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 ")

Deepfakes Imperil Democracy (George Orwell, Right Again)
'All history was a palimpsest, scraped clean and reinscribed exactly as often as was necessary.' - George Orwell, 1948.

Inspired By Japan, Nap Pods For Hajj
It's always a good time for a nap.

'Snapchat Dysmorphia' Now A Thing, Say Plastic Surgeons
'The program raced up the screen one scan line at a time, subtly smoothing, deleting and coloring.' - Bruce Sterling, 1985.

Bot Tweets Venmo Drug Transactions
An alarming item to find on your twitter feed.

 

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

Superstrong Multilayer Metal-Graphene Composite Material
Negligible increase in weight increased material strength by hundreds of times.

Deepfakes Imperil Democracy (George Orwell, Right Again)
'All history was a palimpsest, scraped clean and reinscribed exactly as often as was necessary.'

String Art Courtesy Of Robot Artist
The number of different ways to span a thread between a larger number of hooks is astronomical.

Still Wondering If You'd Work For A Robot Boss?
'This is all coming to you courtesy of the simstim unit wired into your deck, of course.'

World's First Autonomous Tram In Germany
What's it like for autonomous trams when they're turned off at night?

Sleeep PRO Earplug For Maximum Rest
'Merton... placed the electrodes of the sleep-inducer on his forehead.'

Inspired By Japan, Nap Pods For Hajj
It's always a good time for a nap.

Amphibio 3D Printed Gill Shirt
'... we can descend and live down there at one of those year-round aquatic resorts.'

How Do You Put An Asteroid Into Earth Orbit? Carefully!
'...she would have to be coaxed by another series of pats into a circular orbit.'

PD Aerospace Space Plane By 2023
'The sleek, tapered space shuttle lay immobile upon the private landing field...'

Foldimate Folds Your Clothes Perfectly
Look ma, my room is clean! I can hear you now.

Robots Help People Get Dressed, As Predicted In 1931
Yes, people of the future, robots will dress you.

International Space Station Leak Plugged - With Finger
'These tag-alongs search out stray leaks.'

Robot Snake Flies, Fights Fires
Just a prototype, but still amazing.

IPAL Chinese Robot Babysitter
'But Nanny is different...'

ZKZM-500 LASER Assault Rifle
'The Iranian reached back into the locker and got a pair of laserifles.'

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.