#PunkMoney

Twitter's own promise currency anyone can create, transfer and redeem

Information

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Web http://www.punkmoney.org/
Maturity

Starting

About the project Edit

PunkMoney is created by tweeting a promise, using special wording and the #PunkMoney hashtag. For example:

"@Alice I promise you one beer. #PunkMoney" @Bob

PunkMoney also supports a number of gestures, such as thanks, offers and needs. All activity is logged automatically in the Tracker for accountability and recordkeeping.

Once created, promises can be transferred between users and redeemed by replying to the original tweet. The tracker identifies and keeps track of what happens to each promise over time.

Themes

In what ways is this project unique and creative? Edit

PunkMoney is designed to enable a peer-to-peer gift economy on Twitter. It's not a conventional monetary system, though it bears some resemblance to early forms of peer-to-peer credit money. It deliberately omits a unit of account in order to support gifts rather than transactions. The flow of gifts between users helps to build community, a major motivation for the project.

What is the social value of this project? Edit

What is the potential of this project to expand and develop? Edit

What was the triggering factor of this project? Edit

PunkMoney began informally on Twitter in October 2011 and soon became a software project. It was inspired partly by the Occupy Wall Street protests later that year and the work of anthropologist David Graeber on gift economies, credit and the origins of money.

The PunkMoney tracker and protocol are currently under active development in open source format.

What is the business model of this project? Edit


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