Editing Tencent QQ (section)

==QQ Coin==
The QQ Coin is a [[virtual economy|virtual currency]] used by QQ users to "purchase" QQ related items for their [[Avatar (computing)|avatar]] and [[blog]]. QQ Coins are obtained either by purchase (one coin for one [[Renminbi|RMB]]) or by using the mobile phone service. Due to the popularity of QQ among young people in China, QQ Coins are accepted by online vendors in exchange for "real" merchandise such as small gifts.<ref>{{Cite web|url=https://www.wsj.com/articles/SB117519670114653518|title=QQ: China's New Coin of the Realm?|last1=Fowler|first1=Geoffrey A.|last2=Qin|first2=Juying|date=30 March 2007|website=The Wall Street Journal|access-date=10 September 2017|archive-url=https://web.archive.org/web/20170822163537/https://www.wsj.com/articles/SB117519670114653518|archive-date=22 August 2017|url-status=live}}</ref> This has raised concerns of replacing (and thus "inflating") real currency in these transactions.

The [[People's Bank of China]], China's central bank, tried to crack down on QQ Coins due to people using QQ Coins in exchange for real world goods.<ref>{{cite web |url=http://english.people.com.cn/200701/12/eng20070112_340681.html |title=People's Daily Online - Central Bank alert on "virtual money" |publisher=English.people.com.cn |date=2007-01-12 |access-date=2011-01-14 |archive-url=https://web.archive.org/web/20100916192748/http://english.people.com.cn/200701/12/eng20070112_340681.html |archive-date=2010-09-16 |url-status=live }}</ref><ref>{{Cite web|url=https://www.abacusnews.com/big-guns/libra-digital-coin-just-facebooks-version-tencents-qq-coin/article/3015226|title=Is the Libra digital coin just Facebook's version of Tencent's QQ coin?|website=Abacus|date=19 June 2019|access-date=2020-03-15|archive-date=2019-12-07|archive-url=https://web.archive.org/web/20191207185936/https://www.abacusnews.com/big-guns/libra-digital-coin-just-facebooks-version-tencents-qq-coin/article/3015226|url-status=live}}</ref> However, this only caused the value of QQ coins to rise as more and more third-party vendors started to accept them.<ref>{{Cite web|url=https://qz.com/1663249/chinas-tencent-launched-qq-coin-before-long-facebooks-libra-cryptocurrency/|title=Tencent created QQ Coin long before Facebook's Libra|last=Silva|first=Matthew De|website=Quartz|date=11 July 2019 |language=en|access-date=2020-03-15|archive-date=2021-01-05|archive-url=https://web.archive.org/web/20210105195256/https://qz.com/1663249/chinas-tencent-launched-qq-coin-before-long-facebooks-libra-cryptocurrency/|url-status=live}}</ref> Tencent claims the QQ Coin is a mere regular commodity, and is, therefore, not a currency.<ref>{{cite web |url=http://news.xinhuanet.com/english/2007-02/12/content_5730970.htm |title=Virtual currency requires tough new regulations |publisher=News.xinhuanet.com |date=2007-02-12 |access-date=2011-01-14 |archive-url=https://web.archive.org/web/20111220173539/http://news.xinhuanet.com/english/2007-02/12/content_5730970.htm |archive-date=2011-12-20 |url-status=dead }}</ref>