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Ven is the global, social currency from Hub Culture Watch. Trade. Code.
Learn about our historic commodity and carbon credit trades using Ven.
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Overview
Ven is a global digital currency used by members of Hub Culture to buy, share and trade knowledge, goods and services. It can be spent at any Hub Culture Pavilion and exchanged digitally to anyone with an email address via the HubCulture.com platform. An API for everyone at VenMoney.net allows Ven to be exchanged anywhere, for everything.
The value of Ven is determined by the financial markets in a weighted basket of currencies, commodities and carbon futures trading against other major currencies at floating exchange rates. Ven is the first digital currency to float, and the first to include carbon in its pricing, making it the only environmentally linked currency in existence.
Currently over 8 million units of Ven are in circulation worldwide, and it can be used to purchase anything from commodities to fashion to cars to a coffee. Watch a Ven video.
In January 2011, Hub Culture released an open API for Ven, allowing it to move across the web as an open digital payment ecosystem: Ven Money. Ven first appeared as an application in Facebook on 4 July, 2007. In late 2008, Ven became tradeable to anyone with an email address, making it the first currency to move from an online social network into the real world.
How to get Ven
Using Ven
Green. Global. Stable. Because Ven is priced from a basket, movements tend to be more stable than a single currency. Stability makes Ven an excellent pricing mechanism for forward contracts on rolling physical goods, and makes Ven an excellent long-term store of value. It's also great for inter-company trades.
For more on how Ven is being used in the field of commodities and international wholesale, please apply for access to the Commodities section of the Hub Culture Resources network. The inclusion of carbon in the price makes every purchase a theoretical carbon offset, and it works everywhere on the Internet.
Banks, hedge funds and other institutions are able to purchase Ven on the open-market, and it is available for private secondary market trading on an approved basis with Hub Culture's financial partners.
The Ven Prize and Ven Climate Deals
The Ven Prize is an award for innovation and collaboration toward sustainable economic systems in Hub Culture and the world at large. The next Ven Prize award will be presented in 2011. The Ven Prize began with a base of 100,000V, (equivalent to $10,000) and is growing.
Companies and individuals can contribute to the Ven Prize by sending Ven to this account. To learn about qualifying for the Ven Prize or for more information, please visit the Ven Prize profile and group here on Hub. Companies can also invest in Ven Climate Deals, allocation funds dedicated to funding progress in the climate sector.