BEAT - Unlock the Hidden Value of Your Health and Sports Data
Imagine an immutable record of your health and fitness data that seamlessly connects you with all the institutions, companies and people that can help you leverage it. Created in 2015, the BEAT ecosystem is exactly this: a state-of-the-art blockchain platform that safekeeps your data and allows you to share it with sports sponsors, talent scouts, doctors, researchers, insurance companies and many more to unlock the vast potential hidden within your verified health and fitness data.
To understand the potential use cases of the BEAT ecosystem, let us take a look at the breakdown below:
Own & monetize your fitness data
At BEAT, we believe that your data should belong to you, not to a corporation. We believe that you should be able to choose which parts of your data that you want to share, and with whom they are being shared with. Therefore, we are building the BEAT ecosystem to give our users the option to sell their data to various health and fitness data consumers around the world in exchange for BEAT tokens.
In other words, the BEAT ecosystem aims to bridge the gap between Data Providers, (everyday users of the BEAT platform), and Data Consumers, (companies, researchers, and advertisers who benefit from the access to organically-created fitness data) in the fitness industry. Users of the NoExcuse app, as well as a variety of other in-house fitness data management software, will be able to decide for themselves which data they want to sell for BEAT tokens. Therefore, companies purchasing this data will only have access to the specific data points that our users allow them access to based on a contractual agreement, and no longer will companies have unrestricted access to your health and fitness data.
Employee Health Benefits
In today’s workplace, most employees tend to fall into a sedentary lifestyle due to them staying in a swivel chair and staring at a computer screen for a prolonged period of time. This usually leads to a less healthy workforce and a general lack of productivity, as employees tend to find it harder to focus on their tasks after a long day of work. Furthermore, their lowered immune system due to a lack of exercise also makes them more likely to miss work for a sick day.
To counter that, companies nowadays are beginning to offer incentives for their employees to go to the gym. For example, companies like Hootsuite is striving to make fitness a part of the work life by installing a full-fledged gym/fitness center in their headquarters. There are classes, sessions with trainers, and group-based runs and hikes – all of which take part during the working day.
However, as amazing as that sounds, the current ecosystem doesn’t allow these companies to track their employees' gym usage. Therefore, by implementing the BEAT ecosystem, companies will be given the ability to quantify how much their employees worked out and reward them accordingly. Potential rewards include fitness products (e.g. running shoes, protein powder) or subsidize external gym costs, which can be done by paying sports clubs directly in BEAT tokens.
Rewards and Challenges
We have designed our ecosystem to reward users for going to the gym. The Magicline GmbH team has been hard at work developing and launching the NoExcuse app. To put this into perspective, a user can download the NoExcuse app and go to practice sports or go to the gym. After the sports session, users get rewarded with BEAT tokens proportional to the exercise they do. Users can also earn extra BEAT tokens by syncing their app with over 3,000 Magicline sports club partners in Germany, as well as health and fitness trackers and wearables, which enables them to sell their sports data. Once the user has earned enough BEAT Tokens, they will be able to redeem those tokens on marketplaces like beadarf.de or sell them on the various crypto exchanges that BEAT will be listed on after the end of the token sale.