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New perspective on EVE Online's latest bank embezzlement
EVE Online is a deep sandbox game with the most complex player-driven economy found in any massively multiplayer title. There's enough depth, in fact, that players can establish their own financial ventures in-game, in the forms of bonds and IPOs, and even institutions like banks. However, EVE Online is a game where some players create while others undermine or outright destroy. Trust is a valuable and rare commodity in EVE's setting of New Eden; there are always risks of deception and betrayal. But those willing to take risks are generally the ones who are most successful. Of the player-run banks presently operating in the game, EBANK has billed itself as "the largest financial entity ever seen in EVE."The secrets of its success? A solid Board of Directors and knowledgeable staff, various safeguards preventing any one individual from accessing all bank assets and, yes, some of that rare commodity called trust.That trust was damaged recently though, when EBANK's (now-former) CEO Ricdic, well-known to the game's playerbase, embezzled the virtual funds he was entrusted with. Although this is permissible by EVE's developers CCP Games, selling in-game currency for real-world cash is not. Ricdic has been banned from the game but his actions triggered a run on the virtual bank, and have shaken the faith many players have in EBANK. Massively spoke about the incident with LaVista Vista, a former member of the game's Council of Stellar Management who sits on the Board of Directors of this virtual bank in EVE; he also provides commentary and analysis of virtual worlds and EVE on the Eveconomics blog. LaVista told us about the parallels that can be drawn between a banking crisis in the virtual galaxy of New Eden and that of the real world, and how what happens in a game can impact real lives.
New perspective on EVE Online's latest bank embezzlement part two
We read about these things happening periodically, an EVE player pulls a runner with some huge amount of ISK and all sorts of drama ensues. It makes me wonder, what has the real life impact of this theft been on those of you involved with EBANK?If you are to trust the forum trolls, EVE is JUST a game. But having spent 2 years on this project, real-life money and a lot of sweat and tears, it hurts to see EBANK's name being dragged through the mud, and putting up with the drama. It of course causes a huge amount of real-life stress, and makes you wonder about a few things. I even almost managed to miss 2 exams, due to having to deal with this. But it also gave us the opportunity to realize just how many people EBANK have helped.2% of EVE's playerbase has an EBANK account, and we came to be the biggest investment venture in EVE, peaking at 2.5 TRILLION ISK. That, to me, is a pretty big thing, which I'm proud to take part in. But I can't answer this question on my own, hence here's my new CEO's take on it:
EVE Online's largest player-run bank rocked by embezzlement
We've just gotten word that EBANK, a player-run bank in EVE Online self-described as "the largest financial entity ever seen in EVE" has been rocked by embezzlement from its own CEO, Ricdic. The former CEO stole roughly 200 billion ISK from EBANK, which is roughly 8.6% of the entire 2.3 trillion ISK that EVE's playerbase has deposited. EBANK chairman Hexxx has issued a statement on the game's official forums, stating that Ricdic has been banned by CCP Games for engaging in RMT, also adding that the former CEO "has scammed." The loss of nearly 9% of EBANK's deposits is a serious blow to the player-run institution, perhaps as much to investor confidence in the bank as it is to their funds, but Hexxx says their liquidity is still between 400 billion and 500 billion ISK. A June 6th news item on the EBANK site written by bank auditor LaVista Vista states, "We are currently experiencing some technical problems. Therefore, we ask that people do not deposit any ISK, until we have solved the problem." EBANK's director and head teller Athre has now assumed the role of interim CEO, as the EBANK staff determines the best way forward from here.
Call for candidates in EVE Online's player-elected Council of Stellar Management
Lost in the blitz of info about the Apocrypha expansion for EVE Online was the fact that CCP Games announced a call for candidates for the 3rd Council of Stellar Management (CSM). The CSM is a council of representatives of the playerbase, elected by the players themselves, who work with CCP Games to ensure that the development pipeline reflects the interests of the subscribers. Being a CSM delegate can be both time-consuming and stressful, as past and present reps Jade Constantine and LaVista Vista have told us. Still, it offers players a chance at helping to shape the game they love, something which few other MMO developers would ever allow. Already on the CSM's radar for the next group of delegates is reworking (lawless) 0.0 space and its entrenched system of sovereignty, which is no small task.
