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Tag: trust

Decentralized CRM With Curiosumé

Photo credit: New York Times

(Photo: New York Times)

Modern CRM (Customer Relationship Management) emerged from the boiler rooms of corporate sales departments. They needed a way to keep track of contacts, leads, calls, and ping schedules.  Soon they added client information like DOB, Spouses name, neighborhood news, etc.  The customer responded remarkably well, in fact, perhaps too well – they started asking for things like better service, warranty claims, and “can I get that in purple”.

Salespersons, being so closely tied to the revenue, began telling the service department that they are choking revenue,  and telling the warranty department when customers are defecting, and telling engineering to introduce new features.  They got away with it because they had management support as a revenue driver.  Pretty soon CRM systems began migrating across the enterprise evolving along the way. Ironically, CRM now finds itself losing touch with the customer despite the ever increasing amount of data that now populates the hit sheets.

Recently, we were asked to consider scenarios for Curiosumé applications in a CRM role in the financial industry. There are several important features of Curiosumé that can reconnect the customer to the enterprise.

Top level ontology in the commons
Instead of controlling people’s information, set it free and watch where the client leads you.  When all market channels pull their information from the same network of nodes and branches, they can always be current and synchronized. When the client adds information to the commons, this becomes available to the vendor outside of a firewall eliminating many security issues.  You don’t necessarily need (or want) to know the ID of the client in order to serve them better.

Anonymity layer / autonomous matching:
AUPOT (Anonymous Until Point of Transaction) allows clients to deploy anonymous personas so that they will be more willing to;

  • reveal true intentions to the commons,
  • perform their own pre-analysis in the commons
  • increase their insights and contribute that to the commons.

Customer Controls Their Data:
Help the client own and control their own engagement data.  Give them the same tools and opportunities to experiment as researchers as the Big Data wonks have.  Allow them to delete, save, edit or have as many different personas as they want. Let them deploy and retract personas as a way of finding you.  A better and more efficient relationship will emerge between both sides of a transaction.

User interface layer:
Instead of leading your client like cattle through an arbitrary ontology tree, show them photographs that corresponds to nodes in the common ontology.  These can then be matched algorithmically to advisors, products, or different departments in the firm, in real time.   In essence, you can create a multi-agent algorithmic game in a user interface that could be fun, engaging, and sticky as heck.

Advisor interface:
When a client chooses to engage the advisor or a product or a transaction,  they can submit their persona into the algorithm to select specialized advisors or a team of advisors. Only at the point of mutual acceptance, both players cross the firewall and engage in honest, trusting commerce. Layers and layers of bureaucracy, vetting, and security breaches can be eliminated until the actual exchange is made.

(Photo: The Philadelphia Orchestra)

Powerful Feature:
One of the most powerful and least recognized features of Curiosumé is the ability to constrain a “score” to a number or a range. One reason for this is to create imbalance around the mean – when the system is not balanced, it can never be static and will always have some movement (regression toward the mean).  It will become largely self-managing, self centering, and even a little joyous.

For example: if we constrain the client to having a Curiosumé score of zero; that means that for the total of all (+) sigmas, they must also accumulate an equal and opposite total of  (-) sigmas such that their net total is zero, in order to pass “go”. When we lay this back on to the top level ontology (Wikipedia), we can find a series of paths that unite the (+) sigmas to the (-) sigmas.  This path tells us a GREAT deal about where the client wants to go.  Likewise an older client may prefer a net (+) portfolio where a younger client may prefer a net (-) portfolio.  Decentralized CRM with Curiosumé can also be applied to risk pooling in the same manner. The deviation s from the mean and resulting movements are precisely how we would price the derivatives of intangibles, i.e. tangibles.

Outcome:
Decentralized CRM with Curiosumé is readily ready to happen. We know that people, advisors, and products can be brought together in personal and emotional engagement when they intersect paths of common interest. This is the weakness of both the barter system AND modern technological Capitalism  If we can envision interests flowing dynamically along vectors, we will have the ability to align human incentives and the markets that depend on them.

