Data has been a controversial topic as of late as people start to realize exactly how much of their data the likes of various social media giants are collecting and then selling. People are mostly upset about the fact that these companies are not at all transparent about what they're doing. Often hiding tidbits in their terms of service that keeps people from knowing exactly what they are sharing.
Lympo wants to take a different direction by being completely transparent. Not only will they outright tell you that they are collecting your data, but that it's the main point of the entire platform. Which honestly, is no different from any other platform you're already using, just more honest.
There's one more thing though. They're also going to pay you for it! Knowledge is power, and your data is the most valuable asset available. It's what the business world uses to learn how people think, what they buy, what they need, and how their business can profit from these findings. Facebook has made a mint by neatly packaging information that users have willingly submitted but may not exactly be aware what its being used for. The key difference being of course that no Facebook users has ever seen a cent of these profits. Lympo wants to do more or less the same thing, but they want to share that money with you.
The Lympo application will be integrated with wearable health tracker devices. Most likely the kind people are already using everyday to track their workouts. Companies can then issue challenges on the blockchain, effectively sponsoring those who are providing the health data that they need. The other important factor here is that this usage is more transparent. You will be asked to opt in to these collections, and not automatically opted in like with past collection methods that have angered many people.
This gives you power over your data. If you wish to use your data as a tool to be rewarded and to gain additional incites on your health the option is there, but should you choose not to participate in a particular collection you don't have to do anything to not participate. There are no tricks like with other "opt out" methods of data collection.
Once you've accepted a "challenge" your data is collected based on a number of specifics, and then it's registered on the blockchain. After everything is collected LYM tokens will be credited to your in app wallet, and just like that you've been paid for exercising. After which you'll be able to trade your earned tokens for fitness related goods and services on their in platform marketplace.
If you happen to be a LYM token holder you also will be able to become a company shareholder! They are the first ICO to actually do this, and a 20% share is reserved to be distributed to token holders. This gives you real decision making power in their ecosystem, and it's pretty neat.
Lympo's ambitions don't end at fitness tracking apps either. They've also got big plans in the health world. Their platform is also aiming to be a launching pad for other fitness related startups to find business partners and investors. Health Insurance providers can use Lympo to offer incentives for more active clients who are working to improve their health. Gyms can use the platform to create reward programs to up their attendance levels, and to attract new members to their facilities.
Still though, when it comes to health data and the blockchain I think the most valuable sharing of this data will come from the health care industry itself. Healthcare is notoriously inefficient, and I believe that by utilizing the blockchain practitioners can not only use these apps to better track the health data of their patients to treat them more appropriately, but it could also be used to make transference of sensitive health data more efficient, and to prevent medical mistakes due to inaccurate, missing or miscommunication of that data. Lympo is a tool, and there are many ways it can be used that maybe even the creators haven't yet thought of. That's the beauty of the blockchain.This was my entry for the OriginalWorks Contest.
lympo2018