Other communities can exchange into and out of their currency networks without the need of a third-party.
But before bitcoin became the buzz, there were already a number of other virtual currency networks run by Facebook, Zynga and many more, with aim being to spend the "money" on gaming and other apps on their platforms.
By late 2009, preparing for what would become the CIC, they met with people in the Tarragona region who had started another independent social-currency network.
Now, at least 20 local social-currency networks throughout Catalonia are connected through the CIC.
Next, he talked about the specific ratings currency that networks and advertisers agree to use.
Alan Wurtzel, the president of research for NBC, compared Nielsen to a utility, like a gas or electric company, and said that the ratings are the sole currency that networks and cable channels have to evaluate a program's performance and do business.
As they are based on peer-to-peer protocols, no one computer controls the currencies, but networks keep track of all transactions made using these digital currencies, but they do not know what the coins were actually used for – just the ID of the computer "wallet" they move from and to.
The beginning stages of this are already unfolding with the development of numerous social currencies, social networks, emerging mobile payment solutions and numerous other breakthrough ideas in social capital, social enterprise, social finance and fintech.
All day and all night, a second laptop in the room emitted a glow as the FairCoin wallet program ran on it, helping to keep the currency's decentralized network secure.
It acquired Slide and Jambool, which made apps and virtual goods and currency for social networks, and Angstro, which built tools to exchange information among social services.