A Tale As Old As Time

by animeartist67

Nothing grabs people’s attention these days like a discussion about the future of money.  Yet few subjects diverge as wildly. The stakes are high since personal and political fortunes are cast against the ideals of what money is, what it has been, and what it will become.  The temptation to cast the future of money in one’s own image is a tale as old as time and likely the source of most social conflict.

The Future of Time

There are two futures of money being foretold today. One is predicated on the demise of Capitalism and persistent denial that scarcity is a real economic element, despite the obvious scarcity of time in one’s life, for instance. The other future seeks to correct the flaw in Market Capitalism so that one’s scarce time may become more equitably allocated and less easily exploited by others.  Social values such as freedom, liberty, family, community, trust, health and welfare are derived from how one is allowed to prioritizes their own time, not how one is able to prioritizes the time of others.

The United States of Mind

The reason why this distinction is important is that no great economic paradigm of human civilization ever came about as a result of wholesale collapse of the prior economic paradigm. Rather, each new state of human social organization was derived from the prior state through an integration of tools created in that prior state.

It is now time to take account of these tools and figure out how to integrate them correctly.  This is the only way to foresee where we need to go and how we can get there.  The only way to defeat gravity is to understand gravity. The work will be difficult, it will be scientific, it will be intellectually challenging, and it will be inclusive of all living systems – including those that we seek to change. The trick to the future of money business will be to cure the disease without killing the patient.

Unfortunately, we may not have much time

They Should Pass A Social Currency Option

cubscout-mainMy new favorite rebuttal to any argument from economic ailment to political controversy is: “I’d like to see a social currency thrown into the mix”.

It is really convenient to have the same position on all issues; Health Care, Terrorism, abortion, financial meltdown, education reform, and political scandal – my response is the same. “I’d like to see a social currency thrown into the mix”.

What the heck am I talking about?

Several recent blogs articles (and here, and here, and here) have converged around the idea that social currency is something that people earn from being active in a community, network, or social organization. Social Currency in lauded upon the recipient in many forms such as Google juice, respect, engagement, trust, re-tweets, reputation, merit badges, check-ins, tokens, Whuffie, wiggly worms, etc…

Regardless of what you call it, all social currencies have a very unique characteristic that differentiates them from a financial currency. Social currencies reward high integrity and punish low integrity.

Social Currency can be earned or converted:

Organizing a community around a common goal is serving a need that government and corporations do not have to fulfill in their “Social Charter”. So it has value.

  • Helping a neighbor find a job supplants the work of the government funded unemployment office.
  • Helping an elderly neighbor with their shopping supplements the Department of Health and Human Services.
  • Adopting a child alleviates expenditures in the foster care system, abortion, and possibly the courts and prisons.
  • Helping local vendors stay afloat by organizing a community of group buying or groupons reduces the demands on bankruptcy courts and social services.

Social Currency can also be eliminated:

  • Public servants and politicians who squander the trust of their constituents through acts of corruption and impropriety
  • Corporations who decimate local priorities in favor of Wall Street priorities.
  • Breaking the law, endangering others, neglect, fraud, breech of social contract .
  • Consumption far in excess of social contribution.

Take any issue and apply social currency

The health care debate is an excellent example. First, let’s apply a social currency to all of the people voting on the bill. Next, let’s apply a social currency to everyone arguing against the bill. Next, let’s apply a social currency to everyone arguing in favor of the bill. Let that count establish the burden of proof of the argument.

Next, let’s pay for Health Care Reform in social currency, not financial currency. That means people with a surplus of social currency receive health care at a certain rate. People with a deficit of social currency receive health care at a different rate.

Finally, compensation to health care providers would also be biased by a social currency. Providers with a surplus of social currency are paid at a different rate than providers with a deficit of social currency.

What about cheaters?, who pays these subsidies? how do you count it?, It’s a job killer, corporations will go bankrupt, losers still lose, Holy cow, this messes everything up!!!!

