Ven started inside the Hub Culture community as a way for members to exchange value with each other, all around the world, for all sorts of things. To help foster the ecosystem for Ven, Hub Culture maintains a network of online stores and physical places (called Pavilions), and a consulting function called Knowledge Brokerage based on the currency.
Why the new currency? We believe the Internet needs a global digital currency, and the fundamentals of such a new tool should be people-powered, stable, secure, equitable, and driven to help nature. Ven values principles, and its very DNA is designed to help the planet in a way that no other currency has ever done, while being easy and fun to use!
How do we do it? Ven is an “asset backed currency” which means issuance is backed with reserves, managed by the Central Ven Reserve. Since the price of Ven comes from a basket of currencies, commodities and carbon futures, the value of Ven remains relatively stable – its a global hedge.
The carbon component of the basket makes Ven green – the more Ven circulating out in the world, the more carbon the Central Ven Reserve must hold to back the circulation (along with all the other stuff in the basket). Bottom line – over 5 million trees saved since 2007, and growing land reserves dedicated to conservation around the world.
There are lots of ways to use Ven and to get involved. The first step is to simply sign up for an account at Hub Culture – from there you’re well on your way to sending and receiving Ven, for any activity.