Have you ever thought how Bitcoins can actually transform the fitness industry? It seems strange that this technology could change the way the fitness world runs. Blockchain is the underlying technology for Bitcoins and many other crypto coins. The idea behind the blockchain was to combine security and privacy in transactions. So, the blockchain is really a public ledger written in ink that cannot be erased. Every data in the blockchain is a block that is verified by users, and this data need not only be economic in nature; it could be data on music, videos, or any other information.
No surprises then why the blockchain technology is being hailed as a disruptive technology with potential to penetrate almost every industry. Startups are looking at new ways to create applications using this technology. Blockchain has now successfully made its foray into the world of healthcare, medicine, supply chain, food and beverage, and even fitness. Blockchain has also ventured into autonomous trading to deliver effective trading to the investors; read this bitcoin evolution review for more details about autonomous bitcoin trading. But one may wonder what running or working out in the gym could have to do with this technology.
How is the Bitcoin changing the fitness world?
Most of us are serious about staying fit and healthy these days. As lifestyle diseases keep growing in number this need to stay fit has merged with technological advancements to create a wide variety of fitness apps, activity trackers, and wearable technology. Use of smartphones boosted this industry and mobile fitness and health apps currently account for more than 3 billion downloads.
Blockchain developers are realizing the prospects that the fitness industry can provide, and accordingly have come up with many new products. One notable application is incentive distribution. So, engaging in exercises is something that can be incentivized. For instance, Lympo is a fitness app rewarding users with LYM tokens because of fitness and wellness activities they do. Users may use these tokens for buying goods or services in Lympo marketplace.
User data stored in fitness devices, like calories burned or steps walked can be breached. This data must be kept secure and private, and this is where the Bitcoin and blockchain comes in. Data that is recorded in the blockchain cannot be traced back to users, so user privacy is completely protected. Data that your trackers collect belong to you exclusively, and a third party trying to use such data must compensate you. So, the blockchain technology lets users get compensated for fitness data. For instance, the Bitcoin SV is ideally suited for this as its transaction fees are minimal.
Blockchain has revolutionized the training concept altogether. Whether it is a gym subscription, a fitness course, or a personal trainer, blockchain technology lets users avail of these without stepping outside their homes. Users can connect and download content from sites and make payments for access to professionals and services. Personal trainers upload programs, instructions and advice to the blockchain for all to follow without need for an intermediary. Transcendence is one project working on future cryptocurrency implementation; when this project starts, users can ride bicycles and mine crypto coins. Such projects are dedicated to getting the Bitcoin into the fitness and sports industries all over the world. Henceforth, a person can engage in any type of fitness activity and get paid for it. Fitcoin is one such project trying to make a way for people to earn Bitcoins by burning calories.
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