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 ")

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.

'Spikeless' Brand Swizzle Stick Detects Spiked Drinks
'the unobtrusive inspections with tiny remote-cast snoopers...' - Frank Herbert, 1964.

Musk Proposes Sites For Martian Cities
'...its streets were of remarkable width, with few or no buildings so high as mosques, churches, State-offices, or palaces in Tellurian cities.' - Percy Greg, 1880.

 

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.

 

 

 

 

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

LLM 'Cognitive Core' Now Evolving
'Their only check on the growth and development of Vulcan 3 lay in two clues: the amount of rock thrown up to the surface... and the amount of the raw materials and tools and parts which the computer requested.'

Has Elon Musk Given Up On Mars?
'There ain't no such thing as a free lunch.'

Bacteria Turns Plastic Into Pain Relief? That Gives Me An Idea.
'I guess there's nobody round this table who doesn't have a Crosswell [tapeworm] working for him in the small intestine.'

When Your Child's Best Friend Is An AI
'Figments of his mind in one sense, of course, for he had shaped them...'

China's Drone Mothership Can Carry 100 Drones
'So the parent drone carries a spotter that it launches...'

Drones Recharge In Mid-Air Like Jets Refuel!
'...nurse drones that would cruise around dumping large amounts of power into randomly selected pods.'

Australian Authors Reject AI Training Of Llama
'It's done with a flip of the third joint of the tentacle on the down beat.'

Is China Mining Helium-3 On The Moon's Farside?
'...for months Grantline bores had dug into the cliff.'

Maybe It's Too Soon To Require Autonomous Mode
'I hope all those other cars are on automatic,' he said anxiously.

Is Agentic AI The Wrong Kind Of Smartness?
'It’s smart enough to go wrong in very complicated ways, but not smart enough to help us find out what’s wrong.'

Heat Waver - The First Ever Combo Solar Collector And Wind Turbine
'...like a spray of tulips mounted fanwise.'

Tesla 'Fleet Response Agents' Bolster FSD Autonomy
'You hate the whole idea that some bored drone pusher in a remote driving centre has got your life... in his hands.'

Mori3 Autonomous Shapeshifting Robot
'My homeland is being threatened by the Replicators. Thus far all attempts to stop them have failed.'

Tesla Seeks 'Tesla Robotaxi' And 'Robobus' Trademarks Ignoring Prior Art
'A robobus had just rolled up to the curb.'

Scary Grid Safety Robots
'The ultimate horror for our paranoid culture...'

Does AI Provide A Way Forward For Talk Therapy
'And there in the next room by the sofa sat a familiar suitcase, that of his psychiatrist Dr. Smile.'

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.