EVE Community Spotlight: LaVista Vista
The idea of players being elected as representatives of the subscriber base is a dimension to EVE Online that sets it apart from all other MMOs. This player-elected Council of Stellar Management works with the sci-fi title's developer, CCP Games, to ensure that the game design and balancing of EVE Online reflects the interests of the subscribers. Player politics related to a divisive community of gamers can be complicated, however. Since its inception, the Council of Stellar Management has faced intense criticism and no small amount of skepticism about how effective they will ultimately be. In other words -- EVE's Council of Stellar Management is a fairly accurate simulation of how the public reacts to real-world governance. Still, some of the original CSM delegates chose to stick it out and seek re-election for a second term. One of those delegates, now in his second term in office, is LaVista Vista. He's well-known to the EVE community for his level-headed approach to balancing the game and his experience with the different 'walks of life' of EVE's playstyles. These qualities make him an ideal representative of the interests of the players themselves and it came as little surprise that he was re-elected. Massively recently caught up with LaVista Vista, who was happy to discuss some of his experiences as a dedicated EVE player as well as a Council of Stellar Management representative.
EVE Community Spotlight: LaVista Vista part 2
The first CSM seemed to have a very difficult job, given that they had to structure their operating guidelines as they went, and of course deal with skepticism from the playerbase. Do you think the situation is different for the CSM now? Vastly different. A lot of time during CSM1 was spent on administrative stuff which was often inefficient. We now have a structure which works fairly well, even if it leaves some things to be desired. We are yet to reach our max potential, which won't happen for another few CSMs I'm afraid. But CCP has certainly realized that the CSM is a useful concept and is useful for them. I think in the future we will see more tools for the CSM being implemented as Xhagen manages to tie up enough people at the office so that they will commit to doing these things which will benefit the CSM and community. Once we have streamlined ways of doing things, while leaving us room for being creative, there's immense potential for a CSM which will not only work great while people who have experience with being on it, but once an ENTIRELY new set of people take office and start working with this foundation that is built. Continuity is EXTREMELY important. The idea that an entirely new set of people will take office and there's no real guidelines or continuity gives me nightmares. That's why I think it's important that CCP in the future is even more helpful towards the CSM and that there is more communication. We have build a solid foundation for now. However it's not hard to tear down if people aren't taking responsibility.
A look at virtual banking in EVE Online
EVE Online is set apart from most MMOs out there in that players find ways to establish and run large financial ventures within the game. What's interesting is that although such initiatives aren't developer-supported, players still put together banks, IPOs, and other types of investments peripherally to EVE and its game mechanics. The sandbox nature of the game paired with EVE's API allow for ventures of this sort. Dynasty Banking is one choice that players have that's been turning heads of late, but EBANK is the focus of a recent EVE-Tribune piece. EBANK has accrued over one trillion ISK and over 2750 customers, making it -- according to their 2007-2008 annual report -- "the largest financial entity ever seen in EVE." EVE Tribune had a chance to interview EBANK's LaVista Vista (real name: Charlie Eriksen), who is also a newly re-elected delegate of EVE's player representative body, the Council of Stellar Management. The EVE Tribune piece written by FinnAgain kicks off with one hell of a caveat in the form of a direct quote from one of their staff writers, but it's a good way to begin, particularly given the problems that have been seen in the past with banks in EVE Online. The interview focuses on the policies and safeguards in place to keep any individual working at EBANK from absconding with vast amounts of player-invested ISK, but LaVista Vista also discusses how EBANK puts all that isk to use, and their future plans to establish a stock exchange. If you're interested in the economic side of an MMO, the EBANK interview at EVE Tribune is a good look at what players can accomplish on their own within a virtual economy.
EVE's Council of Stellar Management elections end tomorrow
Tomorrow is the last day for EVE Online players to cast their vote for the Council of Stellar Management (CSM) candidates. Members of the player-elected council act as representatives of the playerbase, bringing issues with the game before the developers and working towards keeping EVE Online a game that reflects the interests of those who play it.EVE's Council of Stellar Management is one of the first significant implementations of a democratic process impacting both the players and developers of an MMO. Other titles and developers have taken smaller steps towards this in the past, but the first CSM was a first for the industry as well.
