Value of new digital currency is determined by reputation

Internet currencies as Bitcoin turn money into something completely virtual. Values are determined by rules of mathematics and programmers and freed from banks and government. But entrepreneur J. Chris Anderson wants to reform money even further. His Document Coin is less about replacing dollars and cents, and more about reimagining the way commercial transactions are processed. The way it works is that anyone can create a personalized currency at anytime, then trade it or sell it—the value is subjective to who made the currency. A tech mogul’s currency might hold more weight in Silicon Valley, while a musician’s currency might be more sought after at music festivals. Anderson is not worries about the objective value of the currencies. “If bitcoin is the toy version of what we’ll all be using in the future, then I want to build the crazy art project version of the future,” he explains.

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Value of new digital currency is determined by reputation

Internet currencies as Bitcoin turn money into something completely virtual. Values are determined by rules of mathematics and programmers and freed from banks and government. But entrepreneur J. Chris Anderson wants to reform money even further. His Document Coin is less about replacing dollars and cents, and more about reimagining the way commercial transactions are processed. The way it works is that anyone can create a personalized currency at anytime, then trade it or sell it—the value is subjective to who made the currency. A tech mogul’s currency might hold more weight in Silicon Valley, while a musician’s currency might be more sought after at music festivals. Anderson is not worries about the objective value of the currencies. “If bitcoin is the toy version of what we’ll all be using in the future, then I want to build the crazy art project version of the future,” he explains.

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