The P2P Alternative Social Economy

The Wall Street Journal reports that a peer to peer social currency based economy may be playing a large role in our future. Stan Stalnaker, founder of the Hub Culture social network says “I don’t think anybody has any idea of how big a shift is coming in terms of our our view and perception of finance and money.” Clever social entrepreneurs are already bypassing the traditional banking world with micro lending services such as Kiva.org, and now other groups are creating their own units of exchange.

Hub culture has its own digital currency called Ven that its worldwide members can use to swap for goods and services in place of local money. These alternative economic networks often value trust, transparency and reputation over any kind of physical collateral

More in the WSJ video below.

[via WSJ]