Explaining Scallop To A 12 Year Old

For many years now, there have been two types of money in the world — cash and electronic money. Cash is paper money (and coins) and electronic money is the ‘numbers on the screen’ that shows people how much cash they have. But, now, there is a new, third type of money — digital money. Digital money is money that only exists online. It’s numbers on a screen too but you can’t touch it in real life, like you can with cash. Many people today call this digital money, ‘cryptocurrency’ or ‘crypto’.

Our platform, Scallop, makes it easy for people to use their digital money. We do this because digital money is new and there are not many ways people can use it properly yet. And it’s expensive to change electronic money into digital money. So we want to make people’s lives easier and give them one place where they can manage both types of their money — electronic and digital.

Eliminating Middlemen:

Digital money flows from one person to another, without the need for a bank, in the middle. In this way, it becomes faster to transact and also cheaper, as there isn’t a third party for fees to trickle away.

What is Scallop:

Scallop will make it possible for people to use their digital money in any way they want.

Scallop lets people use the money of the future in exactly the same way that they use the money of the past. Scallop makes your financial journey easy and enhances your everyday digital money experience