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At the heart of Movenbank is a concept call CRED.

The difference today is our ability to capture data from across an array of digital services. With every trade we make, comment we leave, person we "friend", spammer we flag or badge we earn, we leave a trail of how well we can or can't be trusted.

An aggregated online reputation having a real-world value holds enormous potential

peer-to-peer marketplaces, where a high degree of trust is required between strangers; and where a traditional approach based on disjointed information sources is currently inefficient, such as recruiting.

opportunity to reinvent the way people found jobs through online reputation

"It's not about your credit, but your credibility," King says.

But this wealth of data raises an important question -- who owns our reputation? Shouldn't our hard-earned online status be portable? If you're a SuperHost on Airbnb, shouldn't you be able to use that reputation to, say, get a loan, or start selling on Etsy?

"People are currently underusing their networks and reputation," King says. "I want to help people to understand and build their influence and reputation, and think of it as capital they can put to good use."

Social scientists have long been trying to quantify the value of reputation.

Using functional magnetic resonance imaging, the researchers monitored brain activity

"The implication of our study is that different types of reward are coded by the same currency system." In other words, our brains neurologically compute personal reputation to be as valuable as money.

Personal reputation has been a means of making socioeconomic decisions for thousands of years. The difference today is that network technologies are digitally enabling the trust we used to experience face-to-face -- meaning that interactions and exchanges are taking place between total strangers.

Trust and reputation become acutely important in peer-to-peer marketplaces such as WhipCar and Airbnb, where members are taking a risk renting out their cars or their homes.

When you are trading peer-to-peer, you can't count on traditional credit scores. A different measurement is needed. Reputation fills this gap because it's the ultimate output of how much a community trusts you.

Welcome to the reputation economy, where your online history becomes more powerful than your credit history.

Presently, reputation data doesn't transfer between verticals.

A wave of startups, including Connect.Me, TrustCloud, TrustRank, Legit and WhyTrusted, are trying to solve this problem by designing systems that correlate reputation data. By building a system based on "reputation API" -- a combination of a user's activity, ratings and reviews across sites -- Legit is working to build a service that gives users a score from zero to 100. In trying to create a universal metric for a person's trustworthiness, they are trying to "become the credit system of the sharing economy", says Jeremy Barton, the 27-year-old San Francisco-based cofounder of Legit.

His company, and other reputation ventures, face some big challenges if they are to become, effectively, the PayPal of trust. The most obvious is coming up with algorithms that can't be easily gamed or polluted by trolls. And then there's the critical hurdle of convincing online marketplaces not just to open up their reputation vaults, but create a standardised format for how they frame and collect reputation data. "We think companies will share reputation data for the same reasons banks give credit data to credit bureaux," says Rob Boyle, Legit cofounder and CTO. "It is beneficial for one company to give up their slice of reputation data if in return they get access to the bigger picture: aggregated data from other companies."

PeerIndex, Kred and Klout,

are measuring social influence, not reputation. "Influence measures your ability to drag someone into action,"

"Reputation is an indicator of whether a person is good or bad and, ultimately, are they trustworthy?"

Early influence and reputation aggregators will undoubtedly learn by trial and error -- but they will also face the significant challenge of pioneering the use of reputation data in a responsible way. And there's a challenge beyond that: reputation is largely contextual, so it's tricky to transport it to other situations.

Many of the ventures starting to make strides in the reputation economy are measuring different dimensions of reputation.

reputation is a measure of knowledge

a measure of trust

a measure of propensity to pay

measure of influence

Reputation capital is not about combining a selection of different measures into a single number -- people are too nuanced and complex to be distilled into single digits or binary ratings.

It's the culmination of many layers of reputation you build in different places that genuinely reflect who you are as a person and figuring out exactly how that carries value in a variety of contexts.

The most basic level is verification of your true identity

reliability and helpfulness

do what we say we are going to do

respect another person's property

trusted to pay on time

we will be able to perform a Google- or Facebook-like search and see a picture of a person's behaviour in many different contexts, over a length of time. Slivers of data that have until now lived in secluded isolation online will be available in one place. Answers on Quora, reviews on TripAdvisor, comments on Amazon, feedback on Airbnb, videos posted on YouTube, social groups joined, or presentations on SlideShare; as well as a history and real-time stream of who has trusted you, when, where and why. The whole package will come together in your personal reputation dashboard, painting a comprehensive, definitive picture of your intentions, capabilities and values.

idea of global reputation

By the end of the decade, a good online reputation could be the most valuable currency in your possession.

