MySports and its network of strong partners are developing an open-source blockchain solution which will change the way health data is handled
- BEAT-Blockchain enables effective health and sports promotion
- The associated group of technology companies has already collected 20 million Euros in private investments and runs the digital backbone of the fitness industry in Germany
Hamburg, Germany, May 2018 – Software company, MySports have today announced the ongoing development of the BEAT blockchain, which sets out to solve major challenges in the health industry. The service will act as an open-source platform bringing together patients, athletes and health promoters to ensure fitness data is safely stored whilst being effectively utilised.
Users will be able to transfer and store encrypted, verified data onto the BEAT blockchain with the aid of trusted third parties including well-being apps, smart watches and health and fitness professionals such as personal trainers, therapists and doctors. An individual’s chosen health statistics, sports activities and rehabilitation progress, among other factors, will be stored on the BEAT decentralised system. Once uploaded, users can share their data with trusted promoters to monitor the progress made toward specific targets and reward patients and athletes once goals are achieved. In this way, the BEAT blockchain will allow secure storage of user data from various sources in the health and fitness industry.
With the development of the BEAT blockchain, MySports aims to contribute to the modernization of the health care system. Whilst progressive digitization and an unprecedented amount of health and fitness data offer groundbreaking opportunities for industry, putting this data towards good use poses major difficulties. German health insurance companies and employers alone spend around half a billion euros each year on health promotion and prevention, but the possibility of checking the effectiveness of these expenditures or linking them to conditions is very limited. Although many people are already collecting useful data, several factors including data protection, the sheer mass of information sources and a lack of integrations make it difficult to use these figures sensibly.
“There are currently more than one million different health apps worldwide collecting data, but the enormous inherent potential of this is not yet being fully utilised. Especially for health insurance companies and in-house health management, verified information about the sporting activities of their patients and employees is indispensable because it enables targeted incentives and effective health promotion,” says Daniel Hanelt, CEO of MySports. “With the BEAT blockchain, there will soon be a way to verify and merge all this information, while the user decides for themself which data they would like to share with whom”.
With the “Initial Token Sale” (ITS), which will continue until May 15th, MySports looks to finance the development of the BEAT blockchain for sports applications for millions of users. For more information about the token sale and to view the company’s white paper, visit https://beat.org/.
About MySports GmbH: The company belongs to a group of companies with currently 140 employees and is regarded as a pioneer in the digitalization of the fitness industry in Germany. The NoExcuse app from MySports gives athletes access to training and course plans in their gym and enables them to book services and get in touch with employees. The sister company Magicline GmbH is one of the leading providers of management software for fitness studios. The company’s software is used by 3,000 fitness studios in Germany, which corresponds to a market share of approx. 40%.
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