Move and gain – BEAT – project review
Hippocrates used to say that sport is a preserver of health. But not only. Scientists discovered that during the exercising the great doze of dopamine (happiness hormone) is being released. So doing the sport not only keeps in a good health but also cheers up. With the great number of people involved into wide range of physical activities, new programs how to monetize ‘fitness potential’ pop up like mushrooms. This trend didn’t pass by the blockchain. Let me introduce you the BEAT.
Project description
BEAT wants to collect fitness and health data from physically active users and share it with different institutions like insurance companies, sports sponsors, talent scouts, doctors and many more. Usage a blockchain technology and own cloud system allows BEAT project to work with the huge number of information and the wide net of partners increases the project's reliability. Behind this project stands a real company named MySports, in cooperation with Magicline 2.0 (German leader in fitness centers’ software), NoExcuse (app for home exercising), Bedarf.de ( the shop with fitness product), and Euroft GmbH (fitness solutions).
In the BEAT Whitepaper you can find real-life examples of BEAT infrastructure usage:
● A health insurance provider offering a discount for every month in which a sportsperson
performs 10 hours of sports.
● An employer offering 10 Euro extra pay a month for every hour of sports - up to a max of 100 Euro. This could also be set up to cover fitness studio costs.
● Friends offering a 100 Euro reward for losing 10 kg in 10 months.
● MySports GmbH offering BEAT Token per hour of anonymously collected data, porting sports and health science with it
● Gyms offering free drinks for a week to the member that exercised the most
● Sports equipment supplier could sponsor for a charitable purpose and learn more about the activity patterns of their target customers
● Exchange of data with and between clinics and doctors without the hassle of printed documents and long waiting times for transport and verification.
● Participation in clinical studies by anonymously sending health and activity
Tokens
BEAT token is based on ERC-20 protocol. It is a utility token, which is possible to use with certain services connected to health and activity data based on the BEAT blockchain. Besides, BEAT creators hope that it will be used as a voucher for different services. It supposed to be listed on secondary exchanges in nearest future (for today no fixed deadline).
ICO details:
Sale 13/03 – 15/05/2018
1 Token sold at 0.011 EUR
The price increase for 1 Token +0.001 EUR per week
The final price for 1 Token 0.019 EUR
Tokens created 5,000,000,000
Tokens for Sale 3,500,000,000
And here, I got confused, cause in the Whitepaper unsold tokens supposed to be reserved for Mysports needs and according to the One-pager, they will be burned. The same information, about the burned tokens, appeared in Bitcointalk description, so very likely this is the predicted unsold tokens fate.
If we talk about the founds and tokens allocation: 70% of tokens is for a purchase, 16% is kept for business development, 4,3% for a team (with 2 years budget frozen) and 9,7 % for bounty, bonus, referrals, and advisors. From the collected amounts 35% will be spent on BEAT blockchain development, 30% on marketing, legal and taxes, 35% for Ecosystem showcase.
The Team
As I understood from the BEAT documents, their team consists mainly of Magicline employees. Below you can see main BEAT members:
For the more detailed information about team members click here: https://beat.org/
On the website, BEAT claims that their team consists of 140 members, including 40 IT engineers who worked on IT solutions. Besides, BEAT attracted some ICO advisors:
Roadmap
BEAT is pretty modest in describing their further plan. On the website you can just find general infographic:
Much more information you can find about the actual partnerships BEAT conducted:
The full list of the partners you can find here: https://beat.org/
Hype
BEAT is doing a pretty good work with self-promotion. Their telegram community gained 33 k members, 70 k. followers on FB, and 3408 on Twitter. The project received high notes on ICO bench and similar rating websites.
PROs and CONs
PROs
Already existing company
Public Smart contract
Big community
Strong team
German company brand
CONs
Information is sometimes mixed or missing (soft cap, the fate of unsold tokens, relations between mysports and partners and etc.)
Average quality promo materials (especially Whitepaper)
BEAT has the referral and bounty program, so I’ll be more than grateful if you will use this link for registration and purchase: https://beat.org/?x=BJSPi4tnM
Links:
WHITEPAPER: https://beat.org/#whitepaper
WEBSITE: https://beat.org
FACEBOOK: https://www.facebook.com/beattoken/
TWITTER: https://twitter.com/beattoken
TELEGRAM: https://t.me/beattoken
GITHUB: https://github.com/beat-its/smart-contracts
Disclaimer: this is NOT investment advice. This is purely my opinion, based on facts found on project website, whitepaper, social media and etc. Please do your own research and decide if it qualifies with your risk profile.
Anna Hare
You can find me here:
https://bitcointalk.org/index.php?action=profile;u=1754481
Twitter: @44_crypto
FB: anna.hare.353
Valuer: RuthNews: http://ruth.news/ru/team