Pigzbe is reinventing the piggy bank with blockchain-based hardware. The new tech product aims to make it fun for kids to learn about digital investment and cryptocurrency with a cute multi-purpose device that resemble’s a pig’s snout.
The company’s ICO has now gone live: a token sale has begun, and investors will receive Pigzbe’s innovative hardware in addition to the project’s native Wollo token:
The Pigzbe ICO is live now. Head to https://t.co/MYgA7CHNnL to buy Wollo and get your hands on our unique Pigzbe devices
Want to learn more about Pigzbe? Try these:
🔦 Whitepaper: https://t.co/3C7YbGSpnT
🖥 Videos: https://t.co/3oy3i30KKh
🖥 Team: https://t.co/qM5e6EXKU2 pic.twitter.com/Vd0OR4Bpbl
— Pigzbe (@Pigzbe) September 10, 2018
Pigzbe advertises itself as a way for children to learn how to handle pocket money in a modern world that relies on electronic payments. It is easy to give your kids a small allowance that consists of spare change, but, as Pigzbe notes, “to really prepare children for the financial world of tomorrow, the ideal answer is to transfer it electronically rather than relying on coins.”
Yet it is not so easy to send tiny amounts of money between bank accounts due to prohibitive costs and transaction fees. Pigzbe, however, makes use of the blockchain’s microtransaction capacities to provide a child-oriented digital financial system. The system makes use of the Wollo token, which is based on Stellar Lumens, to virtually eliminate transaction fees.
Suggested Reading : Learn more about Stellar Lumens in our beginner’s guide.
Hardware and Software
Pigzbe’s hardware enables children to spend and save money sent to them by parents and other adults. Pigzbe Pink serves as a notifier that indicates the status of an account. The device also serves as a game controller which promotes saving: children can play in a virtual world that expands as they save money.
The ICO is offering this hardware as a reward to investors who spend $600. Investors who spend $1200 will also receive Pigzbe Black, a cold storage device for adults to keep their tokens in.
An app will also enable children to view their account balance and spend their money online. An optional card (similar to the Revolut Metal debit card) will also enable spending in person.
These will be controlled by parental controls that ensure children are buying appropriate goods and services. The app and card can be used without owning a Pigzbe device.
Is There A Market For It?
Although it may seem to be a novelty, the Pigzbe whitepaper notes that there are 2.2 billion children worldwide and that the market for edutainment products is projected to grow to $23 billion by 2021. The team reportedly has experience marketing internationally: “as an aggregate, the team has shipped millions of products across 180+ countries.” With luck, Pigzbe’s unique vision will distribute the product far and wide.
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