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Something’s happening as the marriage of currency and community converge online.
Today, CNN reported that people spend at least $1 billion on virtual currencies each year, with most of that going into online games. However, the market is hard to quantify. There is not a universal standard for online currencies. Some websites such as Hi5 employ a staff economist to monitor the community’s economy.
The developing economies of the online world are only in their infancy and it remains to be seen if they will be plagued by traditional problems that emerge in economic systems – or if they will define their own standards.
Check out the full article on CNN’s technology report.
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Sarah Doody is a leading information architect and digital strategist who specializes in product and brand development. She is known for her intimate understanding of culture, communication, and technology and their collective influencing power on society.
Sarah created Personal Metrics, an exploration of how we can change our lifestyles through measuring our behavior.
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