Introducing Lympo — Empowering sports and health enthusiasts through the blockchain
Back in 2011, when the World Economic Forum declared personal data as a new asset class it was hailed as one of the most valued and expensive assets. However, it’s a harsh truth that our personal data is no longer our personal asset.
And in an age and time where users produce valuable data with literally every step they make, there is a clear-cut trade off. Either users let go of ownership of their data, or they lose the benefits of sharing their data with the rightful parties.
This trade off is especially painful when it comes to your health-related information. Getting feedback from a sports or mindfulness coach, physical therapist and even a general practitioner can be crucial in making someone healthier.
In light of this major problem, Lympo is seen as a saving grace. It’s here to revolutionise the health and wellness industry, one stakeholder at a time.
With an extremely qualified and diligent team that come from diverse backgrounds and nationalities and having immense expertise in their respective fields, Lympo is a remarkable platform. Backed by highly accomplished and famous advisors who are leaders in the field of blockchain, fitness, technology and asset management, Lympo can solve the problem of owning and monetising personal health data.
Lympo is a sports and health ecosystem powered by priceless user-generated and user-controlled data which can help generate exponential returns for industry stakeholders and users alike.
How does Lympo work?
Lympo’s ecosystem is comprised of an app which is a fitness wallet that rewards users with Lympo tokens (LYM) for sharing and achieving their health goals. The platform also comprises of a marketplace where healthcare products and services can be purchased with LYM tokens. The third wheel in Lympo’s ecosystem is a crowdfunding platform which allows LYM token holders to invest in the most promising ﬁtness/wellness/health start-ups.
The wallet in Lympo’s ecosystem is for sharing of health and fitness data and includes all industry players: personal trainers, gyms, sports and wellness businesses and health insurances.
By tracking fitness and wellness data on smartphones and wearables, Lympo aims to build healthy lifestyles and grow the Lympo community. Tokens earned can be used to pay for fitness, wellness and other health-enhancing products and services.
What are the benefits of Lympo?
1. Having Ownership of Valuable Health-related Data
We have all, either voluntarily or involuntarily, become part of a ‘quantify’ movement in which smartphones with health data tracking or a mHealth app or a ﬁtness wearable are being used constantly. While we are busy quantifying ourselves, the companies whose products we are using are busy collecting our data and generating proﬁts from it. Hence, there is a strong belief that users should own the data they generate.
In light of this challenge, Lympo presents a health and ﬁtness app data aggregator that does not share users’ data, but enables them to monetize it instead. Users can share the data with other stakeholders only if they wish to and their consent is recorded on a blockchain.
2. Integrating various segments of the health and wellness industry
We see a growing trend towards aggregation of information in various sectors of business, finance and sports, but rarely is that visible in the mobile health data domain. Most apps focus on one speciﬁc area, and providers gather only very speciﬁc information. Some of the few aggregators that do allow integration have reluctant users that see no real advantage of storing the data in one place. The central problem is that integration is being demoted to occasional data sharing on social media, with more and more data falling in the hands of the provider without any really benefit for the user.
However, when such data is shared with the rightful parties it would be very valuable in offering extremely effective and tailor-made services and products. Lympo comes into the picture with a two-fold approach of having the digital wallet that rewards customers for sharing the data that they own, and having a marketplace where these rewards, which are offered in terms of LYM tokens, can be used to purchase products and services from the health and wellness market. In fact, the current platform of Lympo allows users to choose from 500+ fitness professionals, dieticians and therapists as well access the Smackway marketplace or Gympro’s tools by using these tokens.
3. Allowing for free flow of data to benefit all stakeholders
The current race in the mobile health industry is to come up with a better mechanism to lock a user within one platform. This discourages integration and data sharing while the valuable information remains stored with a single provider. Data protection laws also play a role in ensuring that users’ personal data moving across different businesses as well as across the border with their permission.
It’s important that there be free flow and sharing of relevant information, while at the same time ensuring security of this data. Private ownership of sports and health data opens doors to user-controlled data sharing whereby the information ﬂow can be managed by the individual and this can be a decisive answer to the data flow problem.
Through Lympo, this answer becomes reality. The single most important feature for users of our platform is that they will have the right to decide who gets to view their data. In return, they get rewarded with LYM tokens for giving access. Hence, Lympo meets demand for data with supply, but without resulting in undue influence or exploitation of the supply.
Participating in Lympo’s PRE-SALE
Lympo’s ICO is a couple of months away. However, early adopters can line up on Jan 23rd, 2018 to be a part of Lympo’s official PRE-SALE of LYM tokens.
The pre-sale of LYM tokens starts on January 23rd at 12:00 (London time) and ends on February 3rd 23:59 PM or when the hard cap is reached. 150,000,000 LYM will be on sale with a 20% bonus for the first 30 million LYM tokens and a 10% bonus for the next 20 million LYM. All remaining tokens will be worth 1 ETH for 30,000 tokens. The maximum threshold during the pre-sale will not exceed 10,000,000 LYM tokens, whereas there is no minimum threshold. All unsold tokens will be burnt.
To participate in Lympo’s PRE-SALE or to learn more about the platform, you can click on this link to go to Lympo’s official website.