Pigzbe Uses the Blockchain to Help Kids Earn and Save 'Wollo'
Laura McQuarrie — April 24, 2018 — Tech
'Pigzbe' prides itself on being "a piggy-wallet not a piggy bank" for kids that's powered by the family-friendly cryptocurrency Wollo.
The Pigzbe system is part digital and part physical, with a tangible pink controller that interacts with the app and games that are centered around spending and saving Wollo.
As well as being valuable for teaching kids the basic principles of money management, Pigzbe also sees itself as a way to shape "families as micro-financing networks." With Wollo, kids can earn an allowance, receive one-off money gifts and earn rewards for completing chores. As Wollo is a real cryptocurrency, it can be safely and securely spent by kids and families in online, offline and retail applications where possible with a tangible Wollo card that converts the tokens to fiat currencies.
The Pigzbe system is part digital and part physical, with a tangible pink controller that interacts with the app and games that are centered around spending and saving Wollo.
As well as being valuable for teaching kids the basic principles of money management, Pigzbe also sees itself as a way to shape "families as micro-financing networks." With Wollo, kids can earn an allowance, receive one-off money gifts and earn rewards for completing chores. As Wollo is a real cryptocurrency, it can be safely and securely spent by kids and families in online, offline and retail applications where possible with a tangible Wollo card that converts the tokens to fiat currencies.
Trend Themes
1. Kid-friendly Cryptocurrency - Companies should explore integrating digital currencies into products and services geared towards children as a means to teach financial literacy.
2. Blockchain-based Piggy Banks - Opportunities abound in the market for blockchain-powered piggy banks that provide kids with tangible and interactive ways to learn about money and saving.
3. Crowdfunding for Families - The rise of micro-financing networks within families presents an opportunity for businesses to create crowdfunding platforms aimed at groups like parents, relatives, and close-knit communities.
Industry Implications
1. Finance - The finance industry can benefit from developing digital currency products and services designed with children in mind to build a culture of financial responsibility from an early age.
2. Education - Educational institutions may want to create platforms, curriculums, and lesson plans that incorporate cryptocurrencies and blockchain technologies to teach students about money management, investment, and personal finance.
3. Retail - Retailers can seize the opportunity to develop flexible payment systems that accept cryptocurrencies (like Wollo) or create their own branded digital currencies that customers can accumulate and spend in-store and online.
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