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• v.23 no.5
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• pp.41-46
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• 2018

This study focuses on the legal concept of virtual money, focusing on the case of how we can change the framework of fixed thinking about our trade concept and money with the fourth industrial revolution. The legal character of the virtual money, which played a role as a means of trading in crime, could be discussed, and the court could put it in the category of " property " as a subject of confiscation. Many people are expressing empathy for the fact that there will be many traits in the future world that are difficult to predict. At this side, when the legal validity of the advantage is not recognized as the legal money yet to be recognized as the legal currency, it begins to be discussed as a necessary means of trading between individuals, businesses and individuals. Defining a legal character can be very significant in determining policy direction related to future operations of virtual money. But to date, it is very difficult to establish the legal character of virtual money through existing legislation. Therefore, as we looked at in this case, we examined whether the property was subject to the seizure of the profits from the crime. Attention was also given to the possibility of such abuse of virtual money and whether effective legal interpretation was possible for the categories of assets subject to seizure.

• The Journal of the Korea Contents Association
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• v.18 no.7
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• pp.519-526
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• 2018

Recently, interest in virtual money has been growing. There is also a view that it is safe to pursue traditional assets, and some wealth experts are expecting positive changes in the financial society that can be diversified due to virtual money. Since the virtual money market is an immature situation and the stability of the virtual money is not yet secured, the potential risk of the transaction of the virtual money is highly likely to occur. In this study, we try to derive important priorities by deriving the evaluation factors that can contribute to the stabilization of the virtual currency in the market transaction. The main evaluation factors were selected from the viewpoint of the transaction environment, the technical viewpoint, and the profit viewpoint, and the importance of the subordinate factors was analyzed by applying AHP.

• 한국경영정보학회:학술대회논문집
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• 2007.06a
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• pp.661-666
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• 2007

MMORPG, massively multi-players in online role-playing game, is the most popular genre in online games. Because large number of players interacts with each other, virtual worlds in MMORPG are alike communities of real worlds. Moreover, players in virtual worlds trade game items with real money. This paper is to find impacts of real-money trading into real worlds, and game operators, by using two-period model between players of the game and the game operator. It was found that real-money trading benefits game operators, and there exists optimal supply of game items to maximize the profit of game operator. Moreover we found that the income disparity in real worlds could be decreased when real-money trading is allowed To support the analytical model, we used an empirical analysis using real-money trading data, and find the relationship among play time of MMORPG, transaction volume of real-money trading, and price of game items. In empirical analysis, it was found that real-money trading benefits game operators. Moreover, it was found that play time and price have positive relationship.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2018.05a
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• pp.203-204
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• 2018

In recent years, interest in various virtual currencies has been increasing, starting with bit coin, and investment and trading of virtual currencies are being activated. However, since the price of virtual money is unstable and the rate of change of the price is very large, frequent confirmation of the amount of money is required, so that virtual money investors often have to check the virtual money market. Therefore, in this paper, we expect that it will reduce the wasted time on the exchange by using the price information guidance system that collects the virtual currency price information data and express it in RGB, and only the system user can understand the data expression and support the confidentiality.

• The Journal of Information Systems
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• v.27 no.3
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• pp.43-62
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• 2018

Purpose Since the Bitcoin, which was the first virtual currency, was made at 2009, almost 1,000 virtual currencies appeared onstage in the world. Even though virtual currencies have the function of money as a medium of exchange or contract, any of those has not yet entered the commercialization stage. Instead, some of the virtual currencies show the nature of investment assets. In the case of virtual money investment, users tend to use all the information of the world because information transfer is very easy and capital movement is almost free between different countries. In addition, as the transaction sizes of virtual currencies increase, a virtual currency price is no longer independent and is likely to be affected by the prices of other virtual currencies. Therefore, it is necessary to understand the influence among virtual currency markets, which helps successful implementation of investment strategies. Design/methodology/approach This study focuses on the investment product function of virtual money and conducts the analysis using the time series model used in the financial and economic areas. In this paper, we try to analyze the return and volatility transfer effect of virtual money markets through GJR-GARCH model. Findings This study is expected to find out whether we can make market forecasts through reflecting changes in other markets. In addition, we can reduce the trial and error of user decision making by using the information on the yield and volatility transition effect derived from the research results, and it is expected to reduce the opportunity cost of users.

