How Blockchain Is Promoting A Healthier Future
Blockchain technology was conceived by Satoshi Nakamoto to power the iconic cryptocurrency Bitcoin. It was a resounding success, enabling Bitcoin to establish itself as the world’s first genuine, decentralized, peer-to-peer electronic money and payment system.
However, it was quickly realized that blockchain can also have applications in many other areas besides money, and one of the most interesting use cases looks to be health and fitness. Blockchain-powered databases, NFTs, tokens and metaverses can all transform the way healthcare is delivered, while encouraging people to live healthier lifestyles.
Blockchain is a distributed ledger that’s stored across multiple computers. It’s immutable, meaning it cannot be hacked or altered, because whenever new data is added, the entire distributed network is updated, ensuring that each one’s record is exactly the same.
Blockchain’s potential applications in the healthcare industry have been well documented. It’s the perfect technology for storing healthcare records, and can be used to make them more accessible and accurate, while safeguarding privacy too. Medical researchers can use blockchain to share their work, collaborate and give consent for data collection and access. A blockchain-powered healthcare record would also benefit from its high level of encryption, thus preventing data from being stolen by hackers. Healthcare supply chains can also use blockchain, ensuring that all medical machinery and pharmaceuticals can be tracked in a transparent way.
Those are just some of the most obvious ways blockchain can impact healthcare, but its potential extends to more creative use cases. A company called Bowhead Health is using blockchain to help people understand, interpret and even monetize their health data. It’s a fitness app that keeps track of your exercise activity and things like the amount of water you drink, how much you sleep and so on. Users can earn the platform’s native cryptocurrency for setting and achieving fitness goals, and can even sell their health data to third-parties that are interested in accessing it.
The health and lifestyle Calo Metaverse has introduced the FIT token, which runs on the Ethereum network. It provides a decentralized way for users to purchase memberships or fitness items via mobile applications or the web, giving them discounts on subscription services and creating a more accessible environment for new users.
Blockchain can even provide a direct incentive for people to keep fit. The Sweatcoin application, is a unique fitness app that features “move-to-earn” mechanics. The app connects to the Google Fit or Apple Health app and monitors how many steps an individual takes when they’re out walking, jogging or running. Based on the number of steps the user takes in a single day, they will then be rewarded in a cryptocurrency known as SWEAT. Users can earn 1 SWEAT for every 1,000 steps they make, up to a maximum of 5 SWEAT (for 5,000 steps) in a single day.
The SWEAT tokens can be redeemed for a chance to win sports merchandise, services such as online training sessions and yoga classes, apparel and more, or alternatively be donated to charities. By enabling people to earn crypto simply by walking, it provides a real incentive for people who’d like to maintain a healthier lifestyle, but require some extra motivation to get them going.
Meanwhile, Global Fit Club is the world’s first universal gym membership that pays members to workout, offering unique benefits. Individuals can become members by acquiring an NFT that gives them access to both in-person gyms and online classes, as well as discounts on services provided by its partners. Examples include yoga classes, personal trainers and fitness equipment.
Personal trainers too, can benefit from blockchain. SuccessLife’s public network enables creators to distribute content such as fitness classes and earn SL tokens the more it is accessed by other users. In this way, its platform enables creators to own the content they publish and any revenue it generates, without using a middleman to publish it for them.
As blockchain technology evolves, it promises to transform the healthcare industry for the better while incentivizing keep fit routines, ensuring that everyone can lead a healthier, happier and more active life while being rewarded for doing so.
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