Bitwalking: An App That Pays People In Digital Currency To Walk
Dec 14, 2015 01:00 PM EST | By Alexis Villarias
A London-based start-up is launching a new app that will pay people in digital currency to walk every day. Walking has never been this lucrative.
As reported by Oddity Central, a new app called "Bitwalking" will soon be available on Android and iOS users in United Kingdom, Malawi and Japan.
The digital currency that Bitwalking will be using to pay its users is called "Bitwalking dollars" or BW$. In order to earn $, users need to walk a total of 10,000 steps or that's equivalent to five miles. A maximum of BW$3 can be earned in a day. These earning can be spent in the app's inbuilt marketplace or can be exchanged for real currency.
As stated in the company's website, it projects that Bitwalking will be pertinent among developing countries where workers are paid less than a dollar each day. Using the tracker will let them earn three times more.
"We believe that everyone should have the freedom, the ability, to make money," the website states. "A step is worth the same value for everyone - no matter who you are, or where you are. What matters is how much you walk."
Though the company has not detailed on how its app works, the system is believed to measure the exact number of steps made by the user.
With Bitwalking you simply generate money by walking," the website further explains. "The free app converts steps to Bitwalking dollars (BW$) that you can manage and use as you wish. The money you generate accumulates each day, and remains in your account until transferred or spent."
"The Bitwalking Dollar is real money. This is not a rewarding system, points system, mileage system, game or fitness app."
Bitwalking aims to partner with different companies such as sportswear brands, health services, insurance firms and environmental groups. If this program proves successful, it's a win-win situation for users and companies.
The whole concept has attracted over $10 million in initial funding from Japanese investors to help introduce the currency and set up a bank for money transfers. One of the banks in U.K. has already agreed to partner with Bitwalking in one of the major music festivals next year, the company claims. Some shoe brands have also showed interest however official list hasn't been revealed yet. The company hopes that more online stores will accept WB$.
The whole concept of Bitwalking is actually good as it encourages us to stay healthy and minimize pollution. However, there are probable business entities that will sure take advantage of the easy way the currency is earned.