We’re thinking Blippy may be just a proverbial blip on the radar. The passive social networking site (meaning, it updates your status for you) tells your friends how much you’re spending, and where. It  updates a twitter-like status about your credit card purchases.

The good:

  • if you’re trying to save dough, this could be a positive means of accountability – you spend frivolously and your friends immediately know it.
  • couponing and bargain-hunting gone wild. If your friend found something on sale, this could be a valuable alert.
  • a marketer’s dream. This takes ‘keeping up with the Jones’s’ to a whole new level.

The bad:

  • it requires you to store your credit card information and login information on their site. Um… is our memory for corporate financial data leaks really that short? Are we fool enough to divulge this? If so, maybe we deserve to have our identities stolen…
  • surely no burglar, criminal, or otherwise mischievous soul would ever use this for ill. And if you believe that, I have a bridge to sell you.
  • are we really so materialistic and driven by instant gratification that we need a whole new social networking site to help retailers manipulate our spending habits?

Here at Tricerion, we think a site like this has the potential for more harm than good. It would certainly be useful to hackers to gain access to the data stored there, and we haven’t seen anything from Blippy to allay our fears about their site security. Maybe we’re just overcautious (or maybe we just know who we’re fighting really well).

How about you? What do you think of Blippy? Would you blip (or is it bleep? maybe bleet?)?