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Forget Dollars, Make Your Own Currency

'Complimentary' monetary systems next big thing, futurist says

By Kevin Spak, Newser Staff

Posted Apr 14, 2009 3:00 PM CDT

(Newser) – Futurist Douglas Rushkoff is trying to talk Craig Newmark into creating “craigbucks,” a specialized currency for trading goods on Craigslist. Rushkoff, who notably predicted the rise of social media, thinks do-it-yourself “complimentary currency” is the future of money, Portfolio reports. Complimentary currencies typically spring up and thrive in nations with unstable or untrustworthy governments, but Rushkoff thinks they’ll soon catch on here, too.

Already several such currencies are being traded around the world. China’s government recently cracked down on the trade of “QQ coins,” a currency that began on the social-networking site QQ and used for nearly $1 billion in transactions last year. In Kenya, trading cell-phone minutes has become a major cash system, to the tune of $3.6 billion a year, or 10% of Kenyan GDP.

Douglas Rushkoff speaks during the Television Critics Association Press Tour in this file photo. (Getty Images)

Making up your own currency might actually work. (Shutterstock)

So far Craigslist founder Craig Newmark, front, isn't enamored of the "Craigbucks" idea. "I can do it myself," laughs Rushkoff (not pictured). (AP Photo/Jeff Chiu, file)

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Forget Dollars, Make Your Own Currency

'Complimentary' monetary systems next big thing, futurist says

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More Newser Stories

Japan, China Cut Currency Deal, Shun Dollar

Leaders also discuss North Korea

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

G20 Nations Brush Off Goals by Geithner

He's proposing better guidelines on currency rates, deficits

Japan Jumps Into Currency Market to Weaken Yen

Investors cheer, but analysts worry

Dollar Headed for Biggest Gains Since '81: Bankers

Greenback set for 17.1% gain against euro

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Forget Dollars, Make Your Own Currency

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OTHER STORIES ON OUR RADAR

currency • currency exchange • Craigslist • futurists • complimentary currencies

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Japan, China Cut Currency Deal, Shun Dollar

Leaders also discuss North Korea

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

G20 Nations Brush Off Goals by Geithner

He's proposing better guidelines on currency rates, deficits

Japan Jumps Into Currency Market to Weaken Yen

Investors cheer, but analysts worry

Dollar Headed for Biggest Gains Since '81: Bankers

Greenback set for 17.1% gain against euro

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?