VIRTUAL FINANCE
MEANING:-
Virtual Finance:-
Virtual finance is a branch of game design theory which is concerned with monetary
aspects of virtual worlds, such as massively parallel multi-user games. Like real finance,
virtual finance is concerned with issues like inflation, money forgery and convertibility of
virtual monies.
The events and seminars conducted by experts on various financial subjects give the
investors opportunity to interact not only with financial experts, but also with other
investors having similar financial goals. But, for those investors who hesitate to share their
financial situation in person or don’t have the time to visit an investment advisor, online or
virtual financial advisory services might just be the answer. By using these services, which
are available online at all times, investors can listen to experts and pose questions to them
without leaving the comfort of their office or home.
OBJECTIVES OF VIRTUAL FINANCE:-
Virtual reality in finance showed its benefit for the transfer of information and
knowledge through the concept learning from the interaction with immersive 3D
environment. Virtual finance potentially serves following objectives:
1. To minimize the need for building the physical prototypes.
2. Reflecting realism through a closer correspondence with real experience.
3. Extending the power of computer technology to better reflect “abstract”
experience.
4. To enhance the user perception and cognition about the complexity of financial
market mechanism and manifestation.
5. Developing various strategies in virtual environment to support decision making,
reduces the risk of making wrong decision in real financial trading conditions.
6. The approach improves learning that allows generating empirically driven
decision and gaining experience from a synthetic world close to reality.
7. The added value of using virtual reality in modeling financial market is its
advanced visualization technique and metaphoric representation that mimic real
world situations. Immersive multisensory interaction that includes vision,
spatialized audio and haptic sensation provides the user with the illusion of being
in real financial market.
Despite the added value of virtual reality approach in financial trading, in terms of the
improved user perception of the financial market activities and of the role of the dealer in
manipulating the true price of a security, the isolation of the user from the real world and
the constrained interaction makes the experience lived by the user not sufficiently realistic.
CHALLENGES FACED BY VIRTUAL FINANCE:-
As per current scenario, Virtual finance is facing various challenges which includes
