Some people might remember the FitCoin project that was announced recently. Similar to what Bitcoin offers to miners, FitCoin wants to do the same for those who are looking to get in shape and stay healthy. Getting rewarded for physical activity sounds great on paper, but it is still doubtful this concept will translate well into the real life.
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FitCoin Sign Up For Early Access
Back in March of 2015, we made our first mention of the FitCoin project, which aims to reward people that are trying to do get in better shape. Fitness and health are a booming industry right now, and it only seems to make sense to reward consumers for trying to improve their lifestyle in an active manner.
Things have quieted down regarding this project for quite some time until the FitCoin team made an appearance at the recent SXSW convention. Apparently, the project is still on track to be launched in the future, although no specific details have been announced just yet. Interested parties can sign up for early access to the FitCoin project on the team’s website, though.
Now that wearables have managed to gain somewhat of a foothold in consumer homes all over the world, the FitCoin team plans to pull your workout data from those devices. It remains to be seen how the company intends to do this exactly, although most wearable manufacturers and app developers offer some form of API access to build third-party services.
Once FitCoin launches, users who perform their workout will be rewarded in Bitcoin, although the company has not yet provided any details as to how much one could ‘earn”. Rather than developing their digital currency, the FitCoin team decided to use Bitcoin, as it has an established presence in the global market already.
As one would come to expect from such an initiative, the plan is to make people work out as hard as possible. It would be quite easy to game this system otherwise, which is not the objective. According to their – temporary – website, FitCoin will measure the length and intensity of one’s workout, and correlate that to CPU mining. If this will be the case, rewards will be pretty minimal for most people, though.
Source: The Star
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