Analysis Of Virtual Money On Issuance, Circulation, Withdrawal Mechanisms Under The Background Of Network Economy

With the bloom of internet, virtual products and add-value services become more and more popular and a new phenomenon, virtual money has came long. Different kinds of virtual moneys are coming out. Their impact and popularity become more and more significant and gain much attention from both society and academia. Most recently, lots of experts trying to define and research the virtual money from the aspects of sociology, economics and law. In this paper a systematic model is built for virtual money's issuing, circulating and withdrawing. By analyzing the nominal and real variables for both virtual world and real world, such as exchange rate, price index and money supply, we study the virtual money's impacts. Furthermore, we discuss the mechanism of circulation expansion, official reverse exchange as the possible way to withdraw virtual money.We first illuminate the importance of this research. Then we deeply discuss virtual money's definition, characteristic and function and make the comparison between them and those of real money and electronic money, figuring out the intrinsic points of virtual money. Furthermore, we survey the current situation of virtual money in Chinese market with the highlight on Q-Bi from Tencent Co. Ltd..We formalize the issues of virtual money into the framework of real money researching. By modeling and numerical analysis, we come up with virtual money's impact to macro and micro economy. We also model virtual money's withdrawing mechanism, figure out the feasibility of circulation expansion and official reverse exchange. At the end of this thesis, we layout some advices as for the future study.