An online wallet for a digital currency based on the worth of your positive contribution to the internet.
To adequately incentivize productive use of the internet
Help ideators and problem solvers capitalize on their digital contributions
To solve the data power asymmetry between corporations and individuals
Using a meticulously designed algorithm, the idea is to assign a certain value to each individual’s overall digital footprint and give it a certain score that can be translated into a special kind of digital currency. The more ‘positive value’ a person gathers with useful and creative contributions on the internet, the more cash s/he will have in his or her digital wallet.
How do we assign the value/score?
Positive or negative presence on the internet can be weighted and given relative values. For example, if a person has developed open-source software to solve any given problem, the person is given a certain positive score. On the opposite side, a person with a track of digital crimes/scams can be negatively scored. Relative values can be used to omit the necessity of an ‘absolute’ value.
To elaborate a bit more, each individual’s average digital footprint is calculated using a layered approach.
Layer 1: It weighs positive/negative contributions from the most generic online accounts like Facebook, Twitter, Gmail, Microsoft, Linkedin etc. Layer 1 weights will be based on the productive contributions made from these accounts. Any sponsored accounts or non-person accounts are not included.
Layer 2: It weighs scores from more specialized online platforms. Just like researchgate has its scoring system for individual researchers, there could be the cumulative score that also counts contributions on other platforms like GitHub, medium, quora, and brainstorming.
Layer 3: This layer scouts for individuals to score them based on their intellectual contributions in the forms of peer-reviewed research, books, open-source software development or similar level of intellectual inputs.
The algorithm shall be able to assort value to accounts on the basis of a general online meritocracy: if you have been reported/flagged by more than X users within Y amount of time across P number of online platforms, your cumulative score might suffer by Z degrees. Ditto, on the positive scale, for online (& organic) endorsements, citations and referrals.
Layer3 > Layer2 > Layer1 scores because the work/input/energy needed for contribution in Layer 3 > Layer 2 > Layer 1. A modular weighing can be used to normalize the distribution of individuals: a person can have high digital worth by publishing in Nature, or alternatively by having a very positive influence on his organic followers on Twitter (with the latter being more lightly scored) .
This can even help solve -at least partially- the power asymmetry between the corporations and the individuals. XYZ is first an engineer himself, and only then an Amazon worker. Hence, the work he does should have values beyond his office space. Those values won't lie in the hands of Amazon under the proposed algorithm. Rather, he could be endorsed organically by his colleagues, followers and friends online, and hence have strong extra-official merit. By-product: data equity.