Virtual currency schemes – the future of financial services
Purpose – The purpose of the paper is to determine the future role of virtual currencies. This paper indicates their pros and cons as alternatives to “real” money and explains their appearance as the reflection of the present trends. It also presents the possible scenarios of their development. Design/methodology/approach – The paper is based on the former foresight research results and literature review. It highlights the main trends in contemporary economy and their impact on financial services. The Bitcoin case is the starting point for the virtual currencies’ market analysis and construction of possible market changes scenarios. Findings – Virtual currency schemes are the reflection of present trends. They are just ahead of our times but may become a common means of payment, changing the way of providing financial services, eliminating intermediaries and marginalizing the role of financial institutions. Research limitations/implications – The multiplicity of virtual currencies and ceaseless introducti...
Digitally possessed
Virtual possessions play an increasingly important role in our daily lives. How we think about them and deal with them is changing the way we think and interact with others.
Creating the Virtual Universe
Simulation software is important to our understanding of the universe. The intrinsic multiphysics aspects are spiced with a range of temporal scales and spatial scales, both of which cover more digits than are available in the standard hardware. This, together with the intrinsic chaotic nature of many physical processes, poses quite a challenge. To meet this challenge, researchers developed the Astronomical Multipurpose Environment (AMUSE). Instead of writing a suite of multiphysics solvers from scratch, AMUSE's developers coupled existing solvers for each physical ingredient. The result is a highly inhomogeneous collection of dedicated solvers with a homogeneous protocol that scales to supercomputers.