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World Stock Exchange

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World Stock Exchange
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Company typeStock exchange Owned by Hope Capital Pty.Ltd.
IndustryFinance
FoundedAustralia Melbourne, Australia (2006)
HeadquartersHope Capital Island, Second Life
Key peopleLuke Connell, Chairman and CEO
ProductsStock quotation, stock trading services, banking, virtual office space rental
RevenueIncrease L$ 18.53 million (2007 till October 2)
Net incomeIncrease L$ 8.36 million (2007 till October 2)
Number of employeesUnknown
Websitehttps://www.wselive.com

The World Stock Exchange, is a web-based fictional securities exchange developed using Ruby on Rails. The WSE enables virtual companies to raise capital while providing a chance for investors to build their wealth using the fictional Linden Dollar and World Internet Currency that can be sold for real US Dollars.

Though this seemed a revoluntionary idea, corruption was ever prevalent. None of the companies on the exchange are ever screened to see if they are real companies or just shells(Many of the companies turned out to be shells). Also, WSE's involvement with the Ginko bank bust shows unquestionable evidence that the WSE is corrupted itself. Moreover, the owner of this company has taken out hefty paychecks for himself and inner circle people.

The World Stock Exchange began normal operations on March 7th 2007 and to date has achieved 25,000 user accounts, raised virtual businesses over L$145 million Linden Dollars and total Exchange Turnover exceeding L$480 million.

The WSE is well-established in the virtual world of Second Life and initially used the Linden Dollar currency in Second Life. In July 2007, the WSE completed the integration of a new fictional currency independent of Second Life called the World Internet Currency (WIC).


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