For parents that are looking for a solution to help their children learn the basics of finance and how to manage their money, digital pocket money apps like gohenry have been created.

The app allows parents to establish an account for their child by linking it to a prepaid debit card, which the kids are then allowed to spend or save however they wish.

Kids who might be too young to quality for a traditional banking account have had their parents reportedly turn toward considering this sort of finance app solution, in an effort to help meet their needs.

According to one parent who has explored such an option, R. Hall, he says that when his kids have cash that all they want to do is spend that cash quickly, but the app enables them to check their balances online and prompts them to start thinking about saving and not just how quickly they can spend.

With the pocket money app like gohenry, the parents are able to load money onto the card from their own bank account, they are also allowed to set spending limits, and even set restrictions on where the card can be used.

There are some parents out there who have also turned to cryptocurrency to try and achieve the same.

While cryptocurrency might not offer the same restrictions as an app like gohenry, both are helping to teach young children today about finances and enabling them to interact in an increasingly cashless society.

There are parents out there today who have already started to pay their children their allowance in cryptocurrency.

In the way of similar control settings for parents as well, there are some cryptocurrency projects, such as Pigzbe, which enable parents to do the same thing as gohenry somewhat, by allowing the parents to establish an account and have control in sending money to their kids' wallet. The project has been described as ablockchain first digital piggy-bank which uses the Wollo token.

Will traditional piggy banks become a thing of the past?

There are other digital money apps that have also come to market in recent years, such as RoosterMoney and Pigby’s Fair, as more entrepreneurs have sought to move into this space and help provide a solution for parents and their children with regard to managing and learning about finances.

In 2015, it's estimated that global non-cash transactions increased roughly 11+ percent to more than 400+ billion. The amount of global non-cash transactions is expected to nearly double within the next few years.