Revolutionising the health and fitness industry
Are you a health and fitness enthusiast? Do you follow a healthy lifestyle? Have you used health data tracking devices or apps? If the answer is yes to any of these questions, then you need to continue reading to find out more about this tech company that wants to revolutionize the health and fitness industry using blockchain technology. If you are not interested in health and fitness, you still need to read, perhaps you will be motivated to start living a healthy lifestyle because now it pays to be healthy. Yes, you read correctly, you could earn some free crypto for walking, jogging, or even sleeping the right amount of time at the right time.
LYMPO IS HEALTHY LIFESTYLE ECOSYSTEM POWERED BY USER-GENERATED AND USER-CONTROLLED SPORTS AND WELLNESS DATA.
It is a blockchain based, decentralized solution to problems associated with health and fitness data collection and use.
Data ownership
If you didn’t know, it was announced in 2011 that personal data is a new asset class (an asset being an income generating belonging) and that health data is among the most valued and expensive data of all asset classes. The sad part is that we as individuals do not own that data. We either voluntarily or involuntarily give it away to the collectors who use it for whatever purpose without us benefiting from it. Every time we use health data tracking devices, wearables or apps, data about our health activities is being collected and handed over to some company that we may or may not know about. We are not the owners of our own health data! The companies who own these apps and devices own the data and are profiting from it or sharing it without our knowledge as was the findings of a study conducted by the American Medical Association Journal.
Lympo is here to change all of that. It is here to revolutionize the way our health data is used. It is here to put back health data ownership in the right hands of the data generator, you and I!
How Lympo works
Lympo is an ecosystem and this ecosystem of health and fitness is powered by user-generated and most importantly user-controlled health data. Yes, with Lympo you control your own health data and this sets Lympo apart. You can now profit from the data collected from you together with other stakeholders. Here is how:
lymecosystem.png
The ecosystem consists of an app which is a fitness wallet that rewards the users with Lymp tokens (LYM) for sharing and achieving their health goals. This ecosystem includes all industry players such as fitness instructors, gyms, sports, health insurance companies. Basically, a user will have health goals to achieve, e.g. to walk 10km, set by their fitness coach. The user sets out to complete the activity and soon as that is achieved, a smart contract is triggered and the user gets awarded a predetermined number of LYM tokens.
The ecosystem will have a marketplace for fitness products and services and users can buy health and fitness products from this market using the earned LYM tokens. At this moment they can use the tokens to pay for personal trainer services.
The other use for the tokens will be in the crowdfunding space, LYM holders can use their tokens to invest in promising health and fitness startups and multiply their portfolio greatly.
With these incentives, a multitude of people will be motivated to switch to healthy lifestyles and this will grow the community.
This is how Lympo will change the health and fitness industry, they will put the power of control in the hands of the data generators. That means you and I will be able to choose whether or not we will be sharing our health data and with whom we share it.
The Lympo ecosystem is built on an already existing platform which has been helping the users to find the best personal trainer and it has 500+ fitness professionals in Lithuania and will be expanding to California, US and Melbourne, Australia soon.
Lympo’s goal is an ecosystem where data is used efficiently by all industry
stakeholders and everyone is rewarded fairly. It consists of three pillars:
the Lympo fitness wallet, a marketplace and the Lympo crowdfunding platform.
The other challenge that Lympo aims to tackle is that of data integration. In as much as there is so much data being collected through mHealth apps and wearables, the data is scattered all over the space. There could be apps that can integrate all the data and put it all in one place to make more useful, but users are not bothered to use those apps because there is no incentive to do so. They just don’t care enough. The Lympo ecosystem helps to put all the data in one place so users can have an overall picture of all of their activities.
Benefits to the marketing and advertising industry.
Even though there is a lot of data being collected daily, this data remains stored within a single provider. Data protection laws prevent companies from sharing personal data with companies and therefore most of the market players are excluded from the very useful data. Giving ownership back to the one who generates the data through their activities, the doors are opened for user-controlled data sharing meaning the data may reach many players and widen the competition in the production of fitness goods because the data is now managed by the user and all the key players will be able to profit from this valuable asset.
