BEAT- DISRUPTING THE HEALTH AND SPORTS INDUSTRY

stug (32)in #ico • 6 years ago

Over the years it has been observed that one of the leading revenue generators is the sport sector, millions and billions are generated form this sector yearly, and it has ever been increasing as each year passes by. But not only sports, the health and nutrition sector also has proven to generate more revenue. Now with the introduction of blockchain technology, it has all been all round good news to most sectors, an to this sector we are about to discuss in particular. As it as been observed that many businesses set up in sports health industry lacks a long lasting solution for health data-privacy, it has heavily proved to hamper the growth of the system given that it is Paramount to users. Thus, users of market are currently fragmented by their functionalities and lacks the suitable platform to create a self-sustaining ecosystem of such companies, users of the platform, and even third-parties. The aforementioned perception of the ecosystem is seriously hindering its upward movement and rapid growth. But the blockchain introduction, as mentioned before, has served as the beginning to the solutions of the problems involved.

BEAT is a blockchain platform that safely keeps your health and fitness data and allows for the sharing of the data with sports sponsors, talent scouts, insurance firms, and others in a bid to unlock the potential in your health and fitness data. The data will be stored and encrypted in the BEAT blockchain.

How Beat Health & Sports Fitness Data Works

The user will have comprehensive access to this data, and he can decide if he wants to be a data provider by sharing of some of the data via a contractual agreement with other consumers. The consumer of the data will only get access as per the contractual agreement and use it as defined in the contract.

The concept will have trusted third parties (TTP) such as management software for the different providers, applications, fitness trackers, gyms clinics, and trainers among others that will be used to track, verify, and store the data in the blockchain.

The BEAT blockchain connects three important group of stakeholders: the data providers, data consumers, and trusted third parties.

Data providers are the generators of health and activity data. The providers can be private persons such as patients or organizations such as gyms and clinics. The BEAT will allow the providers to store their data in the Blockchain and each of the providers will have a wallet to encrypt and access this data.

Data consumers are private, legal, or political entities that offer to use cases for accessing certain health and activity data. Consumers of data can be employers, insurance firms, clinics, sports facilities, and private persons who want to motivate the providers of the data.

A trusted third party is a legal entity that provides the infrastructure to capture and verify the activity and health data in a reliable manner. The third party should also record data and provide the data provider with an electronic wallet that has different functionalities. The BEAT platform will use MySports to come up with the NoExcuse app that will be used for this purpose.

Uses Of The Beat Blockchain

The Facilitation Of The Sponsoring Of Sports And Talent

Any sponsor including an insurer, employer or parent can reward their targeted sportsperson after verifying the sports activities they have participated in. Sponsors will also be able to create sports challenges, and the verification can happen on the BEAT blockchain. These challenges can start with simple activities such as a bet between a trainer and a sportsperson to a difficult challenge such as losing a certain amount of weight in a given duration. Rewards that are in the sponsoring contract can be settled outside the BEAT platform or be in the form of BEAT tokens settled in the BEAT platform

Targeted advertising
Insurance firms can now reward those who live healthy lifestyles
The platform will enable physiotherapists and physicians to have comprehensive health and activity data
The data will be used to support medical development and research.

Team

Beat haves an exceptional team of 140 employees, 40 rockstar developers, experienced management and well connected global advisors located in Hamburg, Berlin, Hong Kong, Moscow and Silicon Valley.

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Roadmap

Successful Project always has a purpose to reach. these points can be read easily on a roadmap to track every progress will be through on the project. easily shown on the roadmap to track the progress of the project. As you can see following below, the Roadmap of Beat projects looks very clear and informing. the team has planned in detail the big amount of tasks to be done and to be through.

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