Actually, it’s not much different than how we allocate money on a credit scoring basis. It’s not any more difficult to count than the blood-money coursing through the veins of an unvetted financial / insurance system. Most importantly, constraining a Financial Currency with a Social Currency sets up a whole new landscape of benchmarks and incentives that accelerate innovation, in effect, printing new currency.

That’s what I mean when I say; “I’d Like to see some Social Currency in the Mix”


USocial = SUPER SPAM

moneyhappiness_vl-vertical-223x300USocial is now going after YouTube. These clever guy and gals have figured out a way to bypass the democracy of social media to bring is a new form of merchant class capitalism…SUPER SPAM.  For a small fee, you can get your message to the head of the line – in effect pushing the rest backwards.  Presumably for a bigger fee, you can get ahead of those who paid a smaller fee, and so forth.

Once the bastion of lobbyists and special interest groups, anyone with a few bucks can now pull themselves up the ladder by pushing other people down the ladder.  Once the domain of high powered PR firms and Marketing agents; just a few dollars cast among the USocial Gods delivers those long elusive eyeballs of the old radio/TV marketing paradigm.

Watch this one carefully kids.  Social Media has long proven uncontainable.  Saying that you can beat  social media at its own game is like saying you can repair a credit score.  Like a credit score, you can do more damage than good trying to steal what does not belong to you in an effort to boost your income.

Those eyeballs, those followers, and those “friends” do not belong to USocial and are therefore not theirs to sell.    They belong to you and I and we control them – or we don’t play.  If USocial keeps their client list secret, this would be the capital offense in social media space.

A Local Currency Primer-Comfort Dollars

Douglas Rushkoff has an interesting post, indirectly on how local currency can spur social capital.  As more corporate and governmental institutions fail to meet the needs of society, people will need a currency that they can trade among each other. If the dollar fails, the need will be dire.

The difficulties that will ultimately limit such enterprise is the inability to capitalize and securitize a social currency.  Conversational Currency solves this problem by demonstrating how social media, if organized correctly, can simulate many of the functions of corporations and government.  As such, people will ultimately trade the currency they trust most.

I like Douglas Rushkoff’s work.  I suppose the ultimate test of concept would be if he finds this post and contacts us to integrate The Ingenesist Project and Conversational Currency into his thought leadership.  Thanks Douglas!!

A Local Currency Primer-Comfort Dollars

Twitter Vetting = Twetting?

twitter-money

Picture Credit

There are 3 characteristics of financial instruments which make them tangible in a market:   They live in an inventory, they are exposed to vetting mechanisms, and they are subject to constraints.

Tangibility of knowledge:

Here at Conversational Currency we are constantly seeking examples where human knowledge behaves like a financial instrument because a true innovation economy will arise when all 3 characteristics are true for the ‘human knowledge’.

We believe that the platform for the Innovation Economy will be Socialized Media; not corporations, or government.  So we get excited when we see posts like this from Brian Solis via Matt Marshall regarding Twitter’s monetization plans.

Twitter to becoming the vetting mechanism for business intelligence.

Think about the credit score; a list of independent variables run through an algorithm that correlate with the likelihood that you’ll fulfill a financial obligation. I’ll leave the rest to your imagination…read between the lines:

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By Brian Solis:

Over at VentureBeat, Matt Marshall is reporting that Twitter will introduce its first revenue-generating series of premium services.

In an interview with co-founder Biz Stone, it was revealed that Twitter is in the initial phases of introducing commercial accounts to businesses seeking detailed analysis of activity in and around the brand on the popular network as well as other data not available to Twitter users directly.

In the next phase, Stone indicated that Twitter may also debut a new set of corporate-specific API’s that would allow the company to insert a customer layer over the profile and other aspects of the network to more effectively engage with the community, while increasing strategic visibility.

Stone revealed to Marshall, “Twitter will still be free for everybody and we’ll still tell them to go crazy with it. But, we’ve identified a selection of things that businesses say are helping to make them more profit.”

