This is pretty out there, but perhaps finally a great way to harness the intellect of social networks.

A group called Kluster have started an online community for people who like to tackle projects and solve problems. If you have a great idea you can submit it to the kluster group and other members of the community can add to the idea until it becomes a fully fledged product. Along the way those members who contribute earn kluster dollars. If the idea is realised those kluster dollars can turn into real cash.

It’s being used at the TED Conference (starting today in California) to create a product, from idea to prototype, in four days.

The idea was started by a 21 year old entrepreneur, Ben Kaufman . He used to make iPod accessories, and his mode of operation was to get the shop owners and users to solve problems – like, what product he might design next, and how he could improve current products. Move that idea to the web and you have a new start up.

Great idea, everyone wins.