Traditionally, finance management has been the preserve of adults. Now, a revolutionary service called Pigzbe seeks to change this culture by teaching children how to use cryptocurrencies.
We’re proud to officially announce our partnership with @Pigzbe!
Together, we hope to incorporate our #innovative #technologies to educate the next generation🧒about the benefits of money management and the future of finance.#BTC #LTC #XRP #ETH #WLOhttps://t.co/Krt4wJTqhD
— Wirex (@wirexapp) November 13, 2018
As the days go by, the adoption of digital currencies is increasing significantly. The Pigzbe piggy wallet is intended for children aged above six years old. As mentioned above, it aims to educate kids on the concepts of virtual currencies. The piggy wallet is based on the Wollo (WLO) token.
Besides Pigzbe, the other party involved in this initiative is Wirex. In fact, Rajiv Sainani, a senior executive at Wirex, revealed that the company will soon integrate WLO tokens into its app. Later, the Pigzbe piggy wallet will be accessible using the Wirex Visa payment card. This project will prioritize Europe, followed by expansions into Japan and the US.
The Origin Of Pigzbe
The main contributors to the establishment of Pigzbe are Jon Marshall and Filippo Yacob. The others were mostly former staff of leading tech companies, including Google, Apple, Visa, and PayPal.
Ultimately, Pigzbe intends to equip minors with knowledge on cryptocurrencies, as well as create a global microfinance network where families act as nodes. These families will receive a solution that solves the issues faced with current digital piggy banks, which are characterized by slow and costly transactions. Moreover, cross-border transactions are time-consuming due to the several requirements.
As of now, Pigzbe operates out of Chiasso, Switzerland and London, England. Between September and October this year, the company conducted an ICO crowdsale where it managed to raise the targeted $8.85 million.
The Pigzbe Piggy Wallet
The piggy wallet is a hardware storage device that works together with an app and a payment card to increase the mainstream use of digital currencies, particularly among the younger generation. The app comes in two variations, one designed for parents, and another for children.
The Pigzbe parents’ app has an array of uses, with the primary use being the sending of pocket money to children. In addition, it enables parents to teach money management skills and set saving goals. A piggy wallet that is linked to the parents' app gets notifications every time an action is completed.
This features a highly interactive interface to simplify the learning process for children. Furthermore, it allows kids to set their respective saving goals. If they reach their targets, the WLO tokens can be easily exchanged for fiat money.
Collaboration With Wirex
In the near future, Pigzbe products will be integrated into the Wirex cryptocurrency payment platform. As a result, Pigzbe services will be accessible using Wirex-issued Visa cards. These cards enable users to easily exchange crypto to crypto as well as crypto to fiat.