We envisage a number of potential applications of complementary currencies backed by knowledge. We name these currencies wits after the knowledge that make sense for a community. This knowledge needs to be conveniently packed so that it could be used as money.

Our research consists in the design of concrete examples of wits so that we could imagine what would be their impact in society and how could they be designed. A first one of these examples are the cent as the conversion of the scientific citation into a wit.

The cent has interesting properties and benefits. There are a number of papers that tell that cent should promote scientific cooperation, further peer review as part of the appraisal of papers, while making the publication process more transparent and efficient. The cent is not convertible into legal currency in order to maintain fair access to publications by all scientists. In the paper we talk about the issues in the design of a proper complementary community currency for scientists, which is not straightforward as for example in the USA alone, many failures have been reported.

Under these constraints, it seems that only the scientific community itself should have the right to generate (supply) its own currency to make it succeed. That is why citations are a good candidate to wits because they are spontaneously generated by the scientific community for the scientific community.

There are more examples of wits: the QA (pairs of question-answer), the tags of the social web, and the intelligent agents. These new candidates of wits need to be considered for future researches and introduced in the workshop.