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A virtual economy is an emergent economy existing in a virtual world, usually exchanging virtual goods in the context of an online game, particularly in massively multiplayer online games (MMOs). People enter these virtual economies for recreation and entertainment rather than necessity, which means that virtual economies lack the aspects of a real economy that are not considered to be "fun". However, some people do interact with virtual economies for "real" economic benefit.
Temporary work or temporary employment refers to an employment situation where the working arrangement is limited to a certain period of time based on the needs of the employing organization. Temporary employees are sometimes called "contractual", "seasonal", "interim", "casual staff", "outsourcing", "freelance"; or the words may be shortened to "temps". In some instances, temporary, highly skilled professionals refer to themselves as consultants. Increasingly, executive-level positions are also filled with interim executives or fractional executives.
Freelance, freelancer, or freelance worker, are terms commonly used for a person who is self-employed and not necessarily committed to a particular employer long-term. Freelance workers are sometimes represented by a company or a temporary agency that resells freelance labor to clients; others work independently or use professional associations or websites to get work.
Digital currency is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic computer database owned by a company or bank, within digital files or even on a stored-value card.
The Oxford Internet Institute (OII) serves as a hub for interdisciplinary research, combining social and computer science to explore information, communication, and technology. It is an integral part of the University of Oxford's Social Sciences Division in England.
Edward "Ted" Castronova is a professor of media at Indiana University Bloomington. He is known in particular for his work on the economies of synthetic worlds.
A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions. Smart contracts are commonly associated with cryptocurrencies, and the smart contracts introduced by Ethereum are generally considered a fundamental building block for decentralized finance (DeFi) and NFT applications.
Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically." A digital currency issued by a central bank is referred to as a central bank digital currency.
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities are being transformed by the Internet and World Wide Web technologies.
Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that requires increasing quantities of electricity and guarantees the security of the bitcoin blockchain.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Blockchain.com is a cryptocurrency financial services company. The company began as the first Bitcoin blockchain explorer in 2011 and later created a cryptocurrency wallet that accounted for 28% of bitcoin transactions between 2012 and 2020. It also operates a cryptocurrency exchange and provides institutional markets lending business and data, charts, and analytics.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Since each block contains information about the previous block, they effectively form a chain, with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
Digital labor or digital labour represents an emergent form of labor characterized by the production of value through interaction with information and communication technologies such as digital platforms or artificial intelligence. Examples of digital labor include on-demand platforms, micro-working, and user-generated data for digital platforms such as social media. Digital labor describes work that encompasses a variety of online tasks. If a country has the structure to maintain a digital economy, digital labor can generate income for individuals without the limitations of physical barriers.
The platform economy is economic and social activity facilitated by platforms, typically online sales or technology frameworks. Platform businesses control an increasing share of the world's economy and sometimes disrupt traditional businesses.
Gig workers are independent contractors, online platform workers, contract firm workers, on-call workers, and temporary workers. Gig workers enter into formal agreements with on-demand companies to provide services to the company's clients.
The iLabour Project is a research project at the Oxford Internet Institute funded by the European Research Council and led by the Finnish economic sociologist and Internet researcher Vili Lehdonvirta.
The Online Labour Index (OLI) is an economic indicator measuring the activity of the global online gig-economy. It was created and is administered by the researchers Otto Kässi, Vili Lehdonvirta, and Fabian Stephany, at the Oxford Internet Institute, University of Oxford.
The general notion of cryptocurrencies in Europe denotes the processes of legislative regulation, distribution, circulation, and storage of cryptocurrencies in Europe. In April 2023, the EU Parliament passed the Markets in Crypto Act (MiCA) unified legal framework for crypto-assets within the European Union.
References
- ↑ "Professor Vili Lehdonvirta — Oxford Internet Institute". www.oii.ox.ac.uk. Retrieved 2024-03-01.
- ↑ Batmunkh, Altanshagai; Fekete-Farkas, Maria; Lakner, Zoltan (2022). "Bibliometric Analysis of Gig Economy". Administrative Sciences. 12 (2): 51. doi: 10.3390/admsci12020051 .
- ↑ "iLabour project".
- ↑ "Labour markets' effects in rural areas".
- ↑ "iLabour; crowdworkers' skill development".
- ↑ Lehdonvirta, Vili (2022). Cloud Empires: How Digital Platforms Are Overtaking the State and How We Can Regain Control. MIT Press.
- ↑ "Senior Research Fellow's book makes final of AAP PROSE Awards". 13 February 2023.
- ↑ Vidan, Gili; Lehdonvirta, Vili (2019). "Mine the gap: Bitcoin and the maintenance of trustlessness". New Media & Society. 21: 42–59. doi: 10.1177/1461444818786220 . S2CID 58008386.
- ↑ "Blockchain blog".
- ↑ Lehdonvirta, V and Castronova, E (2014). Virtual Economies: Design and Analysis. MIT Press.
{{cite book}}: CS1 maint: multiple names: authors list (link) - ↑ "The political geography of AI infrastructure".
- ↑ lucasge (2018-09-26). "Expert group to the EU Observatory on the Online Platform Economy". Digital Single Market - European Commission. Retrieved 2020-02-06.
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