Matrix technology, developed in 2015 by Alfred Senley, was the three dimensional virtual reality network that fueled Withmore City's growth and power in the global market for over 50 years. In 2072, a simple typo in a self-updating routine embedded in the matrix source itself allowed a bank heist to take place that nearly bankrupted the city-state. In an unanimous vote by the corporate council, use of matrix software was outlawed, except for closed, private systems and sales of matrix software to the outside world. Thus, the city heavily restricted the very technology that had been responsible for so much of its success.
Immediately, several start-ups moved to fill the void left by the matrix ban. GlobalNet, GridMagic, and several other groups designed simpler, more secure systems. When it came to consumer needs, GridMagic quickly garnered the largest share of users, bringing fortune to the young company. In the spring of 2082, New Light Media purchased GlobalNet, rebranding its touch-screen based access device as the NLM QuickTerm. At the same time, NLM moved on GridMagic, first licensing and then buying out-right its services. Tweaked and rebranded as the 'Gridworks', NLM released its consumer service for free to the population, allowing advertisers to sponsor content and quickly monetizing the sudden rebirth of city-wide access and organic growth of their grid.
Rumors of an impending vote on matrix technology by the ruling corporate council increased the stock value of research undertaken by TekSoft. Formed to coordinate the experimental reintegration of matrix technology into Withmore's corporate systems, TekSoft made big waves and garnered rave reviews by hi-tech experts throughout the corporate sector.
At the same time, rumors also suggested a new upgrade to the Gridworks by New Light Media. Little is known, but the words 'Matrix Killer' managed to circulate.
This was reasonably common knowledge as of December 2088 in Withmore.