FitLeap wants to launch a new fitness app on the market. Users will be rewarded for their fitness activities – FitLeap offers an incentive system for sporty people. A blockchain is to be used to store whether users have actually followed certain activities. The data packages then store fitness data such as the number of steps or calories burned. In an interview with Fitleap-CVO Lars Müller.
With FitLeap, a new fitness app will soon be launched on the market. How do you want to differ from the countless other fitness apps.
What does this Bitcoin news have to do with Blockchain?
Fitness apps on the Bitcoin news market have one thing in common: they collect your data and store it centrally in order to market it or, in the worst case, sell it to third parties on the Bitcoin news. With Fitleap, every user has full control over what happens to their data.
Your data is encrypted on your mobile phone and you decide whether you want to share it or not. We use blockchain technology to prove that you have really done certain activities (e.g. 10,000 steps). It’s like proof that you’re really fit. How exactly does it work? A hash or fingerprint of each data packet (steps, burned calories, etc.) is stored on the blockchain.
Every time new data is added, we check whether old data has been changed. If cheating has occurred, as with the Bitcoin blockchain, no new transaction is accepted. One can also imagine that there is no Bitcoin in your wallet, but the proof of your healthy lifestyle. We call this Health Asset.
It is also particularly important that we dock to all existing fitness apps. So you can continue to use your favourite app and – ideally – exchange already collected data directly with us for rewards. This makes us an “add-on” to existing apps on the market and our incentive and gamification approaches bring activity back into the apps of our interface partners – a real win-win.
And you certainly want to bring out the Bitcoin formula that will make you a lot of money?
For our users there will be a Bitcoin formula token as an incentive for their activity. However, this can only be earned through physical activity and redeemed in our FitLeap Marketplace for your favourite products. Ergo, we do not sell tokens in a token sale.
In order to provide our company with more capital, we are working with industry experts, lawyers and other blockchain companies to develop a regulated security token that allows investors to directly participate in our entrepreneurial success in monetary terms. We will distribute a dividend, which is defined by our turnover, to all investors via a Smart Contract. More details can be found in our weekly live streams in our Facebook group.