majamba : rewards for doing good through social currency

By Team YS|16th Feb 2011
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majamba LLC is a swiss company working with visionary individuals, companies, not-for-profit organizations who want to create meaning around the world. Majamba is co-founded by Jeannine Srivastava & Rajiv Srivastava. Rajiv speaks to YourStory about this platform.Tell us more about Majamba

We believe that creativity is only unleashed when challenges are great and the vision is bold; success can be only achieved through open collaboration and mutual respect; longterm and sustainable relationships can only be built where all participants win and we believe that the only way to build Social Currency is to do good.

We like collaborating with companies and professionals from all over the world on specific projects. The majamba Alpha project is a collaboration between Jeannine Srivastava, Joe Hoyle, Marc Sublet, Rajiv Srivastava and Tom Willmot, who leveraged building blocks from California, England & Switzerland.

Majamba, the name?

majamba means giving up something small to find happiness.

social currency…….??

So far, doing good has been limited to committed charities and social workers (we salute them) and a handful of billionaires (we admire them) who were able to develop a portfolio of good projects around the world and the rest of us could only sit on the sidelines and give donations or sometimes volunteer locally.

Now there is another way - majamba! We believe that you do not have to be a billionaire to build a portfolio of good projects or let geography limit your impact. So we have developed a peer to peer or social virtual currency called majamba which everyone (yes, including billionaires) can use to reward or challenge anyone. Here is the best part - majambas can only be used for further promoting good. As a result, you know that the person who receives your majambas can only use it for further doing good (majamba is a social currency).

Tell us how this will work for each of the target groups

Majamba is a global incentive platform for doing good locally by connecting visionary individuals, corporations, government agencies and non-governmental agencies. We are targeting two groups - the first group is made up of project or challenge initiators and the second group is made of volunteers, advisors and challenge solvers. As a member you can initiate projects and you can also support someone’s project. Almost anyone can be a member and our primary target audience are - students, professionals, artists, bloggers, charity workers and entrepreneurs.

Here are some typical use case scenarios:

  • Energize your supporters: Start something good today and inspire others to contribute to your vision using majambas. Reach out to your friends to organize your project/event and reward them with majambas.
  • Engage your followers: You have decided to change the world and you realize you will need supporters. Now you can tee up majambas as a reward for anyone who will respond to your challenge.
  • Volunteer, Advise & Solve Challenges: Volunteer for good projects, advise people you believe in and solve challenges, receive rewards and increase your social capital.
  • Build a Portfolio of Good: You can follow interesting people & projects around the world to build a portfolio that represent your unique vision of doing good.
  • Reward Good: You can encourage people around the world who are doing things you care about. The majambas you give can only be used for doing good.
  • Co-create anywhere: Co-create with your friends or customers and together support local communities overcome challenges.

How did the idea come about?

We saw how social network companies are benefiting from the “network effect” – as more people join the network, the utility of the network goes up exponentially. We also observed how people purchase virtual currencies in games to buy virtual goods. Another trend we noted was that people who want to do good want to be more engaged and follow who, how, when and where is using their resources.

So we asked ourselves – how can we put network effect to good use; how can we create a virtual currency that allows people to reward real good and limit the use to just one purpose – rewarding good; how can each one us make a difference; and how can the virtual currency be social and scalable. That is how majamba, the world’s most loved social currency was born. Majamba is a global incentive platform for doing good locally by connecting visionary individuals, corporations, government agencies and nongovernmental agencies.

Visit majamba here : http://majamba.com/

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