He further elucidated, “We want to build statistics or analytics that let users know — ‘How am I doing on Twitter?”

This news is the latest in a short series of information bursts following the company’s announcement that it is rolling out a new set of APIs to integrate geo-location into Tweets, mostly likely to contend with rising competition of geo-location networks such as Loopt and Four Square and also as a potential generator of hyper-local advertising revenue.

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Ponder this:

Social value lives in an emerging inventory that is ever increasing in granularity.  Corporations have very little control over public opinion –  except in retrospect – which amounts to a constraint on social value.  Now, Twitter is the vetting mechanism.  Wow, we’re getting closer to the next economic paradigm every day.

The implications are vast.  Now we shall ask a few question:

At what point will Corporate Innovation reflect social priorities over Wall Street priorities?

At what point will Wall Street Priorities reflect Social Priorities?

If the Wall Street Manifesto is to “return shareholder value” and Twitter is vetting “social values”, what is the value of Twitter and who is really holding/voting those shares?


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The Trojan Horse; A Classic Social Fraud

Periods of change in any market open the doors for abuse as control systems often lag behind the waves.  This is especially true for social capitalism where the social contract is changing rapidly and the enforcement mechanisms are largely non-existent.

All markets must have effective vetting mechanisms in order for the market to be viable.  If the game is not fair – real investors and real entrepreneurs don’t walk, they run…away.  While much fraud is obvious and predictable, the most damaging is the type that nobody sees coming but can destroy the standard of trust for everyone, forever, like the Trojan horse.

Hypothetical Case Study:

A self-proclaimed innovation consultant runs a blog out of anywhere USA.  They have a catchy domain name and their ranking is unusually high for a 5 month old blog with splashy but infrequent articles.

In the spirit of the X-prize, the blogger promotes an Innovation Contest offering $60,000 dollars worth of his company’s “Marketing Consultation” services as a prize to the next innovation that will change the world! … as judged by a “panel of experts”.  The blogger encourages all entrants to send their social network to vote up their innovation as this will weigh heavily into the judging.  Many people submit their work and diligently mine their Facebook and Linkedin networks for the vote.

The contest ends and the winning idea earned zero external votes but it is in an industry that is very popular in mainstream media and slated for government stimulus.  However, it is clearly not up to par with many of the other entrants.  Upon inquiry, the blog author does not specify the criteria for judging, he does not itemize the prize, he does not publish his “panel of experts” and he does not post any dissenting opinions or inquiries submitted to the moderated comments.

A few days later, a press release appears on Google news; “$60,000 dollar innovation contest prize awarded for breakthrough in targeted industry”.  Leading tech media pick up the story and the “consultant” is hailed for defending the struggle of the unsung heroes of the innovation economy.  It appears to the contestants that the consultant is promoting himself at their expense.

So, what’s wrong with that?

First; for all of the innovators who submit themselves to judgment and expend their social capital on votes, the integrity of the contest must be bullet-proof.  The definition of the objective, the judges, and judging criteria must be specified absolutely. Otherwise, good ideas will not be shared.

Second; if potential sponsors of a legitimate X-prize-type contest are challenged in their sincerity to promote world-changing innovation, and instead are accused of self-promotion and media bias, a tremendously valuable resource of the innovation economy will be squandered.

Finally; if a person’s social networks are mobilized to vote in any type of contest – they must know that the time they invest will be respected and valued or they will no longer participate in other contests.

To this day, the clever ruse of the Trojans remains the fraud of choice for new market technologies. It has also marked the standard of trust that we hold forth in our relationships and invitation to our inner circle. Sharing of one’s friends is a deeply intimate act of faith and trust many times greater than sharing one’s ideas. The caregivers, those who hold forth the willingness to nurture that trust, must be qualified as stewards of the public endowment of social capital, creative capital, and intellectual capital.

Social Capitalism depends heavily on the function and performance of communities. A “paranoid bias” could be vastly damaging – possibly constraining the next great paradigm of economic development from achieving critical mass.   Social Capitalism is not a game, it’s serious business.

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