Beat ICO: Blockchain Health & Sports Fitness Data Token Coin?
What Is Beat?
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.
Beat BEAT Token ICO Details
The BEAT Token (ITS) will be used to finance the development of the BEAT platform. The token is valued at 1 Euro=1 BEAT token. You can also purchase the BEAT token using Ethereum during the ICO through May 15th. The token will be used to access smart-contract based activity and health data. Additionally, users can use the tokens to exchange services, favours, or goods of data consumers that are participants of the BEAT platform. Further, users can also trade the token on existing secondary markets that will accept it.
After the development of the platform, the BEAT Foundation will be established. The foundation will be used for further development of the platform and operation of the BEAT Blockchain developed by MySports.