Virtual Interactions

Although online gaming is hugely popular, it is different from person-to-person socializing. But just as with a book club, playing a board game, or even going to work, the online game is an opportunity, an excuse even, to socialize in a community sharing an experience. Sociologists make the point that going to a conference is only partly about the presentations; in reality, it is about the coffee, the chat, the jokes, the friendships, and the contacts you can make. A final thought for banks or for anybody suggesting business interactions can be virtual . Apple was the first computer company to open its own stores. Face-to-face interactions matter for consumers but also for brands and businesses. This is a salutary lesson for banks that they should be closing branches. In the commercial world, analog products exist when they add value and deliver something the digital world misses. Central banks need to consider carefully the balance of physical and digital.