What? Why? How? Your Pigzbe questions answered
As we fly into the final week of the Pigzbe Kickstarter campaign, we wanted to take some time to answer some of your big questions about Pigzbe. Will Pigzbe be in other languages? Can more than one child use the Pigzbe device? What exactly is Wollo? Read on for our answers in full!
Will Pigzbe be in other languages apart from English?
Yes! We’ll be localising the app in late 2019 through to 2020, so you’ll be able to use Pigzbe in a range of different languages. We’ll share our localisation timeline soon, so watch this space!
Can more than one child use the same device?
They could, but we’d strongly advise against it. Pigzbe uses a one-device-per-child approach. That’s because each device has been designed to link with an individual child’s account. In part, this is to ensure that each child has control over their own learning and savings experience. But also, a shared device could cause quite a lot of confusion over whose money is whose, and in particular over the ownership of tasks.
Does Pigzbe come in any other colours?
Yes! Last week the Pigzbe community helped us hit our $100,000 stretch goal, which means we can now offer Pigzbe in Froggy Green. Check out the image below!
If you do decide to back Pigzbe on Kickstarter, or if you already have, we’ll follow up after the campaign to check which colour device you’d prefer, green or pink.
What is Wollo?
Wollo (WLO) is a new cryptocurrency that helps children learn about the principles of modern money in a way that’s fun, safe and secure. We created it specifically for kids and families, and it’s the currency that the Pigzbe app and device run on.
Based on years of experience building educational toys like Cubetto and the Kano Computer we’ve learned the importance of doing things in a language that kids understand. Wollo works in simple denominations without decimals, which kids typically don’t learn about until age eight. For the kids, one Wollo is always one Wollo, wherever you are in the world. Simple as that.
How do I get money in and out of Pigzbe?
Every device comes with 200 Wollo pre-loaded, which means that you and your child can start playing and learning with Wollo straight out of the box. If you want to buy more Wollo, you can do so via the Pigzbe App. Think of it like buying foreign currency or even in-game tokens.
Then, whenever you like, you can spend Wollo by exchanging it online for other digital or everyday currencies or using a Pigzbe Family Payment Card or Wirex Visa card (selected locations, fees apply).
Why use a cryptocurrency?
We decided to use a crypto-currency for three reasons:
1) It reinforces good behaviour with instant rewards — Sending Wollo to a child takes only 3 to 6 seconds, so once a chore is completed can be rewarded instantly with the tap of your phone screen.
2) Physical coins are a hassle for parents — In an increasingly cashless world, mums and dads don’t have coins and small notes to hand. Chores and tasks go unrewarded, lessons are lost.
3) It’s important to teach children about digital money — Along with experts around the world, we believe that the future of money will be a mix of everyday (aka FIAT) currencies and crypto tokens. Wollo gets children playing and learning with cryptocurrency early on, so it’s not intimating or scary when they’re older. We want to prepare them for the future they’ll grow up in.
Why not use everyday money?
Great question. We use a cryptocurrency because you just can’t send small amounts of money quickly, easily and internationally with regular money.
Here’s an example. You want to send your child 50 cents for tidying their bedroom. With the current banking system, that could take up to a day. The important immediacy of the reward disappears. Plus, the existing system also makes it difficult to send small amounts of money without paying huge charges.
Now imagine you want to send a dollar to a nephew, niece, godchild or grandchild because they’ve done well in a test, but they live abroad… Depending on the money transfer service you try it will be either slow, expensive, or impossible to send such a small amount of money internationally. We wanted to give families the power to send allowances, small rewards and gifts from anywhere in the world, at almost no cost, instantly.
Can I use the device even if I don’t have Wifi?
Absolutely! You can pair your phone and device via wifi and Bluetooth :)
And that’s it. If you have any other queries, questions or suggestions, please, please don’t hesitate to send us a message. You can get in touch via Twitter, Facebook, LinkedIn, Instagram and — of course—Kickstarter.
FINAL REMINDER! The Pigzbe Kickstarter finishes this Friday! Click here to pick up a Pigzbe before anyone else.