Why the health and fitness industry needs blockchain

In the technology age, it would be uncommon for the average health and fitness enthusiast to be free of at least one app or platform that they credit to helping with performance or motivation. These days, there is a tech solution to help motivate you to run, do yoga, design a tailored HIIT workout, and even to sleep.

These platforms have gradually empowered individuals to control their fitness regime and have even led to a decline in gym memberships; with many opting to leverage streaming platforms like YouTube for workout videos, or apps which act as a personal trainer in your pocket.

What these platforms have in common is that their value is attached to the data they capture — your data. If you’re using anything online, your information is being captured. In most cases, there is a value exchange — the provider offers you free, or lower-than-a-gym-membership service and you accept that they will be able to see how often you train, as well as your age range, progress and other information which is valuable to various organisations who can use this data for research, and the development of future products.

Blockchain empowering users
While it is not inherently bad that platforms benefit from your health and fitness data — as long as you are getting a high-quality service which benefits you — it seems somewhat unfair that there has never before been an option for you to capitalise on the value of your data. Sure, you get the service, but did anyone ask if you would like a slice of the pie when you’re information is being sold? Likely, they did not.

What blockchain does for anyone partaking in health and fitness, is put you in control of your information. Blockchain applied to a health and fitness solution enables users to track their health and fitness performance, as well as controlling the data collected. It balances the scales back to where it should be — you owning your information and determining how you would like it distributed and how you would like to be rewarded for it.

Blockchain offers the purchasers of this data “proof of fitness”. This information is valuable, and you can charge for this.

The true value of data
While many of us have happily participated in this exchange (my data for your service), many of us have not realised just how valuable the information was when we were blindly giving it away.

Your data, while also valuable today, will increase exponentially in value over time. This will happen as new technology is able to make sense of past data, thus making it more valuable to the user in the future.

The benefits to users and the world are numerous:

• This data could create the ability to reduce insurance premiums
• It has the potential to predict the likelihood of disease before it occurs
• It has the potential to suggest preventative medicine to help mitigate against possible future issues
• Users can monetise their data, and profit by receiving a portion of the revenue from selling into a large data pool

We are entering into an age where the consumer has the power, and it is in the interest of businesses to give them more control. Blockchain offers the health and fitness industry the ability to reward consumers fairly for the information they share, in a completely transparent, safe and secure manner.

PUML is leveraging blockchain and powering the sweat economy by rewarding healthier lifestyles and keeping a secure health and fitness record, which integrates multiple fitness data sources. To learn how you can own and profit from your fitness data, follow us on Telegram.