Furthermore, the use of blockchain technology means data will not be erasable and users who choose to share their data with other parties in the ecosystem, the record will be recorded and stored in the blockchain permanently, not to be altered or deleted. This means the entities who receive the data shared by the user will have permanent proof that they have the permission from the user to use the data and thus avoid legal complications that are brought about by the tightening of data protection laws.
Let’s take a look at each player in the Lympo ecosystem and see how they will make use of the platform and benefit from it.
The user (healthy lifestyle enthusiast) : their goal is to search for health and fitness goods and services through the platform as well as to benefit from the data they generate and to store that data in one easy to reach place.
They use the ecosystem and benefit by monetizing the user-controlled data;
They also get to integrate the data and also get extra motivation and have lots of fun fulfilling their goals because it pays them to do so (literally).
The fun part is in deciding on the further use of their data and it’s price and in return they get tailor made services that is based on their interests and personal data.
Sports coaches and personal trainers:
These are looking to sell their products and services, to find new clients as well as to manage the progress of their existing clients.
Benefits: Lympo will provide them with an easy to use system for achievements and rewards.
a platform for gamification of achievement of goals, this means they can set goals for their clients and create a smart contract to automatically reward the client with a certain number of LYMs for completing that goal.
Gyms
These are looking to attract new clients to their gyms and to optimize gym usage.
They will get the following benefits:
They can monitor the progress of each client
They can reward clients for using theirgym and thus attract more clients
Sports and wellness businesses
Their goal is to sell goods to specific target audience
benefit:
They can interact with customers directly
Get ideas from users’ data
Innovative marketing tool
Health insuarers
They want to reach out to potential clients and to incentivize healthy lifestyles
Data based management decisions that they get from client controlled data.
Employers
They need healthy and happy employees and Lympo will provide them with a great platform to incentivize healthy lifestyles and a posibility to tailor make solutions for each employee.
Health and fitness app developers who seek to find innovative ways to improve customer interaction and to promote health and lifestyle apps. Lympo gives them a wide client base.
Fitness and wellness startups that want to find investors to help develop their ideas into working products. They will find interest investors on the platform who seek to partner with such startups and they will also get plenty of industry advisors
Last but not least we have Investors and these are seeking innovative companies and Lympo will provide them with carefully selected startups with great reviews from industry experts.
In essence, a user will be able to access the wallet, create a profile, connect it to a data tracking app or device of their choice and fill in their health data. The data can be viewed by the user and can be shared by the users who stores the permissions on the blockchain.
The ecosystem will startoff by using the existing platform for users to find services of personal trainers and as time goes by, more players will sign up and more services and products will be available for token holders.
I will finish this review off with a use case:
A Gym is opening a new branch in the city. They publish that a certain number of tokens will be issued to the first one hundred users. Users visit the gym and signin at the specific location on their fitness wallet and tokens are received for the attendance.
If that was not clear, maybe another use case scenario will make things more clear.
Imagine a sports shoe manufacturer which wants to promote brand awareness and decide to sponsor a comrades marathon. The company publishes this on the wallet portal and users get notifications that they can use any app to complete the task and earn rewards from the lympo wallet.
The users attends and paticipates in the marathon, the data is submitted and the tokens are credited to their wallet.
To get in and be involved in this promising ecosystem visit Lympo website and grab yourself some LYM tokens while they are still very cheap. They are still in preICO phase and it is ending on the 3rd of February 2018. Remember I am not your financial advisor and I encourage you to do your own due diligence and formulate your own opinions then decide for yourself if this is for you or not. You can find their whitepaper here. You can also join the telegram channel here.
https://lympo.io/
Whitepaper : https://lympo.io/wp-content/uploads/2017/12/whitepaper.pdf?v5
Facebook : https://www.facebook.com/Lympo.io/
Twitter : https://twitter.com/Lympo_io
Telegram : https://t.me/lympo