About Ven Currency

Ven is the global currency from Hub Culture. It is highly stable, very liquid and used to buy, share and trade goods, services and knowledge. It can be exchanged quickly to anyone with an email address or via mobile scanning, and spent via the HubCulture.com retail platform. It is increasingly available at participating stores, exchanges and traders.

Overview

The value of Ven is determined by the financial markets in a weighted basket of currencies, commodities and carbon futures trading against other major currencies at floating exchange rates. Ven is the first digital currency to float, and the first to include carbon in its pricing, making it the only environmentally linked currency in existence. Since Ven is 100% backed by reserve assets equivalent to the total Ven in circulation, the inclusion of these assets in the reserve basket provide a demand source for carbon, with material benefits to the environment at large. Over 25,000 acres of Amazon rainforest and other environmental investments have been made as a result of Ven.

Currently over 20 million units of Ven have circulated, and it can be used to purchase anything from commodities to fashion to cars to a coffee.  Watch a Ven video. Read what Forbes, CNN, WSJ, Harvard Business Review, Techcrunch, Fortune and others say about Ven

Using Ven

Ven is used to purchase anything from "jets to juice" within the Hub Culture network, and is the sole tender accepted at Hub Culture Pavilions. Members are using the currency to accelerate everything from pricing produce in localized community gardens to micro-funding for development projects, high level knowledge sharing, even as incentives for villa rentals in the Hamptons, Bali, Mexico, Switzerland and other resorts around the world.

Ven can be sent to any Hub member with zero friction via an internal trading platform, or traded in exchange for knowledge and favors.

Accept Ven for micro-payments by including the Ven symbol or button, with a link to a Ven account using our API documentation at VenMoney.net It's free, simple and instant. Facebook, Twitter, and LinkedIn accounts can link to Ven for easily integrated transactions using approved buttons.

Ven Advantages

Green. Global. Stable. Because Ven is priced from a basket, movements tend to be more stable than a single currency. Stability makes Ven an excellent pricing mechanism for forward contracts on rolling physical goods, and makes Ven an excellent long-term store of value. It's also great for inter-company trades and companies looking for some reliability in pricing.

For more on how Ven is being used in the field of commodities and international wholesale, please apply for access to the Commodities section of the Hub Culture Resources network. The inclusion of carbon in the price gives every purchase a derivative carbon offset, and it works everywhere on the Internet.

Banks, hedge funds and other institutions are able to purchase Ven on the open market, and it is available for private secondary market trading on an approved basis with Hub Culture's financial partners.

The Ven Prize, Funds and Climate Deals

The Ven Prize is an award for innovation and collaboration toward sustainable economic systems in Hub Culture and the world at large. The next Ven Prize award will be presented in 2013. The Ven Prize began with a base of 100,000V, (equivalent to $10,000) and is growing.

Companies and individuals can contribute to the Ven Prize by sending Ven to this account. To learn about qualifying for the Ven Prize or for more information, please visit the Ven Prize profile and group on HubCulture.com. Companies can also invest in Ven Climate Deals, allocation funds dedicated to funding progress in the climate sector.

Ven Funds allow for membership based support of projects in a variety of sectors including entrepreneurshipm micro-finance, environmental progress, innovation, and even FX.

History

Ven first appeared as an application in Facebook on 4 July, 2007. In late 2008, it became tradeable to anyone with an email address, making it the first currency to move from an online social network into the real world. In 2010 it went to a float structure and in 2011 Thomson Reuters began calculating the value of Ven for the financial markets. The first commodity trades were done in 2012 and in summer 2013, Hub Culture opened up third party APIs to allow Ven to work with partners in exciting new ways.