George Weiksner is a 12-year old schoolboy from Connecticut. He and his father Michael have created their own cryptocurrency – Pocketful Of Quarters – designed specifically to be used by young kids like George who always lose their money when gaming. The combination of young George’s inspiration and crypto-knowledge plus dad Michael’s venture capital connections means Pocketful Of Quarters is now open for business!
With around 1,500 cryptocurrencies currently circulating the globe, it seems as if every week the blockchain throws up another Altcoin, the vast majority of which are almost indistinguishable from each other. However, what is highly unusual is for a cryptocurrency to come along which has been created specifically for kids. What’s more, this crypto was in fact created by a child, and one who’s only just old enough to attend high school.
And yet that is exactly what 12-year old George Weiksner has done, with a little help from his father Michael. The Weiksners live in Old Greenwich, Connecticut and George attends Greenwich County Day School. But what sets young George aside from the other kids in his class is that while the majority are focused mainly on having a good time playing sports, shoot-‘em-up video games and enjoying childhood, George’s passion is computer technology. He clearly is a budding entrepreneur, and his first success looks like heralding from the ever-changing field of cryptocurrency.
From the age of 11, George had been traveling to upscale New York with his father on a Monday night to a restaurant named Bagatelle, for what was called Crypto Mondays. Here, crypto and blockchain enthusiasts would meet and share ideas about the blockchain, digital currencies, and the latest innovations. Once again, what sets George apart from this bunch of crypto geeks and nerds is that he has already taken the enormous step and created his own blockchain platform and cryptocurrency. Heck, it’s even got a cool name; “Pocketful Of Quarters.”
As George told Business Insider in an interview earlier this year, the basic idea for Pocketful Of Quarters was borne out of the frustration lots of kids experience when playing computer games:
“At the time, I was frustrated because whenever I quit playing a video game, I lost all of the coins I’d earned in the game,” George told Business Insider. “That meant that I was losing all of the work and effort I’d been putting into the games. So when my dad told me about cryptocurrencies, creating a cryptocurrency for games made sense to me.”
George did have a little bit of help from his father Michael, a PhD from Stanford University and a general partner at Rostrum Capital, a venture capitalist firm which invests in next-generation platform companies. Rostrum Capital plans to invest between $100,000 and $250,000 and 15 companies over the next 24 months.
Meantime, it could well be Pocketful Of Quarters that requires special interest from Rostrum capital, and enough investment to take it to the next level. As of yet, Pocketful of Quarters may not have earned vast amounts of capital, but the potential is clearly there for accompany who claim its product is the “Universal Cryptocurrency for Games.” As young George says:
“Cryptocurrency investing is more like, I feel, later, and an initial coin offering is like in the beginning. What we do in our ICO is we’re making it so you’re investing in something that has already been partly built so ours is kind of in between, which is kind of nice.”
George has also shown that he is a tough negotiator when it comes to cutting a business deal. George initially demanded 80% of Pocketful Of Quarters, while his dad came back with a 50-50 equal-partnership suggestion. George was initially unwilling to budge from his demand, but after much soul-searching, consultation with his mom, and a realization that without his dad’s input Pocketful Of Quarters would pretty much remain just a Pocketful of Dreams, he relented. George agreed to 50-50, with the important caveat; that George was granted the final say in company business.
Sounds like a good deal for all involved.