Ven (currency)
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| Unit | |
|---|---|
| Symbol | VEN |
| Denominations | |
| Banknotes | None |
| Coins | None |
| Demographics | |
| Date of introduction | 4 July 2007[1] |
| User(s) | None |
| Issuance | |
| Private issuer | Hub Culture Ltd. |
| Website | ven |
Ven (symbol: VEN) is a private digital accounting unit and internal credit system issued by Hub Culture Ltd. Launched in 2007 by promoter Stan Stalnaker, the unit is presented as a representative money system for the Hub Culture social network. The company claims Ven's value is derived from a proprietary, weighted basket of fiat currencies, commodities, and carbon credits; however, as the ledger is centralized and closed to public audit, there is no independent verification of these reserves.[2] While marketed as the "first digital currency" to trade in regulated Forex markets (notably a brief stint on the LMAX Exchange in 2014), it lacks liquidity on major public exchanges and primarily functions as an internal medium of exchange.