Bitwalking, a U.K.-based Android app that converts activity-tracked steps into digital currency, or “Walking Dollars,” has inked a collaboration with fitness wearable company Misfit.
No, not actual dollars. Think of them more as digital coupons that are equated to a currency amount.
With the new partnership, users can now generate Walking Dollars directly from their Misfit devices. A step is worth the same value for everyone — no matter who or where you are. Misfit devices will also become available at Bitwalking’s in-app store, and Bitwalking users will be able to purchase selected Misfit products with Walking Dollars.
“Misfit joins Bitwalking in ushering in a new era of access to currency and mobile payments. As most people are unable to generate and benefit from digital currencies, the company plans to offer innovative schemes and easy-to-use technologies for all. New features will be available globally through Bitwalking’s platform and selected partners,” Bitwalking explained.
The Misfit product line will be integrated with the Bitwalking platform come winter 2016.
Nissan Bahar, CEO, Bitwalking, said “Misfit is at the forefront of movement tracking devices and an exciting partner for exploring how the Bitwalking world will look beyond traditional mobile devices. The wearable space is a natural expansion for Bitwalking, creating a technology that walks with us and recognizes our human value.”
According to a report from the BBC, users will be given the chance to spend what they earn in an online store, or trade their Walking Dollars for cash … at least to begin with. Bahar and Franky Imbesi, the founders of Bitwalking, gained more than $10 million in initial funding, primarily from Japanese investors, which they are using to launch the currency and create a bank that verifies steps and any transfers.
