Cryptocurrency: Involvement of virtual assets among teens an adoption blessing or major exploitation?

Kin, a crypto-project based around messaging app Kik, recently made headlines as the organization launched the DefendCrypto.org dubbed fund against the US Securities and Exchange Commission [SEC].

At press time, Kin was not considered a major crypto token in the industry; however, in the wake of this recent event, a lot of light was shed on the virtual asset.

Eric Wall, the Cryptocurrency Lead at Cinnober, indicated that Kin as crypto might affect the future generation of kids who were most likely to adopt the idea of cryptocurrency on a larger scale.

Wall stated that the “most fertile” ground for future mass adoption of crypto at the moment, resided with how kids reacted to it and that introducing virtual assets to apps like Kik would help promote the idea of a digital economy.

In an earlier Twitter thread by Eric Wall, he mentioned that 29.3% of the world population was under the age of 18 and suggested that they were a group of people that was largely attached to the communication medium of the Internet.

He suggested that kids were extremely smart at understanding digital functionality and in-app purchases, while indicating that they were also “super-excited” about making money.

However, Wall emphasized on the consequences that could be a part of this early adoption as he mentioned,

“The darkest part is that this will give a new tool to groomers. Young girls and boys will be asked to show their body parts on cam in exchange for anonymous coins. The perpetrators will know they can get away with it and the kids will know their parents won’t find out.”

Luke Martin, a Crypto Analyst, also pitched in, opining that Kik was not very popular among kids these days and that the Kin crypto would not be entirely used on the messaging application.

Eric Wall agreed, but also stated that Kin could also get introduced into other popular apps where the involvement of the generation under the age of 18 was more prominent.

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