How does Ven work compared to Bitcoin? The Ven FAQ states that Ven is a basket of currencies, but how is it determined? Is it done privately or in the style of a committee? What trade offs are there in relation to Bitcoin?

Links: official site, wikipedia entry
It appears to be completely unrelated (hence the close vote I just casted).


  Ven is a digital social currency used to share, buy, sell and trade in
  the world of Hub Culture and beyond. The value of Ven floats against
  other currencies and the price is based on a basket of currencies,
  commodities and carbon futures.


,


  Can I trade my Ven back to national currencies like the Dollar, Euro or Pound?
  
  No


Apparently it's just a bad-old centralised virtual currency.

Nothing new, nothing special, nothing relevant. And definitely nothing related to Bitcoin.

since I just skimmed over it, I might have got something wrong, but as far as I've read that's unlikely