Home / Crypto Currency / Cryptocurrency Wallets for Children Are a New Market Ready to Be Explored

Cryptocurrency Wallets for Children Are a New Market Ready to Be Explored

The world of finance as we know it is changing, which could have some unexpected consequences. Now is a good time to evaluate whether young children need a piggy bank or a cryptocurrency wallet. It seems the latter option is growing more popular, although it is far from a mainstream trend.

The Cryptocurrency Wallet for Children

It is anything but easy to introduce new adults to cryptocurrency in this day and age. Starting a conversation about Bitcoin or altcoins is not all that easy, even though it certainly has a lot of potential. At the same time, one has to admit this is by far one of the most intriguing financial topics as of right now. It is even a somewhat hot topic among children and young adults.

More specifically, there is growing interest in making cryptocurrencies more accessible to children. This does not mean underage individuals will have an easier time buying Bitcoin and altcoins, but giving them a cryptocurrency wallet at an early stage can certainly introduce some positive changes along the way. Starting a meaningful conversation will always remain a bit difficult, however.

Pigzbe, a relatively new startup, claims to have the answer to this problem. More specifically, they’re targeting children with their family-friendly cryptocurrency which lets anyone collect tokens. It teaches children about the principles of cryptocurrencies and other forms of money, while giving families the chance to become microfinance networks of their own.

Although this particular company doesn’t pay much attention to existing cryptocurrencies, the concept still holds a lot of merit. Parents can directly reward children with the “21st-century version of money” and help them practice proper financial habits. The Wollo token is the native currency of this ecosystem, yet it’s probably a matter of time until we see a Bitcoin-based version as well.

It is evident ventures like these can be very successful in the long run. Bringing cryptocurrency to the masses will not be easy, but involving parents and their children is definitely the right way to go. If a similar venture were ever created for Bitcoin or any of the top altcoins, interesting things would be bound to happen.

This will certainly bring a lot of interesting changes to the world of cryptocurrency and finance. There is a growing demand for cryptocurrency as of right now, and even children are not immune to this paradigm shift. While it remains to be seen if Wollo will ever gain any traction, there is no denying that Bitcoin and Ethereum will succeed in the long run.

Read more

Check Also

Amazon Reveals Blockchain Templates for Ethereum and Hyperledger Fabric

At the end of last week Amazon revealed its blockchain templates, which the company claims will make it easier for developers to create blockchain-based projects. Amazon Web Services (AWS) “blockchain-as-a-service” platform is set to compete with similar projects from Oracle, and IBM. Amazon Web Services AWS blockchain templates give AWS users working on blockchain projects a faster way to set up two versions of the technology, on the Ethereum blockchain or the Linux Foundation’s Hyperledger Fabric. The launch comes six months after Oracle unveiled its cloud service built on the Hyperledger Fabric and about a year after IBM announced its own Hyperledger-based blockchain platform. Both Ethereum and Hyperledger Fabric are popular among developers — the former is used by hundreds, if not thousands, of blockchain-based services. This move further into the world of blockchain, Amazon hopes, will help the company complete with its competitors: IBM, which is one of the leaders in blockchain development, reported $5.5 billion in revenue from its cloud platform in the fourth quarter of last year. For the blockchain industry, having the support of Amazon — one of the largest and farthest reaching companies in the world — could be considered to be a huge vote of confidence for the technology. “AWS Blockchain Templates provide a fast and easy way to create and deploy secure blockchain networks using open source frameworks,” Amazon said. “Blockchain is a technology that makes it possible to build applications where multiple parties can record transactions without the need for a trusted, central authority to ensure that transactions are verified and secure.” AWS’s Jeff Barr In a blog post about how to use its blockchain templates, AWS vice president Jeff Barr acknowledged blockchains general lack of clarity by referencing a 1976 Saturday Night Live sketch about Shimmer Floor Wax, a floor polish that is also a dessert topping. In the skit, a couple is fighting over whether a product is a cleaning product or dessert, and although it might not be obvious, it’s actually both things at once. “Some of the people that I talk to see blockchains as the foundation of a new monetary system and a way to facilitate international payments. Others see blockchains as a distributed ledger and immutable data source that can be applied to logistics, supply chain, land registration, crowdfunding and other use cases,” Barr wrote. “Either way, it’s clear that there are a lot of intriguing possibilities and we are working to help our customers use this technology more effectively.” This is Amazon’s latest move into blockchain, but the company has been interested in the emerging technology for some time. Last month, the company announced a new partnership with Luxoft Holding. Luxoft and five other consulting firms are working together to roll out blockchain solutions that can operate on AWS. “Blockchain is about removing data silos, improving trust and operational efficiencies,” said Luxoft’s vice president of technology strategy Vasiliy Suvorov. “By using AWS to deploy and integrate DLTs into day-to-day processes, businesses can revolutionize how they operate.” In related news, a survey completed by LendEDU last month found that more than half of Amazon users said they would consider using an Amazon-built cryptocurrency on the site. Amazon Prime members were even more eager, with 58.3% in favor and only 21.9% opposed. Image from Shutterstock The post Amazon Reveals Blockchain Templates for Ethereum and Hyperledger Fabric appeared first on NewsBTC.

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.