Everyday we generate billions of data points about our health and fitness - when we do sports, when we visit the doctor or when we track our nutrition. Yet, we barely scratch the surface of its potential. How can we use it to our own physical and financial advantage? How can we allow others to create value with it while remaining in full control? Imagine an incorruptible safeguard for your data that seamlessly connects you with all the institutions, companies and people that can help leverage it. Introducing BEAT: a state-of-the-art blockchain platform that safekeeps your health and fitness data and lets you share it with sports sponsors, talent scouts, doctors and many more to unlock its vast potential - one heartbeat at a time.
The BEAT Blockchain will enable the user to store his verified sports health and activity data anonymously and encrypted in the Blockchain. Only the user will have truly comprehensive access to his data. The user can autonomously decide if he wants to become a Data Provider by sharing specific data based on a contractual agreement with future Data Consumers. The Data Consumer only gets access to the data as agreed in the contract and for the sole purpose defined in the contract. The Data Consumers will appreciate such ease of access to verified and unchangeable data.
This concept will require “trusted third parties” (TTP) like management software for various health and sports providers, apps, smartwatches, fitness trackers, digitally enabled equipment, gyms, clinics, physicians, trainers, etc., tracking, verifying and storing the health and activity data of the user in the BEAT Blockchain. This verifying and storing will require extensions and modifications to those systems already existing, enabling the owner of the data, i.e. the user, to store his data safely in the BEAT Blockchain under his control.
Getting the BEAT Blockchain to work will allow great things to happen like:
Facilitate Sports and Talent Sponsoring - billions in sponsorship money are waiting to be spent on target.
Any sponsor, be it parent, friend, employer or insurer, can reward their targeted sportsperson for verified sports activities with the ease of a fingertip.
Any sponsor can create sport challenges and delegate the objective verification to the BEAT Blockchain. This can start with a simple bet between a sportsperson and a trainer moving to a worldwide challenge for training most with new sport equipment.
The rewards stipulated in the sponsoring contract can be a contractual obligation settled outside the BEAT Ecosystem or be the transfer of BEAT Tokens, settled directly by the BEAT Ecosystem, making BEAT Tokens the reward exchange token of sports.
Insurance Companies are able to reward a healthy lifestyle
Supporting medical research and development
Providing physicians and physiotherapists with a truly comprehensive view of health and activity data
The initial BEAT token sale ("ITS") will finance the initial development of the BEAT Blockchain covering some basic use cases in the area of fitness and sports and the enhancement of our sports facility management software including its ecosystem. We, the issuers of the BEAT Token, invite you to participate in this ITS. We are a team of 140 professionals, dedicated to promoting sports and support the convergence of the sports and the health industry. We have spent the last four years and invested tens of millions of Euros to develop one of the world’s leading digital infrastructure for sports facility management. 3,000 German gyms (40% of all German gyms) already are using our sports facility management software, whereas the number of gyms, as well as our client base, is growing rapidly. With the proceeds of the BEAT Token ITS we intend to finance two developments:
● Extend our digital ecosystem to support the BEAT Blockchain
(We need at least one TTP to launch the concept. Sports facilities are an excellent place to start with tracking and verifying sports activities.)
● Build the first version of the BEAT Blockchain
After its development we will release the BEAT Blockchain as open source and establish the BEAT Foundation, after the ITS. It will be responsible for the further development and operation of the BEAT Blockchain developed by MySports. The BEAT Foundation will be controlled by three groups of stakeholders involved in the usage of health and activity data: the Data Providers, the Data Consumers and Trusted Third Parties (TTP).
The BEAT Token can be purchased during this ITS for at least 1 Euro-Cent per BEAT Token. The BEAT Token can be used to access smart contract based health and activity data. Therefore, there will always be a constant demand for BEAT Tokens to interact on the BEAT Blockchain. Anyone purchasing BEAT Tokens during the ITS can use them in exchange for favors, services or goods of Data Consumers participating in the BEAT Blockchain and the BEAT ecosystem or trade the BEAT Token on a secondary market if such market develops.
The BEAT Blockchain builds a bridge of trust between Data Providers and Data Consumers as well as between trusted third parties (TTP). It enables the user to control his personal data and allows to share it with sports sponsors, talent scouts, doctors, insurance companies and many more to unlock the vast potential hidden in his health and fitness data.
The world of sports and health is about to change, be part of it, join this ITS!
Team - right mix of everyone
Vision - converting hartbeats into value added content gets attention - very cool
Product - missing on how pesonal data will be used on blockchain
Strong team behind the project with a Made in Germany tag. But is it similar project on the lines of Lympo, which recently conducted its ICO? How will you differentiate yourself? The roadmap is not outlined in detail for the upcoming quarters. Hard cap is set too high and don't think you require this amount of money at this stage.
I am a big advocate of the health industry. However this is a data sharing app. They are looking to raise $70 million for this data sharing app. There is no mention of how the $70 million will be allocated or why they need that amount. The team looks capable but they have no advisors listed on the project to help them through this.
This rating does not represent financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
For the project that takes an existing business and launches a new product line the idea is presented vaguely and without much disclosure - no technology (at all) vision, no use of proceeds (except to say "taxes first")/financial plan - just approximate budgets (pretty high) for implementing certain use cases/features.
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