Submitted by mk on 4 February, 2010 - 22:24
"Kwedit", the name that mimics "credit", is new payment method for digital life.
From TechCrunch, Kwedit Launches: The First Completely Unreliable Payment Network
Here’s how Kwedit works: they let users take on fake debt instead of paying for virtual goods with real money (or via scammy or legitimate offers). A user promises to pay later. It’s not an enforceable promise, and there is really no consequence if a user doesn’t pay. But there are built in incentives to pay it off, and Kwedit expects some percentage of people to actually do so.
