Hub Culture
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| Type of business | Private |
|---|---|
|
Type of site
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Social network service |
| Available in | English (UK), English (US) |
| Founded |
Hong Kong, China (November, 2002) |
| Headquarters | Hamilton, Bermuda |
| Key people |
Stan Stalnaker, Founder and Creative Director Tina Frank, Chairman, Board of Directors Meg Thomson, Executive Producer Edie Lush Executive Editor Jeffery Leung Commodities Director Mark Hamilton, Development Director |
| Website | www.hubculture.com |
| Alexa rank |
 311,788 (April 2014[update]) |
| Registration | Required |
| Launched | November 2002 |
Hub Culture is an invitation-led social network service that operates the global digital currency Ven, and according to its website, is "the first to merge online and physical world environments." It was founded in November 2002. The Hub Culture group of companies is privately held with offices in Bermuda, Hong Kong, London and New York, with a network of 40 knowledge brokers in over 25 locations worldwide.
Ven is a global virtual currency used by members of Hub Culture to buy, share and trade knowledge, goods and services globally with anyone in the network and can be spent at any Hub Culture Pavilion or used for micropayments on the Internet at large. The value of Ven is determined on the financial markets from a basket of currencies, commodities and carbon futures. It trades against other major currencies at floating exchange rates. Global pricing for Ven is provided by Thomson Reuters. Ven first appeared as an application in Facebook on 4 July 2007. In late 2008 the currency became tradeable to anyone with an email address, making it the first global digital currency to move from an online social network into the real world.
In December 2009 Hub Culture began using Ven as a micropayment system for the distribution of content produced by members in the network, allowing users to charge access to individual articles or videos posted inside the network system.
In May 2010, carbon pricing contracts were introduced to the weighted basket that determines the value of Ven. The introduction of carbon to the calculation price of the currency made Ven the first digital Emissions Reduction Currency System.
In April 2011, the company announced the first commodity trade priced in Ven for gold contracts between Europe and South America. On Earth Day 2011, the first carbon credit trade priced in Ven was exchanged between Nike and Winrock with the London Carbon Market for Brazilian aforestation.
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Wikipedia