The Whuffie Bank: Reputation-Based Currency

The Whuffie Bank is a real-world non-profit startup that is dedicated to building a new currency based on reputation. According to their website, the "value of your Whuffie is "obtained from your online reputation by tracking your interactions with social networks and the feedback from your contacts."

The site just launched yesterday as part of the TechCrunch50, one of the top fifty new Internet companies as determined by the well-known site TechCrunch.


(The Whuffie Bank video)

When you enter your Facebook or Twitter name, you will see a graph describing your Whuffie Salary. Your friends and followers are also listed. Whuffie can be transferred between users either on the site or on Twitter, with special codes.

How is Whuffie calculated?

Our work consists on improving the calculation of whuffie to properly represent a value for reputation. The Whuffie Bank won't take into consideration popularity or influence, although these variables may help to increase the whuffie of a person. The algorithm currently considers these aspects:
1, Detects Public Endorsements — Each time a message you put on Twitter gets retweeted or a Facebook post gets liked by others, that's considered a positive endorsement for you.
2. Measures Level of Influence — A person that's constantly retweeting others will be spreading the impact of his influence among many people. On the other side, if a person retweets a message once in a while, that will have a bigger impact.
3. Considers Existing Reputation of Members — Being endorsed by a Whuffie-rich person will have a stronger impact than being endorsed by an average user.
4. Analyzes Content of Messages — A message with a link that gets retweeted usually it's because of the content in a website rather than the person sharing it in the first place. So when someone gets retweeted for something they exclusively said, that will have a bigger impact on the algorithm.

At this point, it's not clear whether or not your Whuffie "salary" will result in actual dollars, or other hard offline currency.

As The Whuffie Bank's site FAQ makes clear, the term whuffie was coined by Cory Doctorow in his 2003 novel Down and Out in the Magic Kingdom.

Whuffie recaptured the true essence of money: in the old days, if you were broke but respected, you wouldn't starve; contrariwise, if you were rich and hated, no sum could buy you security and peace. By measuring the thing that money really represented — your personal capital with your friends and neighbors — you more accurately gauged your success.

Fans of sf Grandmaster Jack Vance also recognize the concept of strakh from his 1976 short story The Moon Moth.

Check your account at The Whuffie Bank; via TechCrunch.

Scroll down for more stories in the same category. (Story submitted 9/16/2009)

Follow this kind of news @Technovelgy.

| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |

Would you like to contribute a story tip? It's easy:
Get the URL of the story, and the related sf author, and add it here.

Comment/Join discussion ( 4 )

Related News Stories - (" Culture ")

Project Dylan - Amazon's Voice-Activated Wearable That Recognizes Human Emotions
Life imitates anime art.

Kazahk Ironist Protester Arrested For Blank Sign Protest
'...a man carried a white rectangular sign, blank on both sides.' - Larry Niven, 1972.

Bitcoin Surges Again, To $7,000
'... electronic, private cash, unbacked by any government, untraceable, completely anonymous.' - Bruce Sterling, 1994.

North Sea Stone Age Reconstruction And Philip K Dick
'Your Dip digs back into antiquity. Rome. Greece. Dust and old volumes.' - Philip K Dick, 1954.

 

Google
  Web TechNovelgy.com   

Technovelgy (that's tech-novel-gee!) is devoted to the creative science inventions and ideas of sf authors. Look for the Invention Category that interests you, the Glossary, the Invention Timeline, or see what's New.

 

 

 

 

 

Current News

Miners! NASA Wants To License RASSOR Excavator
'The borers had been dismantled and packed away.'

Bee+ Robobee Now With Four Wings
'It was a tiny thing, scarcely more than an inch and a half in length...'

CNSILK Robotic Spider Builder
'We could certainly spin a web right through the Solar System, if we can think of a good use for one.'

Starshade Will Help Space Telescope To Search For Exoplanets
'When it found planetary systems in its field, automatically shifted upon them a higher powered telespectroscope ...'

Tiny LEDs Developed For Dust-Sized Computers
'They use sparkles to talk to each other...'

Is There Extraterrestrial Life Here In The Solar System
'How fast is it moving? ...one meter per minute.'

Can We Comprehend Deep Learning Systems?
'You’ve nothing remotely like it, so I can’t describe it to you.'

Skin Electronics Can Show Electrocardiogram
'... the young men in the streets who applied polyimde OLED body film to their bared shoulders.'

Chinese Fern Helps Remediate Arsenic Soil
'Bioengeering had put out a spec report on the long crawly things five months back.'

Skai Air Taxi Costs The Same As Uber
'The air-taxi found its way past and around other ground-cars...'

Neurodevices For Consumers? Neuroethicists (And Philip K Dick) Say 'Caveat Emptor'
'They tried to use it today and it wouldn't work. No colors and no ceph patterns, neither one...'

NASA 3D Printed Habitat Challenge Won By AI SpaceFactory
3D printing - on Mars!

The Future Of Elon Musk's Neuralink
'Cerebral Electromagnetic Emmission Amplification and Relay System — call it artificial telepathy, if you like.'

Researchers Make You Say Anything in Videos
'[It] caused his televised image... to mouth the vowels and consonants beautifully.'

Jeff Bezos Tries Waldoes (Robotic Hands)
'Waldo put his arms into the primary pair before him...'

Asimov and Musk - Boring Company Tunnel vs. Street Race
'There was almost no sound, just a steady velvety whirr as the taxi sped along.'

More SF in the News Stories

More Beyond Technovelgy science news stories

Home | Glossary | Invention Timeline | Category | New | Contact Us | FAQ | Advertise |
Technovelgy.com - where science meets fiction™

Copyright© Technovelgy LLC; all rights reserved.