In the fast-changing world, one has to be fast enough to walk hand in hand with changes to stay relevant in the world. It is as much applicable to men as it is to next generation children of the society, which is gradually becoming cashless.
With the world of finance changing, it would be a good time to evaluate whether young children need a piggy bank or a cryptocurrency wallet. The latter seems to be the future and growing more popular.
Pigzbe, a new startup, adds to the list of cryptocurrency wallet. Though for children age six and up. Pigzbe is a ‘piggy-wallet’ for children, parents, and families, powered by its own family-friendly cryptocurrency called Wollo.
The hardware wallet allows kids to collect and store Wollo, while the app features games that revolve around saving and spending.
It teaches children about the principles of cryptocurrencies and other forms of money while giving families the chance to become a microfinance network of their own.
It blends cryptocurrency with gaming and hardware.
The app pairs a physical device with an app that turns gifting and saving into a game, while allowing families to transfer as little as 1p between one another globally.
Founder of the platform Filippo Yacob, in a process to find a better way to introduce money and finance to his son, incorporated a digital piggy-bank for a new generation of children in January 2018.
“It allows children to learn saving, modeling, exchanging, and spending. Parents, grandparents, can participate in it and pay reward and allowance in ultra-modern way. Kids can also set tasks for themselves, which are then rewarded by others, encouraging entrepreneurial thinking,” Filippo was quoted as saying by Quartz.
Children can pay for products in the real world with a Wollo card that converts the tokens to fiat currencies.
Pigzbe is a London-based fintech company that enables micro-financing for families worldwide by giving parents and children access to products and services that
accelerate financial literacy.
The company mission is to give families the tools to help children become financially knowledgeable, confident, and independent.
Pigzbe privately financed by an undisclosed number of private investors that also include a former entrepreneur from Sturgeon Capital and an ex-MD of Goldman Sachs. The firm plans to launch a crowd-sale in May-June 2018.
What this startup is doing, holds potential to bring a lot of interesting changes to the world of cryptocurrency and finance. With the crypto-economy growing at a phenomenal rate, it is estimated that by 2020 it will exceed $3 trillion. It will represent 10% of the world’s GDP by 2025.
However, cryptocurrency received a lot of flak from many central banks of the countries such as Russia, China and India.