The Social Credit Card [presented at IdeaBlob]

Posted by ED

IdeaBlob started out as an internal collaboration/innovation engine. It has since been turned outward to benefit from remunerated crowdsourcing (you get $10,000 if you win the contest). Since I'm always whining
about the fact that fed taxes don't account for hours donated to NGOs/NPOs I
thought this was a cool approach to track "social capital".
This would be an excellent way to do a "census" of how much healthcare related volunteerism goes unnoiticed/uncompensated. Why, yes, open source/standard healthcare programming would count. Think also about the impact it could have on HSAs — or a whole new class thereof. Oh, and if you wonder how to implement it just determine at what rate a federal employee would be compensated to complete the same or similar task. Also, accountants could volunteer their time to NGOs/NPOs to help track these things (and of course the shift to international accounting standards and adoption of extensible business reporting language and standard universal charts of accounts could be utilized as well).

The Social Credit Card

Credit card companies and banking institutions develop a social credit
system whereby activities like volunteer hours are tracked and
compensated. Every time we make a social contribution (helping a
neighbor, volunteering at a homeless shelter, donating to charity,
etc.) we accumulate points that appear on our monthly statements. These
points are then redeemable, similar to frequent flyer miles, for the
purchasing of goods or services. The points can also be used to pay
down debt or donated to other individuals or charities as a financial
contribution. By combining social with financial capital we create
incentives for good works and a more comprehensive picture of our net
worth.