What we found was a funding system that is unnecessarily complicated and confusing to navigate

significant gaps that hinder the ability of our businesses to grow

The encouragement of home-grown innovation a part of government procurement is commonsense

the NRC can play a unique role, linking its large-scale, long-term research activity with the academic and business communities

challenges in getting start-up funding and late stage risk capital financing

the gap is filled by foreign investors, which means that too many commercial benefits and intellectual property end up leaving the country

government-wide clarity when it comes to innovation

We heard that the government should be more focussed on helping innovative firms to grow and, particularly, on serving the needs of small and medium-sized enterprises (SMEs)

greater cooperation with provincial programs

innovation support is too narrowly focussed on R&D – more support is needed for other activities along the continuum from ideas to commercially useful innovation

more productive and internationally competitive economy

whole-of-government program delivery vehicle – the Industrial Research and Innovation Council (IRIC)

SR&ED program should be simplified

includes non-labour costs, such as materials and capital equipment, the calculation of which can be highly complex

the base for the tax credit should be labour-related costs, and the tax credit rate should be adjusted upward

fund direct support measures for SMEs

promoting the growth of firms

facilitating access by such firms to an increased supply of risk capital at both the start-up and later stages of their growth.

building public–private research collaborations

National Research Council (NRC) should become independent collaborative research organizations

become affiliates of universities

create opportunity and demand for leading-edge goods

encouragement of innovation in the Canadian economy should become a stated objective of procurement policies and programs.

the government needs to establish business innovation as a whole-of-government priority

put innovation at the centre of the government's economic strategy

Innovation Advisory Committee (IAC) – a body with a whole-of-government focus that would oversee the realization of our proposed action plan, as well as serve as a permanent mechanism to promote the refinement and improvement of the government's business innovation programs going forward.

focus resources where market forces are unlikely to operate effectively or efficiently and, in that context, address the full range of business innovation activities, including research, development, commercialization and collaboration with other key actors in the innovation ecosystem

the closer the activity being supported is to market, and therefore the more likely it is that the recipient firm will capture most of the benefit for itself.

specific sectors

of strategic importance

concentrated in particular regions

succeed in the arena of global competition

people confuse collaboration with teamwork.

Teams are created when managers need to work closely together to achieve a joint outcome.

actions are interdependent

committed to a single result

joint decisions

cautious about taking unilateral action

someone with the authority to resolve disputes

Team members may dislike

each other

But with a good leader they can still perform.

Collaborators face a different challenge

they often also have competing goals

the shared goal is usually only a small part of their responsibilities

collaborators cannot rely on a leader to resolve differences

collaborators cannot walk away from each other, when they disagree.

a collaborative relationship

is a form of customer-supplier relationship in which the participants have all the difficulties of contracting with each other without the power to walk away if the other party is being unreasonable or insensitive.

my advice is to avoid relying on a collaborative relationship except in the rare cases when a company objective is important enough to warrant some collaborative action but not so important as to warrant a dedicated team.

collaboration requires emotional engagement

respect

creatively bargain

other over costs and benefits.

don't think of it as a permanent solution

collaborative relationship

transition to an easier form of interaction

the owner-centric model

permission of a specific ‘owner’ who has to defend the integrity of his module.

different assumptions and effects.

The free-form model connotes more of a sense that all users are on the “same level," and that expertise will be universally recognized and deferred to

the creator of an entry is spared the trouble of reviewing every change before it is integrated, as well as the need to perform the integration

the owner-centric authority model assumes the owner is the de facto expert in the topic at hand,

and all others must defer to them.

the owner must review all modification proposals, and take the time to integrate the good ones.

The owner-centric model is better for quality, but takes more time, while the free-form model increases scope of coverage and is very fast.

'equipotentiality'

rules are generated within the community itself, though mostly in the early phases. After a while, they tend to consolidate and they are a given for the new participants who come later

a process of socialization is crucial to eventual acceptance . The process is akin to the tradition of artisanship, which has been used in the three-degree system of original freemasonry as well: apprentice, companion (fellow craft), master. But it is implied rather than formalized.

Crucial to the success of many collaborative projects is their implementation of the reputation schemes.

explore the space between these extremes

a single object/state can be shared with a relatively small number of users/particles

 Preventing oversubscription ensures that the population of users sample a wider range of DVDs, which in turn provides a broader range of recommendations.

Retailers are not just interested in renting DVDs or selling books or whatever. They want to maximise profits.