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 ")

Save Your Brain's Connectome, Upload Yourself Elsewhere
'You've got remote storage. How regular is the update?' - Richard Morgan, 2003.

TMS Decreases Belief In God, Increases Belief In Immigrants
'... Setting up the same currents, the same basic ideas, in them all.' - Edmond Hamilton, 1938.

Blockchain Used To Verify Election Results
'Any adult could punch into the phone his or her code, followed by a yes or no.' - John Brunner, 1975.

We Could Downgrade Puerto Rico - And Thereby Save It
'It was cheaper to pay the refugees to go without up-to-the-minute equipment.' - John Brunner, 1976.

 

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

Swarm Of Mindless Robots Works Together
'Very tiny pseudo insects that... can unite to form a superordinate system.'

SpotMini Robot Dog, Autonomous And On Sale In 2019
Great, an autonomous slamhound. It is cute, though.

RoboFly Is Laser-Powered, Adorable
Don't swat this fly!

MSG Sphere Las Vegas, ala Star Wars
'The smoky globe, hung in the vault, was shot with colored light...'

Tetraplegics Dominate Avatar Races
Well, just speaking brain-to-computer...

MIT Ampli Blocks Build Biomedical Devices
Damn it Spock, I'm a doctor not an engineer!

UberAIR Asks For Skytaxi Landing Prototypes
You know you want to ride in one.

Boring Tunnel Almost Ready
Your underground future is calling!

Handheld Human Skin Printer
It outputs a thin wad of uniflesh.

Healthy Fast Food Courtesy Of Robot Chefs
'The electric cook was stirring empty nothing in a pan, with a zeal worthy a dozen eggs.'

Mass Production Of In Vitro Meat From One Sample
They're Assimilating Our Culture, That's What They're Doing

Amazing 'Hybrid' Solar-Powered Sea Slug Does Photosynthesis
Thank goodness for Star Trek.

Retinal Prosthesis Uses Organic Printing Inks
We can rebuild you - well, your eyes, maybe.

Should You Submit Your DNA To A Database?
Consumer DNA services are often inaccurate.

Squid-Like Robots Soon To Be 3D Printable
'It was a chemotactic artificial jellyfish designed to slither...'

Humans Evolve Deep Diving Abilities
Sounds like '60s sci-fi to me.

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.