The Pigzbie App promotes cryptocurrency for children with its own currency called Wollo. Wollo is the first cryptocurrency for kids and is powered by blockchain. Its predecessors include Bitcoin, Litecoin, Etherium and other altcoins that use the same technology.
The Pigzbe app functions as a digital piggy bank or a piggy wallet that enables parents to send virtual money to their children instantly and globally. It was created by entrepreneur Filippo Yacob in his quest to find a digital piggy bank wherein he can make small payments for his son.
Wollo is described to be a “family-friendly” cryptocurrency designed to suit family transactions. The app allows small payments, such as gifting or rewarding kids for chores and sending of pocketmoney using Wollo. Pigzbe App CEO Yacob believes that learning about money early is key to developing positive financial habits but it can be impossible to do if we have become a cashless society and with our current banking products.
The app works by turning gifting and saving into a game while allowing families to transfer money as little as a penny. It comes with a pink controller for children to control the games as well as receive notifications and a black controller for the parents’ offline storage of their Wollo coins. A card that can be utilized for online and offline shopping is provided but pre-programmed parental control settings can restrict them from using their money on alcohol, gambling, smoking and other adult items. An advantage of cryptocurrency for children is the use of blockchain so parents can see where their children’s money is going. Physical money can’t record transactions the way cryptocurrency and blockchain can.
A child’s early cryptocurrency experience may stir different reactions from adults but it might just be a way to get a child interested in learning technology and a soft introduction to cryptocurrency as the money of the future. The app’s parental controls restrict children from spending their money on stuff that are not good for them thus helping parents in protecting their kids. The Pigzbie app can serve as a valuable tool up until their kids are old enough.
As much as the Pigzbie app can help teach children about managing their money, adults on the other hand have Orozu to help them find great opportunities to make their lives better. Orozu invites adults out there to a life-changing exploration of the new wave of the future!
