At Google there's an internal badge system that lets anyone award any badge they create to anyone else. Once it went self-service it became really successful. The badges appear on corporate profiles. Someone even figured out that you can post funning badges on Larry and Sergey's page.
Yes there are other badge / achievement systems, but they are all local / internal and don't reach out to the world. That s what Badge Fever is here for. It creates the ultimate service to create, collect and display badges.
We have also in future plans the option of connecting accounts such as google, foursquare, dyi and others to keep the badges truly global.