The word entrepreneur (is particularly hard to spell as I’ve just found), describes a person with a business minded motivation. Whether they want to make the world a better place, want to make millions, or want to make their idea a reality, the innovation behind the ‘entrepreneurial mind’ is something that can happen at any age. Yep, even at the tender age of 11 years old.
George Weiksner, an 11-year old from Connecticut is spearheading his new cryptocurrency through his platform ‘Pocketful of Quarters’. As CEO of the company, George is making headlines recently, here’s why:
First imagined in a car ride home, Pocketful of Quarters is a platform through which cryptocurrency can be traded by gamers. The currency is both viable in the games as a commodity and can also be used to access the games and unlock content within the games. Much like as a traditional arcade for example.
The difference between Pocketful of Quarters and a traditional arcade is that within the platform, ‘quarters’ (they are actually ERC-20 Ethereum coins) are given back to players, every time the live supply of quarters doubles. So, when the surplus of quarters doubles, users will be given 25% more quarters, meaning that the more people who play the games and invest, the greater the return every user will reap.
This is designed to be a fun platform and is not yet open to serious trading, you can’t hold the quarters as a token for investment but what you can do is transfer your coins from one game to another. This is a novel idea, now you can use standard currencies in many games, but currencies earned on one game are not transferable to other games (generally). Within the Pocketful of Quarters platform however, quarters are completely transferable to new games, again, much like an arcade. Your winnings can enable you to move on to bigger and better games, or if you so wish, just invest them back into the game you are spending all your time on. This is the premise of decentralization and it very much rings true within this platform.
Delving deeper into the white paper for this project, you can see what there are incentives for getting game developers onboard, ultimately the more games the service provides, the more quarters will become available. Pocketful of Quarters allows developers to access the full network of players that play their games, giving them opportunities to get direct feedback and information about how users behave within their game. Pocketful of Quarters are also stating that as an app store concept, they will give developers 300% of what gamers spend through in game-purchases, much more than Google and Apple currently offer for developers on their respective app-stores.
I like this idea, not only does it make nice use of the ERC-20 coin, it also provides young people a path for accessing and using cryptocurrency. The quarters might not be a serious tool for trading, but they certainly pave the way towards learning about cryptocurrency and how they work, whilst providing a platform for fun in the process.
Young George says that being a kid in this industry is both negative and positive, he has obviously had rejections from major entrepreneurial networks, but his age is giving him a lot of media attention, boosting the reputation of his platform in its early stages. They might only be 6-months old, but George hopes that Pocketful of Quarters will be worth billions of dollars in a year, good luck to him!
Featured Image Source: Wikipedia Commons