Lympo - Monetizing Sports & Health Data via Blockchain
A Global Project
Lympo is a platform to incentivise and reward healthy lifestyles, so can be incorporated into many different models and approaches by individuals, the health & fitness industry and dare I say it, governments; local & national, health departments, sports councils, The Olympic Movement, The UN perhaps ? It has a distinctly human approach, producing tangible benefits and is a positive Blockchain use case which serves as a useful example of the technology to the wider world. It incorporates real world physical activity and is driven by the exchange of data as the core of it's business model.
mHealth Apps
Numerous Mobile Health apps come pre-loaded on our mobile devices when we buy them and we have fallen in love with wearables. Writstbands such as Fitbit, Nike Fuel and numerous others are really popular because they effortlessly empower a healthier lifestyle by seamlessly dovetailing with our mobile tech. The stats show that we use them too. As we move into an era of health and fitness culture, we increasingly use these powerful tools to track and help achieve our goals. Not just recording our kms and kph but tracking our weight loss, diet & sleep patterns. (My Pebble Watch has helped me improve my sleep and fitness regime by tracking my movements.) It's also encouraged me to upgrade. But I'm careful about my personal data, especially my health information.
Some mHealth Apps transmit our personal data without our knowledge or consent. Lympo aims to fix that by offering a trustless system to protect our personal data, so that we can participate, willingly and knowingly in the process, if we so wish and to be rewarded accordingly for sharing our target data with companies who are (unsurprisingly), very interested in the health data which we produce. it's an ever expanding market.
mHealth (mobile health) industry market size projection from 2012 to 2020 (in billion U.S. dollars) image source statista.com
LYM tokens
The token can be used as a participation reward for events or sponsored programs. They can be spent against a range of health and fitness products & services on the platform, including 500+ personal trainers who form the backbone of the original proposal. It's pre-sale raised over $5.5M and after a successful ICO the LYM token value has already delivered a solid ROI for investors. Against a backdrop of recent overall crypto performance, that's impressive and just goes to show how value in the long term in analysed by investors. It's trading on some high profile exchanges and will no doubt grow in strength over 2018.
While it's Topical
Recent revelations about personal data being harvested and used in dark grey areas by centralised social media organisations is perhaps a blessing in disguise, helping Blockchain & in particular, projects like Lympo show the way forward to a much more honest and balanced relationship with companies and organisations with whom we share our intimate details. Personal data is ours to share at our own discretion and although I'm not here to talk about the relative merits of one centralised social media corporation compared to innovative Blockchain projects (because really there is no comparison), it is relevant, topical, timely and an important distinction to note. One that I can now use to shore up my discussions with Blockchain naysayers about how this is the future, that was the past and that it's in everyone's interest to move forwards and take note of the change in the air.
Health & Fitness on the Blockchain
If you haven't heard of Lympo, it's a sports and health ecosystem with three distinctive and complementary aspects. It's recently completed a successful ICO phase and is now being recognised with strategic partnerships and expanded roadmap and an IPO including share distribution to existing token holders.
- Fitness Wallet with Rewards Mechanism
A personal fitness wallet connected to the M-health App & wearable data we generate, with data storage for retrieval & allowing free participation and token rewards for specific goal attainment, event participation and health achievements. Lympo will sponsor the first ever Blockchain Marathon to be held in Lithuania in September 2018. it's 15,000 participants will be rewarded with LYM tokens.
- Marketplace
Existing 500+ personal trainer marketplace with platform expansion to include a wide range of health and fitness related products and services which will also be able to be traded for personal data access. Tailor made advice based on user data.
- Crowdfunding Platform
Innovative industry start ups can use the platform to raise interest, awareness, expertise and capital. Community & user reviews help filter and qualify start up integrity and rate performance / suitability and potential. LYM token investments enable access to the Lympo community user base.
The Lympo Sports Foundation
The foundation will be used to promote & encourage active participation in sporting events, activities and healthy living around the world. As such it will hold and allocate a significant proportion (22%) of LYM tokens for empowerment by backing a number of initiatives.
Ada Jonuse & The Team
A significant factor for Lympo is the team. A healthy and balanced male / female ratio on it's executive, led by CEO & Co-Founder, Ada Jonuse; an inspirational female leader - *Blockchain entrepreneur, IT education maniac & women empowerment agent (this is not to be underestimated in the male dominated Blockchain / Tech sector and is an encouraging sign of the emerging sector's maturity.
IP0 - 20% of Lympo's shares to be distributed to token holders
This is a bold move by Lympo and one which will no doubt be emulated. One criticism about token hodling is that tokens often carry no voting weight, are subject to fluctuation and represent no ownership of the company. People refer to crypto as digital shares. They are different from shares and while I'm a huge advocate of crypto, projects which offer profit sharing models are much favoured. This goes one step further to making Blockchain part of a mainstream investment ecosystem, adding an IPO to their RoadMap. Here's the explanation for the decision by CEO Ada Jonuse.
“Lympo’s aim is a token with the real long term value, a real use case inspiring people to be healthier and mass market adoption independent from the entire crypto economy. Our mission is to grow Lympo to a powerful company and to conduct an IPO (initial public offering) in the future. In contrast to traditional businesses, we want our community to be a part of this journey. And that is why a decision was made by the team to offer a total of 20% of Lympo shares to our token holders.”
For More Information about Lympo
this article is not an endorsement of Lympo. I advise all potential investors to conduct their own research and due diligence before making any investment and never rely solely on the advice of others. Remember investments can go up as well as down.
lympo2018
I upvoted you to transform our Desire to Receive for Ourselves to a Desire to Receive for Others.
that's a fine sentiment @nokodemion. Thank You
This post has been submitted for the OriginalWorks Sponsored contest!
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:) thanks @contestbot. you are so efficient !
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by outerground from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
This is a very detailed well crafted writing @outerground
I have just started participating in the contest. As a beginner i don't have much idea about how to write such articles. your posts have given me some insights. I also have started to read some of your previous articles so that maybe i can have some idea and improve on my writing skills.
Upvoted and followed you
Cheers..
thanks @pritpatel very kind. I'm glad my post have been useful for you. Lots of practise and a real interest in the future of crypto is what helps me find the information. I think you have to enjoy the research; finding out about various aspects of a project to be able to write about it with clarity. I think the projects have to speak to you as well. Some resonate more than others :)
Another awesome write which deserves more than it got!
You still remain who i aspire to rank like in writing sir😏
Cheers @ced000 I'm really pleased for @averageoutsider. A great article. In this case, superior research won the day. I will return with a podium. ( I won 1st prize for Lympo's previous contest.. it would be no fun if one person won every time would it !)
Lol
True...it would be no fun
Well, I basically noticed you first from the @originalworks sponsored Lympo contest where you made this entry.
ENTRY
I entered the contest as well but I have to confess the way you approached you essay left me rethinking mine. You got some good writing skills and I really like that. Most of the @originalworks contest entries you make are awesome.
I always look out for them.... Not stalking :P