LYMPO: MONETIZING SPORTS AND HEALTH DATA VIA BLOCKCHAIN
In going through present scenario there is a huge trend for digital health market. About millions of people daily use digital health monitoring gadgets and platforms for healthy living & maintaining its wellness. As each day is passing the space of digital health market is increasing rapidly. Even the latest launched phones have such features to predict one's health condition. The top categories this kind of sector is focusing on are a gym, sports, personal trainers and a healthy food habits. Everyone wants to live a healthy life with a proper track on it. So it is very important to use such technology which leads to a healthy living.
Introduction
In the world of mobile health technology, Lympo came as a blessing for fitness freak. In this world of a busy schedule, it offers attractive solutions to its user. This offers a user-controlled & user-generated fitness and wellness platform; this allows the exchange of data to its stakeholders.
The main objective of Lympo ecosystem is when the data is used by the stakeholder's everyone should be rewarded fairly, they should not be any misconceptions arise. It allows the data exchange with the world of sports, health & fitness, which the three vital need for surviving. All the features of Lympo are associated with the platform of the blockchain, which assures the security of transactions. This ecosystem helps its user's monetising its data. It gives full right to the individuality of one for keeping its data safe and secured and has full control over it.
Current difficulty
There are lots of people who are using mhealth apps for their tracking on health, sports & fitness. These apps stores one health records, and these records are very precious for its user and all other health data based industries. And the problem raised here is that no one can use these data for further use, share or monetize it which generates the lack of research for the data based industries. The current market doesn't have any feature for using one's data for betterment in the world of health, wellness & sports. And presently no such platform is associated with the blockchain who can assure the full secured and safe payment method with all control and supervision on it.
Solution offered by Lympo
This ecosystem offers the real-life solutions for the mhealth app users, where they can share, exchange or monetise their valuable health data. And the stakeholders could buy it easily and use it for further development and research on it, which will lead to a well-developed healthcare, sports, and wellness market. This even involved the launching of token for it, using which all the transactions will be performed under this ecosystem, so that one will get guaranty on the issue of being fraud and have fully secured and safe payments.
Support system of Lympo ecosystem
For the proper functioning of this ecosystem, it has three different sectors which act as a support system to it,
- The Lympo fitness wallet
The user reward system along with lympo fitness wallet acts as an essential mechanism for the Lympo environs. This is the first step toward the world of Lympo which allows the user to make their profile here and further this technology offers a path to the users of this platform and getting rewarded for their achievements in the healthy living lifestyle.
- A marketplace
The rewards which are obtained from the achievements can be utilized here. In this functionality, one can enjoy the benefits of getting a professional trainer along with a great network of sports, wellness, health goods and service providers. This will even promote the business in the world healthiness & wellness such as providing health insurance and much more.
- The Lympo crowdfunding platform
This platform gives liability to its user for investing in the effective and efficient data-driven companies, which will play a huge role in developing the Lympo ecosystem. This even offers a place for rating services by great market competitors on health and wellness and gives a scope for improvement in it.
Lympo move towards token
Lympo launched its token named as 'LYM'.
Total token supplied= 1,000, 000, 000 LYM
Hard cap= 14.625 ETH = 650 million LYM
Soft cap= 15%
The Final Verdict
The world is growing in rapid fast pace, and it needs a health monitoring system for knowing its health and wellness status. The Lympo ecosystem with featured blockchain offers all the vital features for making its existence in the present time. It seems very promising for making one believe its capabilities on its ecosystem comprising of health, wellness, and sports. With its innovative ecosystem, one can enjoy the world of monetizing health & sports. Everyone has a belief that technology helps in healthy leaving with trending solutions to it, thus Lympo offered all these features in its platform.
Website: http://lympo.io/
Telegram: https://t.me/lympo
Blog by ollivander7
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1069616
Interesting article and interesting use of blockchain. I am definitely going to check this coin out.
You wrote "There are lots of people who are using mhealth apps for their tracking on health, sports & fitness. These apps stores one health records, and these records are very precious for its user and all other health data based industries. And the problem raised here is that no one can use these data for further use, share or monetize it which generates the lack of research for the data based industries."
I don't think this is entirely correct. There are several apps/programs in which users of services like Fitbit can earn small amounts of money for sharing their data, which supposedly is looked at at the aggregate level. I could be wrong or misinterpreted what you wrote, but wanted to let you know.
Oh! I was not aware of it. Personally I have a Fitbit Charge HR but I have not come across the option to monetize the data. Anyways my understanding is that monetizing activity data is not that prevalent and happens in small pockets as suggested by you.
Yes, it is still definitely a small market. The company is called Achievement. You won't make a ton of money. Maybe 10-15 dollars. But that is 10-15 you could use to buy some altcoins. There is a company called Sweatcoins, which does something similar but pays in their own cryptocurrency. Didn't really work for me since I live in a large city and there were issues with GPS. It also only works outside, so it counts none of your inside steps. If you live in the US, Walgreens allows you to earn rewards points if you hook up your Fitbit.