Kim-Mai Cutler reports that Whuffie Bank wants to build a virtual currency based on reputation that can be redeemed for goods and services.
Whuffie is based on the currency in Cory Doctorow’s novel “Down and Out in the Magic Kingdom” where goods are abundant and scarcity has ended.
To use the app, log-in using Twitter and Facebook, and The Whuffie Bank assigns you a ranking and a number of “Whuffies” based on your network.
For example, the more retweets you get, the higher your reputation becomes or the more followers you have, the “richer” you become.
Venturebeat: http://digital.venturebeat.com/2009/09/15/tc50-whuffie-bank-wants-a-new-currency-based-on-social-reputation/
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