A digital crypto-currency has launched that pays people to walk. Could this be a ‘get rich quick’ scheme for ramblers? It’s an interesting idea and we’ll certainly be watching to see if it takes off in the UK.
Through the scheme, called ‘Bitwalking’, bitwalking dollars will be earned by human movement, unlike other digital currencies such as bitcoins that are "mined" by computers. The idea is to take advantage of the trend for fitness trackers by offering an additional incentive to keep fit. A phone application counts and verifies users' steps, with walkers earning approximately 1 BW$ for about 10,000 steps (about five miles).Initially, users will be given the chance to spend what they earn in an online store, or trade them for cash.
The global scheme, which is initially being launched in four countries, including the UK, plans to partner with sportswear brands, health services, health insurance firms, environmental groups, and potentially advertisers who could be offered unique insights into the audiences they are targeting. In developed nations the average person would earn around 15 BW$ a month, but it is hoped that in poorer countries where people have to walk further for work, school, or simply to collect water, the Bitwalking scheme could help transform lives.