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Wibiki is an ad blocker that lets you replace ads with a mini link-sharing board that's been created by you and your friends.
There are two options for getting wibiki to block ads: change your DNS server settings manually, or install the auto-configuring software from wibiki's site. From there, ads known to the server are blocked. You can leave the space blank, or replace it with a wibiki box. The format of these boxes are very similar to a Google text ad, with a header link in large and bold font, and smaller text for a description, and the user that has submitted the link. Clicking on the link will take you to a wibiki page where the information is simply enlarged. Click on the header from this main page, and you'll be directed to the original source page. Click on the username and you'll see their profile, listing all of the links they've submitted.
Wibiki's can be made public or private, and other users can submit to a wibiki directly from the page you've placed it on. Private wibiki boards in this manner allow for the formation of groups, and are called buddy boards. There seem to be other things you can do with wibiki boards, and the company has even created a board that pulls the community public timeline from Twitter. This will raise some major red flags for the way in which it's blocking ads and replacing it with widgets. In all, Wibiki looks like trouble just waiting to get caught. See here for a couple other ways to block ads.