Drinking list
Lympo – blockchain fitness revolution

Lympo is building an app, a fitness wallet, which will help people to reach their healthy lifestyle goals and earn tokens in return. Lympo users will be able to share and monetise their fitness and wellness data which they all track on their phones and wearables. Their goal is to build a healthy lifestyle ecosystem with Lympo token LYM being used as a utility token in order to pay for fitness, wellness and other health enhancing products and services, earn token rewards for fitness data, register permissions to share this personal data, interact with health insurances and employers who want to encourage their staff to remain healthy and developers who submit new applications to further use fitness data.

THE HEALTH INDUSTRY AND THE BLOCKCHAIN

Blockchain is a distributed system which records and stores transaction records, in a fashion making it impossible to change the content of the transaction in a digital ledger. Each transaction block is stored in the ledger and chronologically linked to another block after the transaction records are verified by a distributed peer-to-peer network. End-to-end encryption makes an interaction like storing, exchanging and viewing information possible without established trust between the parties. Avoiding one central authority, blockchain relies on an anonymous network of participants preventing privacy and confidentiality breaches.

Blockchain-based smart contracts represent contracts that can be fully executed when contract conditions are met. This system unbundles the need for any kind of exchange with an intermediary checking contract conditions. Until now, intermediaries played a crucial role in exchange of value situations, thus earning from their role. Smart contracts enable end users to enter a trusted relationship without any other authority.

BLOCKCHAIN APPLICATIONS IN THE HEALTH INDUSTRY

Healthcare might be a latecomer in the booming growth of enterprise blockchain apps, but it is getting more and more prominence as a promising technology to solve major issues in the sector of health data management even on a governmental scale.

Most existing or projected blockchain applications in healthcare fall into these categories:
– Interoperability between medical institutions
– Electronic medical records
– Insurance
– Medical trials
– Genomic research
– Patient-generated data/Quantified-self data commons
The Lympo ecosystem starts with a product that belongs to the 6th category.

LYMPO BLOCKCHAIN FOR SPORTS FOUNDATION

A part of the tokens reserved for the ecosystem empowerment will be allocated to Lympo Blockchain for Sports Foundation. The aim of this foundation is to support various sports events and initiatives around the world with the goal to promote Lympo fitness wallet and to encourage a healthy lifestyle.
The foundation board, composed of famous athletes, Lympo partners and leaders in sports communities from various countries, will oversee the foundation activities. Lympo token holders of at least 1,000,000 LYM (the amount will be adjusted in two years based on community vote) will be able to vote on funding proposals. The composition of the board and foundation governing principles will be announced before the Lympo token sale in the first quarter of 2018.

LYMPO: USER REWARD SOLUTION DESCRIPTION

While Lympo includes three major parts, a user reward mechanism, a marketplace and a crowdfunding platform, rewards for a healthy lifestyle are at the core of the product and will be discussed in detail. They have also included a provisional model of the data sharing environment with description of components, permissions and actors.
The fitness/health data sharing ecosystem is based on three major components:

  • Lympo Platform: core components developed by the Lympo team and partners
  • Blockchain: Lympo tokens, smart contracts and crypto wallets
  • User community: Users, who will live healthy lifestyles and will interact with dierent actors in the ecosystem to find trainers, partners, make agreements, share data and get rewarded.

The Lympo tokens are a key element which facilitate all interaction in the system in relation to the community and a healthy lifestyle. The tokens are used to incentivize people to be active participants, make connections and improve their health. The tokens are distributed on the Ethereum cryptocurrency blockchain. This, of course, imposes certain standard rules for the community.

 

If you want more information, visit the WEBSITE and read the WHITEPAPER.

No comments so far!
Leave a Comment