Frequently Asked Questions
Pigzbe is comprised of a hand-held ‘piggy-wallet’ and an educational app, which run on a new digital currency (Wollo). Pigzbe teaches children 6+ learn how to earn, save and budget in a digital world.Last updated:
Pigzbe is designed for kids ages 6+Last updated:
Pigzbe is an educational technology (edtech) product. It’s designed to help kids around the world get confident with earning, saving and spending using digital money in the real world.Last updated:
Parents use the Pigzbe App to transfer digital pocket money to their children in the form of Wollo, our new educational currency. With the App, parents can also set up tasks, send gifts and suggest goals.
Children get notified by any new transfer, task or gift via their handheld Pigzbe device. Rich in haptics, visual and audio feedback, it works as a tangible home for their Wollo.
The children’s App is an adventure that enhances the hands-on experience, helping children learn through connected play. Through the App, children can also set savings goals for the things that they really want. Once they have enough, they can spend their Wollo in the real world by converting it back into everyday money.Last updated:
Absolutely. Cambridge University research shows that good – and bad – money habits are learned by the age of seven, and that kids can understand the concepts of price and value as early as age five.
Good financial education can teach children to defer gratification, and become better at saving and looking after their money.
We know from experience that the earlier you teach kids a skill, the bigger the impact later in life – financially literate children become financially literate adults. Pigzbe is here to help.Last updated:
In the past, piggy banks and allowances provided wonderful, early routes into personal finance: earning cash through chores, filling up the piggy bank with coins, counting your savings.
But today the world is digital, and so is money: Dollars, Pounds, Bitcoin, Wollo… Loose change is often a hassle for parents, so chores and tasks go unrewarded. The lesson is lost.
The Pigzbe App makes it easy for parents to send very small amounts of money, right from their phone, to their child’s handheld Pigzbe device in seconds, anywhere in the world.
This device is super important, not just as a notifier, but also a way of making digital money tangible, ensuring we keep that important kinaesthetic learning that comes from coins and piggy banks.Last updated:
How do I talk to the creators?
There are a bunch of different ways to get in touch with us to ask any questions about the Pigzbe project. You can:
1. Submit a question for the FAQ by clicking “Ask a question” in the FAQ tab
2. If you backed the project, you can also leave a comment in the comments tab.
3. Send us a private message by selecting “contact me”, on Kickstarter or by sending us a Facebook https://www.facebook.com/pigzbe or Twitter message https://twitter.com/pigzbe. We’re also on Instagram https://www.instagram.com/pigzbe/Last updated:
Wollo (#WLO) is a cryptocurrency designed to help kids learn the principles of money, safely and securely with the Pigzbe App & Device.Last updated:
Wollo is a payment token for families, which has been built on the Stellar blockchain. If you don’t know anything about blockchain, it’s a system that allows money to move around the world quickly and easily without the need for a central institution (like a bank) to keep track of everything.
At its heart, Wollo is designed to be a secure solution that helps modern global families send money anywhere in the world quickly at almost no cost and spend it as easily as local currency in their local community. It’s that simple.Last updated:
Creating our own family-friendly digital currency gave us the freedom to develop a financial ecosystem that:
Makes it quick to transfer small amounts of money: 50p for making the bed, a dollar for doing the washing up, a gift for your niece on their birthday or a contribution to that new bike. The current banking system makes it difficult to send small amounts of money without paying huge charges. We wanted to give families the power to send allowances from anywhere at almost no cost. With Wollo you can.
Connects families across borders: From uncles in Uruguay and aunties in Albania to the grandparents in Greece, Wollo let’s overseas relatives and trusted friends join in a child's financial education in a personal way regardless of age, location or financial status.
Reinforces good behaviour with instant rewards: - Sending Wollo to a child takes only 3 to 6 seconds once a task or chore is completed. Never be caught short for cash again and make sure that good behaviour is rewarded instantly, developing and reinforcing good habits.
Works exactly the same anywhere in the world: Pigzbe is global platform and we wanted the saving and spending experience to look the same for kids no matter where they are growing up. 1 Wollo is 1 Wollo everywhere.Last updated:
There are three reasons:
1) It’s quick, cheap and borderless – Because Wollo is based on the Stellar blockchain, transfers are a fraction of a cent and take as little as 3-6 seconds – far quicker and cheaper than using traditional banking or money transfer platforms. It also means that family members in other parts of the world can transfer Wollo without any hassle. Again, this wouldn’t be possible with incumbent systems.
2) It’s easy to understand – 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 aged 8. Wollo is universal and works exactly the same for any child anywhere.
3) It’s important to teach children about digital money – We believe that the future financial landscape will be made up of tokens and regular (FIAT) currency. Wollo is a safe and secure way to introduce children early on to codified finance.Last updated:
We believe that today’s children will grow up into a world where digital currencies like Wollo are the norm and cash is increasingly rare. We believe that children who aren’t introduced to digital currencies early on will be at a disadvantage later. We built Pigzbe to help teach kids about this new world so they are well prepared for the future of money.Last updated:
You will be able to buy Wollo and exchange them for other digital currencies online, through exchanges like StellarX or Wirex. Both of these provide wallets which let you buy, store, exchange and spend crypto and traditional currency.
Once you have purchased Wollo you can transfer them to and from the Pigzbe App super easily, in a matter of seconds. We are also working to make it possible to purchase Wollo directly through the Pigzbe App.
Our partnership with Wirex will make it easy to spend Wollo in the real world. Using the Wirex VISA card you will be able to spend Wollo anywhere that takes VISA (additional fees apply for the card; available in a growing number of countries).Last updated:
Yes, all rewards will be shipped from our warehouse in the Netherlands which means this campaign is EU friendly! There will be no additional customs charges for shipments to the EU.Last updated:
Our goal is to build a multi currency tool, one that support both fiat and crypto currencies. We’re starting our development journey with Wollo, and plan to add more currencies along the way.Last updated:
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