The Social Credit Card

My friend Paul Lamb has sponsored a very neat idea on Ideablob. Paul wants to create a Social Credit Card.

If you haven’t spent time surfing around Ideablob you should. It’s a really terrific idea of crowdsourcing new, entreprneurial ideas, both for profit and nonprofit, can post their ideas. The crowd can then review and vote for them; the winner gets $10,000.

Paul’s Social Credit Card idea is a way to use a mechanism, like a credit card, to store and social capital for exchange. Here’s Paul’s description of the idea:

Every time we make a social contribution (helping a neighbor, volunteering at a homeless shelter, donating to charity, etc.) we accumulate points that appear on our monthly statements. These points are then redeemable, similar to frequent flyer miles, for the purchasing of goods or services. The points can also be used to pay down debt or donated to other individuals or charities as a financial contribution. By combining social with financial capital we create incentives for good works and a more comprehensive picture of our net worth.

Go and take a peek, and if you are moved, vote for Paul’s idea today. Thanks!

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