More and more authority is not only determined by journalists, academics and organisations, but also by amateurs and individual professionals and the masses. They identify and rank all kinds of products and services in scores. In addition, there are already other forms of value determination such as kudos, value points and the number of contacts on social networks. These are all new indicators for social value. Social media can therefore help determine social value.
Indexes such as klout and Peerindex calculate the influence or value of a person or brand based on multiple variables. They look at the number of active followers on Facebook and Twitter, among other things. They try to estimate the number of people someone can actually mobilize or 'engage' and thus filter out passive followers. Social indexes have been on the rise in recent times and are expected to become increasingly advanced.
In the so-called metacurrency project, work is continuing on the preconditions for such a peer-to-peer system. Important starting points are open tradability, public rules of the game and open data. It is assumed that multiple currencies will emerge in this open environment, just as the open source software community works with branches ('forges'), where new paraguay phone number list variants are constantly being developed. Everyone can choose their own variant with their own rules of the game, just as there are multiple currencies. However, the user is free to choose which currency they choose and, moreover, the coins can be traded among themselves.
Social values
With all these developments, one thing could almost be overlooked: the end user, the consumer. Together with the TU Eindhoven, we are looking at a user-friendly design for a social currency based on the future exploration Wisdom of the Crowd , which looks at the social values of reliability and reciprocity. The results are expected in May 2011.
A social currency could be a solution in our money-dominated world. But as MasterCard said in its commercials years ago: many things in life remain unaffordable… And that’s a good thing.