• International Journal of Computer Science & Network Security
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• v.23 no.2
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• pp.1-12
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• 2023

The article examines the axiological psycho-philosophical understanding of the phenomenon of money and its value role in modern society. The traditional and virtual context of the representation of the money phenomenon is considered.Following the ideas of G. Simmel, the authors consider money not only as a purely economic, but also a psycho-philosophical, cultural and social phenomenon. Money appears as a result of cultural development of the world and gradually forms a monetary culture as a space of economic and social interaction of people. Under the influence of the monetary culture of one or another historical period, the character of a person's economic activity, values and life orientations are formed. Modern money culture is often called financial civilization. Peculiarities of modern monetary culture are studied, its main features and problems are determined in the article. The problem of the peculiarities of the constructive and destructive attitude of the individual towards money is identified; a psycho-philosophical and cultural-identification typology of people is described, which is based on clinical observations and interpreted through the prism of psychoanalytic theory. The concept of money is highlighted from the standpoint of a social-psychological approach. The theoretical foundations of money's influence on the decision-making process and human behavior are also revealed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.2
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• pp.585-594
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• 2018

Virtual currencies have emerged along with new technologies such as block chain, artificial intelligence (AI), and big data. This study examines the benefits of a security-enhanced block chain resulting from individual trading, decentralized from governments, as well as the problems associated with misuse of virtual currencies. Virtual currencies, due to its anonymity, is vulnerable to financial crimes, such as ransom-ware, fraud, drug trafficking, tax evasion and money laundering. Use of virtual currencies can facilitate criminals avoid detection from investigative agencies. Government regulatory policy continues to address these concerns, and the virtual currency exchange has also announced a self-regulation proposal. However, a fundamental solution remains necessary. The purpose of this paper is to investigate the problems regarding abuse of virtual currency and to identify a practical system for transactions involving virtual currencies. However, in order to promote transactions involving virtual currencies and to institutionalize a governance system, multilateral cooperation is required. Although the restricting the use of virtual currencies regarding minors and foreign trade, as well as the introduction of a real-name system are considered promising prospects, many problems remain. Virtual currency is not a simple digital item but a method of redesigning the function of money. Coordinated efforts are needed globally to be able to further activate the positive aspects concerning the use of virtual currencies.

• The Journal of the Korea Contents Association
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• v.8 no.12
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• pp.198-206
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• 2008

The fashion in the virtual world is emerging as a new genre. Gammer in virtual community shares the avatars and space for their activities and for flourishing their virtual lives, they start to demand indispensable daily items. The gammer's demands lead to the concept of second life in the virtual world which was introduced in 2003. The trading business system is realized at the virtual world with various daily items, developed by individual programmers, through the virtual money, which may converted into real money. Particularly, fashion industry's inherent nature of snagging on-line trading is no more, now, set to ready in the virtual world let alone various daily virtual items developed by individual programmers. The purpose of this study is, focused on the virtual second life, to introduce the model of fashion business in virtual world and overall informations regarding second life business systems so as to provide the fundamental data for opening the web.3.0 era. Further various fashion items in the virtual world, developed by individual programers, will be another boost for shaping another virtual fashion business genre.

• Psychiatry investigation
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• v.15 no.12
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• pp.1181-1187
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• 2018

Objective In Korea, online board games, such as "flower cards," are played using virtual money. In contrast, Internet-based gambling (ibGambling) concerns the use of real money to gamble online. We hypothesized that online board gamers using virtual money show less risky behaviors than do gamblers who use real money, and that, in regard to psychological aspects, online board gamers are less depressed and more introverted than online gamblers are. Methods For this study, 100 online board gamers, 100 ibGamblers, 100 offline gamblers (offGamblers), and 100 age- and sex-matched healthy controls were recruited by an online research company. Gambling behavior and self-efficacy were assessed using the Korean Gambling Behavior Scale-high/low factors (KGBS-H/L) and the Gambling Abstinence Self-efficacy Scale (GASS). Additionally, introversion, depression, and mania tendency were assessed. Results Online board gamers had good intentions gaming, as evidenced by their higher KGBS-L scores than ibGamblers and offGamblers, and they showed less risky behaviors, as evidenced by their lower KGBS-H scores than offGamblers. Additionally, online board gamers were less introverted than ibGamblers and less depressed than offGamblers. Conclusion Online board gaming could be a gateway to the world of gambling (ibGambling or OffGambling). However, the higher tendency of online board gamers to engage in good intentioned gaming could help prevent online board gaming from progressing to online or offline gambling.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.22 no.5
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• pp.812-817
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• 2018

Blockchain technology removes the central system and connects each block throughout every person. This paper proposes new method to exploit the blockchain feature to apply existing donation system. In the current system, the donator does not donate to poor neighbor which means donator must have to donate some donate organization. The donator does not recognize how the donation has been spent after donation. In this case, we can solve that problem by using the blockchain where the donator can watch how the money works and everyone can browse the account history. To make a virtual fundraising box based on blockchain technology, donator sends some money at virtual account and exchanges the money to crypto-currency. Donator can use crypto-currency which is donate to poor neighbor that poor neighbor can exchanges crypto-currency to the money. Through this proposed system, the donation is managed by secure and transparent blockchain system.