Science Fiction
Dictionary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
 |
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 ")
Liuzhi Process Now In Use In China
'He was in a high-ceilinged windowless cell with walls of glittering white porcelain.' - George Orwell, 1984.
Animated Tumblebugs On Astounding Cover!
'Gaines and Harvey mounted tumblebugs, and kept abreast of the Cadet Captain...'
Has Elon Musk Given Up On Mars?
'There ain't no such thing as a free lunch.'
'They Erased My Memory' Says Ariana Grande
'...using a neutralizing electronic impulse.' - Edmond Hamilton, 1948.
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.
Science Fiction
Timeline
1600-1899
1900-1939
1940's 1950's
1960's 1970's
1980's 1990's
2000's 2010's
Current News
Musk Idea Of Cars Talking To Each Other Predicted 70 Years Ago
'My cars talk to one another.'
Elegant Bivouac Shelter Produces Water And Electricity
'There was nowhere on the planet where science and technology could not provide one with a comfortable home...'
X-Control Janus-1 A Suitcase Aircraft
'You will notice that it... fits the suitcase nicely.'
'AI Assistants' Are Actually Less Reliable For News
'Most men updated their PIP on New Year's Day...'
YES!! Remote Teleoperated Robots predicted by Technovelgy!
'...a misshapen, many-tentacled thing about twice the size of a man.'
Will Robots Ever Fold Landry?
Where have you gone, Mrs. Robinson?
Will AIs Give Better Results If You're Rude To Them?
'I said, "Listen up, motherf*cker.'
Cybertruck Robotic Arm F10 Drone Launch!
Drone away!
Black Fungus Blocks Radiation
'You were surrounded by Astrophage most of the time'
Liuzhi Process Now In Use In China
'He was in a high-ceilinged windowless cell with walls of glittering white porcelain.'
Reflect Orbital Offers 'Sunlight on Demand' And Light Pollution
'I don't have to tell you about the seven two-mile-diameter orbital mirrors...'
Will Robots Become Family Caregivers?
'The robant and the tiny old woman entered the control room slowly...'
Chinese Tokamak Uses AI To Keep Fusion Plasma Stable
'Guy named Otto Octavius winds up with eight limbs... What are the odds?'
Time Crystals Can Now Be Seen Directly
'It is as you thought when you constructed the time crystal, my master Vaylan.'
RoboBallet The Dance Of Cooperative Robots
'...an integrated seven-unit robot team.'
Chrysalis Generation Ship to Alpha Centauri
'This was their world, their planet —
this swift-traveling, yet seemingly moveless vessel.'
