[p2p-research] P2P Milestone of the Day 16/8/2009: Launch of Whuffie Bank

[Michel Bauwens]

Whuffie Bank rewards reputation and online
generosity<http://blog.p2pfoundation.net/?p=4970>
[image: photo of Michel Bauwens]Michel Bauwens
17th September 2009

 The Whuffie Bank is a nonprofit organization dedicated to building a new
currency based on reputation that could be redeemed for real and virtual
products and services. The higher your reputation, the wealthier you are.

I really like this Whuffie Bank initiative <http://www.thewhuffiebank.org/>,
it looks well implemented and easy to use. It may one day help people like
myself and others who share their knowledge online. The fact that retweets
automatically count in building up your reputation, and does lightens
personal efforts, is a great start for building in automated mechanisms.

I joined here <http://thewhuffiebank.org/mbauwens>, and gave my first 3
whuffies to Glyn Moody, Carolina Botero and Trebor Scholz, as they were
listed in the retweet overview.

*Jason Kincaid<http://www.techcrunch.com/2009/09/15/tc50-meet-the-whuffie-a-new-currency-thats-based-on-your-online-reputation/>
:*

*“It’s a sad fact of life that many of the most insightful and helpful
people on the web (and in real life, for that matter) aren’t financially
rewarded for their efforts — they may well be satisfied with the good
they’ve done, but that doesn’t help to pay the rent. The Whuffie Bank, a new
non-profit organization that’s launching today at TechCrunch50, wants to fix
this by launching a new currency that rewards people for their positive
contributions on the web.*

*The startup is hoping to promote change in the web by rewarding users with
a positive impact on the web with this karma-like digital currency. The
service will monitor your activity across various websites, including things
like comments, posts, and more. When you complete positive actions, you gain
Whuffies, and you lose them when you do something that the organization
deems to be detrimental. The company hopes that as we use the web more and
more in our day-to-day life this positivity will extend beyond the web.*

*To get started you enter your username on Twitter (Facebook support will be
coming). The site displays how many Whuffies you have, along with a graph of
your progress over time. The site ranks its users by Whuffies, in the hopes
of helping surface the top users in different fields.*

*The algorithm takes into account ‘public endorsements’, or the number of
times a user’s tweets are retweeted, or a Facebook post is Liked. It also
takes into account who is making the endorsement, and the content in the
messages that are being posted. You can make offers to other users using
Whuffies as payment (for example, I could ask someone to help me draw a
logo, offering 100 Whuffies as payment).”*


-- 
Work: http://en.wikipedia.org/wiki/Dhurakij_Pundit_University - Research:
http://www.dpu.ac.th/dpuic/info/Research.html - Think thank:
http://www.asianforesightinstitute.org/index.php/eng/The-AFI

P2P Foundation: http://p2pfoundation.net  - http://blog.p2pfoundation.net

Connect: http://p2pfoundation.ning.com; Discuss:
http://listcultures.org/mailman/listinfo/p2presearch_listcultures.org

Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens;
http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
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