My-Currency Launches an Online Housing Exchange at DEMO 07

DEMO 07, PALM DESERT, Calif., Jan. 31 /PRNewswire/ -- My-Currency today announced an online community where professionals and consumers collaborate, predict values, and share information, knowledge, and expertise. The company is focusing initially on housing, but plans to rollout other verticals soon.

My-Currency is an online housing exchange where consumers are empowered through CrowdValue(TM) to view, define, and interact with true street values. Moreover, professionals now also have the opportunity to earn and market their reputations -- simply at the cost of participation. Using an online "futures" tool, agents can estimate the true value of a property, and when it sells, those with the best predictions strengthen their reputations. Agents can further show their expertise by submitting articles and insights by posting on My-Currency wikis, blogging, answers, and other social applications. My-Currency brings together these contributions to engender community trust and promote the reputation of professionals.

The Internet is the first stop for most consumers in their real estate search. There were approximately $80 billion in real estate commissions last year alone. However, 67% of internet leads result in a sales conversion rate of 0% per year. More importantly, housing consumers declare "reputation" as the single most important consideration when hiring an agent.

"The best way to understand values, direction, and market dynamics is to create a community where buyers, sellers, and professionals can interact, trade, and share expertise," said Karim Tahawi, Founder and CEO of My-Currency.com. Tahawi, a veteran derivatives trader and former Vice-Chairman of the Pacific Exchange continues, "This doesn't stop with the exchange of dialogue and information, My-Currency also allows professionals to showcase their knowledge to build trust and 'reputation,' and with it, clients."

"Reputation is the critical enabler of all business relationships and the facilitator of trusted transactions," said Chris Shipley, executive producer of DEMO. "My-Currency goes beyond simply aggregating online popularity; it provides an entirely new platform that generates tangible reputation in a transparent, credible, and impartial manner using a time tested mechanism - the market. For consumers, the site brings unprecedented clarity to the often painful housing search by providing an online home base for information, community and access to trustworthy experts. For professionals, the site allows the conversion of knowledge and reputation into clients."

Gary Beasley, Former President and CFO of ZipRealty, stated, "Buying a house is the biggest financial investment many consumers will make in their lifetime. Consumers look to professionals they can trust, however, the anonymity of the Internet makes trust difficult. My-Currency changes the landscape by connecting proven experts with savvy consumers in a neutral, fun, and content-rich community."

My-Currency is one of 68 innovative products hand-picked to launch at DEMO 07, January 30 - February 1, in Palm Desert at the JW Marriot Resort and Spa.

About DEMO

Produced by Network World Events and Executive Forums, the semi-annual DEMO conferences focus on emerging technologies and new products. DEMO conferences have served as launch pad events for companies such as Palm, E*Trade, Handspring, and U.S. Robotics, helping them to secure venture funding, establish critical business relationships, and influence early adopters. For more information, visit http://www.demo.com/.

About My-Currency

Founded by Karim Tahawi in 2006, My-Currency is a privately funded company set to launch its initial product at the DEMO conference on Jan. 30th. The company is located at 625 2nd Street in San Francisco. My-Currency is seeking Series A financing. Please contact karim@my-currency.com for additional information.

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  Alison McNeill, FutureWorks
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  alison@future-works.com