New Digital Crypto-Currency pays for every 10,000 steps

A new digital crypto-currency called Bitwalking pays people depending on the steps they take.

BBC reported that one Bitwalking dollar can be earned for every 10,000 steps a person makes, which is about five miles. It is not like the traditional crypto-currency, like Bitcoin, which needs to be mined. The crypto-currency can be used in online stores, or can be traded for cash. Its founders, Nissan Bahar and Franky Imbesi raised over $10 million of initial funding to launch the currency and put up a bank that where transactions can be done.

According to a report by Engadget, Bitwalking's founder didn't just develop the app to motivate people to walk and be fit; they actually hope that it could be another way for people in developing countries to earn. Since there are impoverished countries were people need to walk long miles before reaching their workplace, this new app would definitely help them have an extra source of income. One example is the "Bitwalking hubs" they created in Malawi to teach people how to manage, trade, and use digital currency.

The founders have a reputation of developing disruptive technology that has the capability to help developing nations, as well as the developed ones. Just last year, they launched in Nairobi, Kenya a device called the Keepod, which is a $7 USB stick that can act as a computer.

Geeksnack wrote that Bitwalking promises to be a very secure way to make transactions and it gives the user complete control over their earnings. Since currency has to come from somewhere, the company is currently looking for partners who have the capability to pay out the users. It will be available to the public soon, but for now, it is still for invite only.

Japanese tech giant Murata is developing wearable wristband that can show the steps a wearer has made and calculate how much BW$ the wearer has earned. Shoe manufacturers are now considering accepting the currency. Meanwhile, a UK high street bank is planning to partner up with the company during a big music festival in 2016.