Banano is a meme-coin, a fork of Nano, and a cryptocurrency that doesn’t take itself too seriously. But this post is all about how Banano is uniquely positioned to disrupt education, parenting, and your office. If you want to learn about a use case for crypto, read on.
What’s so special about Banano?
1. Free transactions enable micro-economies
Since transactions on the Banano blockchain are feeless, all transactions are free. This makes it easy to send and receive small amounts of Banano (or any amount of Banano).
2. Wallets and Creeper give visibility
As a blockchain technology (technically DAG), all transactions and balances are tracked and recorded. Both can be seen in wallet apps like Kalium or using the web tool Creeper.
3. Apps make Banano readily available
Since Banano is a digital currency, it goes wherever you go. As long as you have your phone and internet you can use Banano. In this post we will go over examples at home, school, and work so you won’t need to worry about bad internet connections.
4. Subwallets enable closed systems
In Kalium you can create additional wallets, what I’m calling subwallets. These have unique public addresses but are accessible within the app. Therefore you can send Banano between the wallets and retain control at all times.
5. It’s fun
Banano is a meme coin. Sometimes it gets a bad rap for it, but the point of meme coins is to be fun! Each Banano public address has a monKey character which can be customized to be kid friendly.
Use Case #1: Educational Incentives
Banano in the classroom can be an easy way to implement a closed rewards system to reinforce good behaviors and actions in students.
The teacher creates a Kalium wallet. They make subwallets for each student. Each student gets a QR code (and fun Monkey avatar) and their wallet public address.
The teacher decides what behaviors (i.e. keeping a clean desk/cleanup after activities/in desk during bell, etc) and actions (i.e. asking two questions about reading assignment, reviewing failed answers and resubmitting tests, etc.) to reward with Banano.
Rewards can be individual as well as class-wide. Distributed solely within the app or by scanning QR codes. Students can check their balances using Creeper.
Teacher can set up rewards system - pay with ban to get rewards, thereby closing the loop. Examples include extra class games (heads up seven up, etc), access to special games (games or activities typically not available), etc. The students pay the teacher for these rewards, so no Banano is lost.
Use Case #2: Allowance
Parents can use Banano in a similar way as teachers. Parents can implement a closed rewards system to reinforce good behaviors and actions in their children.
The parent creates a Kalium wallet. They make subwallets for each child. Each child gets a QR code (and fun Monkey avatar) and their wallet public address.
The parent decides what behaviors (i.e. using manners, calming self down, etc) and actions (i.e. chores, eating dinner, etc.) to reward with Banano.
Rewards can be individual as well as across multiple children. Distributed solely within the app or by scanning QR codes. Children can check their balances using Creeper.
Parents can set up rewards system - pay with ban to get rewards, thereby closing the loop. Examples include extra playtime, access to special games (games or activities typically not available), access to special treats/sweets, etc. The children pay the parent for these rewards, so no Banano is lost.
Use Case #3: Employee Recognition/Engagement
While this is not intended to replace a bonus or anything like that, Banano is great for tipping coworkers as a sign of appreciation. It can also be helpful as an incentive for employee engagement at company meetings and participation in company surveys/initiatives.
A company could create an account and subwallets. It could then distribute Banano either per employee or through management.
The company could alternatively implement an open system and setup a company funded tipbot on Slack or Zoom to enable employees to tip each other.
Employees could purchase company swag or other rewards (ie extra PTO, etc) by paying back to company.
This example is more complicated and will depend on the company structure but the system is similar to the previous two examples.
Banano may not take itself seriously, but that doesn’t mean it isn’t useful.