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Social networking and micro-blogging website Twitter now has a currency, the twollar. Perfectly designed as a credit crunch currency, the twollar, at the outset of which at least, costs nothing. Every Twitter user starts with 50 twollars; 10 twollars are equal to $1, but this value only takes a monetary form when twollars are bought from charities.

Twitter users can give twollars to each other (either as a mark of appreciation for a particularly good tweet, or as a gift, etc.), but only charities can receive money for them. They can sell them for hard cash to users who want to replenish their supplies and keep giving to friends and other charities.

The concept has already raised more than $1,500 for Charity Water, with Camfed and Vitamin Angels also running successful fundraising campaigns.

Although, there are questions, as to whether giving twollars is actually generosity – after all the first 50 cost nothing. Perhaps the only truly generous act is in giving one’s precious last twollars rather than his first 10 of a stack, or by buying some more.

However, keeping all the questions aside; it is a way to raise awareness of one’s favourite charities. The twollars one gives are then available to be bought by another Twitter user (or even bought back the one who gave it), from the charity.