1.1 Technology/Trend DefinitionSecond Life: It is a 3D virtual world based on the Internet. It is the place where people can experience a new life by meeting new people, exchange goods and services with their own currency and all other social networks through their own avatars.1.2 Main general characteristics of the technology/trend for businessesSecond Life is not just a game it is the place where businesses can sell their goods and services to its residents. 1.3 Sector Definition (Banking, Insurance and Financial Services) We can experience frontier capitalism and we can actually make money. We can test new banking and financial services or learn these systems. Since it is a programmed web reality, we can analyze what will happen if we implement a new system in the real world and what will be the risks and benefits we can get from it. 2.1 Assessing the potential business benefit (B) and risk (R) of the technology to the sector Potential business benefit B5Potential business risk R32.2 Potential business benefit/risk – Discussion4 million people are in the SL, businesses can use this virtual world as a new business opportunity. By selling their products, they can also test or promote activities such as brand marketing, organizing events, training and simulations. In SL there are manufacturers and brands such as Microsoft, Adidas and much more. These companies were not created specifically for SL but they were involved in this virtual world. Banking, insurance and financial services are not heavily involved in this virtual world, but if they are, there will be benefits and risks. Banking and financial services can promote their brand through SL, for example, they can set up a business in SL and residents. will use their services and as a result the reputation will increase and companies will also be able to test their new products such as new banking products or insurance products and analyze the result to apply it to the real world. But since SL was first introduced in 2002, the number of residents will continue to increase over time. Therefore, the benefits they can expect for now are not much, but a few years later the SL market will become much bigger and there will be many more business opportunities. However, there are potential risks for businesses as well as benefits. Although SL is a virtual world, businesses will still need installation and operation costs, these expenses will be much lower than the real world, but if these businesses fail to satisfy the residents of SL, the reputation and the brand will be at a disadvantage..