Incentivizing children to solve math problems
Studies show over and over that solid financial literacy is linked to basic numeracy skills, which in turn is formed at a young age. As school fails to implement courses that are relevant and memorable, parents role becomes more important. However, they often lack the time or financial confidence to teach their children these skills. Math for Money aims to create a financially independent future generation by teaching children basic math and introducing positive financial behavior from a young age. The Math for Money app allows parents to easily administer pocket money after gaining insights into their child’s math process. Children get incentives to use their time wisely and gaining knowledge at the same time. Blockchain is used to transparently track every time a selected student completes their math challenge and pays out the reward via smart contracts. Currently, Math for Money is used by several schools and more than ten thousand questions have been answered on the platform so far.