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IDK how IBM does it but they can sense when someone is going to ask a question like this. :-)
They just sent out a refresher email about "Informational / IBM i" which had the section below. The link discusses this virtual serial number.

1. IBM i: Product information and publications

- TITLE: IBM i License topics
- URL: https://www.ibm.com/support/pages/node/718251?myns=ibmi&mynp=OCSWG60&mync=E&cm_sp=ibmi-_-OCSWG60-_-E
- ABSTRACT: This page has information and links on a variety of IBM i related topics, including IBM i Entitlement Transfer, backup licensing on IBM i, Service Provider topics, support topics, and more.

Rob Berendt

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