Singapore has a similar system which is the POSB buddy smart system (source 1, source 2). Kids these days really learn everything so differently and adults have to adjust their teaching styles.

Though I find it a great initiative, one sad thing is that parents will be able to track all of their expenses. I remember when I was in primary school, my mum was really strict about having snacks and sweets.

We didn't have snacks and sweets at home however, I absolutely loveeeee potato chips at that time. So when I got off school at about 2pm, I would buy a packet of chips and munch on it on the way home.