An app that pays you for walking? You’d be forgiven for thinking this idea was an April Fool’s joke. It’s not! The Bitwalking app allows you to earn dollars (or a “digital crypto-currency”) and is generated by human movement.
You’ll need to make around 10,000 steps (or walk for around five miles) to earn just one Bitwalking dollar (BW$). So, unless you’re Forrest Gump, you’re not going to get rich overnight.
You can spend your earnings in an online store, or exchange the Bitwalking dollars for cash, but to begin with, the app will only be available in Japan, Malawi, Kenya and the UK. The main reason Bitwalking wants to pay you for walking is to gather your health and fitness data (and to get the world active, apparently), but in poorer countries, it has the potential to make a financial difference to people’s lives – in some cases doubling an income.
Because the app can essentially track where its users are, the data could prove very valuable to advertisers. But, again, doesn’t this bring up a whole host of privacy issues?
Each currency transfer will also be monitored – that includes deals passed through a central ‘bank’ that verifies transactions using the block chain method. Users will have their own personal account and can transfer dollars to other users. It’s like a whole new exclusive currency is being created!
Really though, where does this take financial services and institutions if you can now earn money by walking, based on brand and sponsorship deals? It’s a pretty bonkers concept to understand! What are your thoughts?