WOM is general-purpose rewarding platform based on a voucher exchange system.
Many actions and activities done by individuals contribute to the common good and have an intrinsic social value, an effect known as “positive externalities” in economics. WOMs are digital vouchers designed to recognize the value of actions having such a positive effect and to provide a tool to reward these positive externalities.
WOM stands for “Worth One Minute”: each WOM voucher rewards one minute of socially-valuable effort performed by an individual. Vouchers are fully anonymous. They only store data about the social purpose for which they were earned, in addition to location and date where they were generated.
WOM vouchers do not have a value in “real” fiat money. They are proof a socially-valuable effort that an individual contributed towards a shared cause. Each voucher keeps track of the kind of effort it compensates.
How do I earn WOMs?
WOM vouchers are gained by voluntarily performing socially-valuable work. Each minute of effort is worth one WOM. For vouchers to be generated, the performed activity must be officially recognized by the WOM platform.
In order to be recognized, an activity or initiative must be evaluated as being socially-valuable and thus approved by the WOM platform’s ethical committee.
How do I use my WOMs?
Business owners, shopkeepers, public entities, or any other private citizen (generically called “merchants”) may freely decide to provide goods, service, or discounts to owners of WOM vouchers. To do so, they create a “WOM payment”, which allows them to choose which kind of effort to reward: WOM vouchers can be filtered by purpose, location, and time. Goods, services, and discounts can be determined freely by the merchant.
By accepting specific kinds of WOM vouchers, merchants can indirectly contribute to a social campaign, incentivizing citizens contributing to the shared goal with their voluntary efforts. Also, merchants can increase their visibility to the community working towards the shared goal.
How does it work in practice?
WOM vouchers are managed by a mobile app, the “WOM Pocket”, which is installed on a personal device by volunteers. The applications allows volunteers to gather their vouchers, to store them, and to spend them.
Merchants use a different application, the “WOM POS”, or a custom integration software. These software components allow merchants to create new transactions, applying filters to collected WOM vouchers (filtering on purpose, place, and time) in order to accept only WOMs that are more coherent with their own motivations and aims.
Owners of a social activity or an initiative with a social aim, such as non-profit organizations, associations, or private individuals, may contact firstname.lastname@example.org in order to be evaluated by the platform’s ethical committee and to be added to the list of WOM Instruments that can generate vouchers and reward contributors.
Stay in touch! 📫
To develop new WOM integrations, POS connectors, or any other inquiry, please contact email@example.com.