We’re forwarding an announcement from William Shanley, on a new P2P exchange site, which uses a karma-based reputation currency, originally proposed by science fiction author Cory Doctorow: the ‘Whuffie’:

“GiveGet Nation‘s economy draws on principles of Pierre Bourdieu on the interchangeability of economic, political and culture capital in habitats, and is coherent with chaos and quantum theory, as well as the perennial philosophy.

Our system creates a market for the world’s unlimited surplus product, labor, intellect and spiritual capital, much like a free eBay, without the auction or requiring money. People can give, get and share, goods, actions, knowing and spirit, with unlimited categories or subcategories which may be created by users. There are no fees or middle men. Everything is free and by communications are by password secured email until both parties agree to transact. We use science-fiction writer Cory Doctorow’s post-scarcity reputation based capital, Whuffie, voted by our community when transactions are rated.

But what we’re really about are the primary sources which underlie all money, good and services: values. When values match, that’s when the magic happens. so that’s what we’re really about .”