A new cryptocurrency will hand out for the kilometers traveled

Moscow. November 24. The list of cryptocurrency world over the weekend welcomes a new member – Bitwalking (BW$). These dollars, unlike other virtual currencies, you can earn a walk, informs “bi-Bi-si”.

The currency is generated with the help of smartphone apps counting steps of the user. Those interested will be able to get one cryptomelane Bitwalking for every 10 thousand steps. Depending on stride length for an adult is approximately 7-8 km.

The Nissan Bahar and Franky Imbesi already attracted more than $10 million as seed money for its implementation. Their plan builds on the popularity of fitness trackers. The purpose Bitwalking, as they say, is to push people to the active way of life.

At first, the members of the scheme will be able to spend earned in online stores or to change cryptically for cash. In the future it is planned to establish automatic exchange service on the Internet. Expected to be formed and the exchange rate.

At the beginning of the project Bitwalking one cryptodiran BW$ will equal $1. But despite the possibility of free exchange, the exchange rate BW$ to dollar, most likely, will fall, if the new cryptocurrency will be impossible as freely be used to buy goods and services.

The first online store that will sell the goods for cryptomelane, will trade at the rate of $1 = 1 cryptodiran BW$. The store will need to avoid empty shelves, so the first time it will not work around the clock. The organizers of the project hope that other companies will start to adopt a new cryptocurrency.

Mostly donations contributed by Japanese investors, who agreed to help establish a new currency and to create a virtual Bank that could verify the amount of participants of the scheme and steps necessary to carry out the transaction.

So, the Japanese company Murata is working to create a bracelet that would show its owner how it went and how much cryptolab already earned.

This currency, as reported, can engage in as a means of payment, the companies producing shoes, and one of the British banks are already holding talks about becoming the official partner of this project. On conclusion of the agreement on partnership will be announced next year at one of the UK’s largest music festivals.

The authors of this project already have experience of implementing technologies to help the economies of both developed and developing countries.

Last year in Nairobi (Kenya) and Bahar of Keepod Embassy released, the unit price of $7 that performs some functions of a minicomputer. It has been already used in 87 countries.

The organizers of this international project are planning to involve him as a partner company for the production of sports clothing, health services, organisations for the protection of the environment, and potentially advertisers, who will receive unique access to their target audiences.

In the future to participate in the project may be invited employers who care about the health of their employees. This will allow you to pay earned by employees cryptocurrency along with the regular salary.

In developed countries the average participant of this project are expected to be able to earn about 15 cryptolab a month. The authors of the idea hope that in poorer countries, where more people walk to work, to school or just water – this scheme will change the lives of many, because in a month they will be able to accumulate the sum, comparable with the current earnings.

Mobile app a Go! for iPhones and smartphones on the Android platform initially will be offered in several countries, including the UK, Japan, Malawi and Kenya. This will allow the organizers of the scheme to make necessary adjustments before you expand to other countries.

Earlier, several startups have tried to associate health care with any reward, but most such projects were unsuccessful because of the impossibility of strict control over the actions of users that the scheme has not been exploited by fraudsters.

The project Bitwalking has not officially released the algorithm used for the verification steps, however, reportedly, it will use GPS and data connections via Wi-Fi to count the distance traveled.

Reportedly, in any case at the first stage participants in the scheme can earn a maximum of 3 BW$ a day (that’s about 30 thousand of steps). The use of multiple accounts by one user will be banned.

Many Japanese companies already offer their employees bonuses for physical education and sport. For example, the Lawson chain stores pay their employees $50 a year for what they eat right and keep fit.

The authors of the project Bitwalking hope that their coin will help to extend this practice to other countries. But the schema used by Lawson and other similar companies, based on trust, and employees have received the vouchers cannot be exchanged for cash.

It is not clear how this currency is so easy to earn, will keep its own exchange rate. Not very clear and are sufficient collected funds to Finance the initial project implementation period required for the emergence of confidence in the new currency.

Website Bitwalking will send invitations to those wishing to join the scheme so that the company can monitor the total number of participants.

Because the scheme will monitor the participants, the project organizers will receive a large amount of valuable data for advertisers. But at the same time may appear and objections from those concerned about the protection of personal data.

“This information will not be sold, – assured N. Bahar. – We can offer advertisers the opportunity to focus on different groups depending on their activity, but we will not share any information about individual users.”

Operations with the new currency will also be closely monitored, all your transactions will pass through the “Central Bank”. This “Bank” will verify every transaction, using a method similar to transactions with Bitcoin and other cryptocurrencies.

Users will have access to your virtual wallet in which to store the earned cryptically, and can pay them through mobile apps.

“This is the currency that can make anyone, no matter who he is and where he lives, says F. Imbesi. – For some Bitwalking – free Cup of coffee per week, the proposed local eateries seeking to attract new customers. For others it’s an opportunity to change lives, starting to earn and manage money.”