Why Fit Chain - What gets us up every morning?
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What inspired us to create the first distributed fitness app? See why we had to create Fit Chain and the benefits it can bring to society as a whole.
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Why Fit Chain - What gets us up every morning?
- 2. £400 Million p.a. £460 Million p.a. year on year Growth for past 10 years 8.5% of Millennials exercise or want to81%
- 3. £4.9bn 9.9mn 7,038 UK gymsmembers Estimated total market value UK Fitness industry 2018
- 4. YET…
- 9. Even though fitness and especially fitness apps are the fastest growing industry in the UK (2018). – Obesity, diabetes, cardiovascular disease and metabolic syndrome are still on the increase affecting millions of homes throughout the UK and putting unmanageable strain on the NHS.
- 10. Medical Research Budget 2017/18 £814.1 million £380.2 million University grants University programmes £194.1 million Institutes programmes £150 million Medical schools £71.4 million International subscriptions £18.3 million UK Medical research still use expensive small clinical trials, META studies and larger observational studies. Sometimes these studies can lead to misinformation and Inflammatory headlines causing confusion!
- 12. £814.1 million 58% of all smart phone users have downloaded and used a fitness app 98% of all UK residents have mobile phones.
- 13. Large percentage of population not being motivated to get fit and maintain health Users can work towards completingCHALLENGES that can be either pre-set or created by users or friends within a group. For every challenge completed users will earn ‘Token’s’. These ‘Tokens’ will have a real- world value from online cryptocurrency exchanges as Fiat currency and can also be used to buy health products online. problem solution
- 14. Huge issues with personal data privacy and protection On signing up to the app users will answer a short questionnaire to help the algorithm calculate the user needs and then the user will receive a random computer generated 20 digit private key. This key will only ever be known to the user ensuring all personal data is anonymous. This allows the user to sell their data online and earn money. problem solution DATA PRIVATE KEY PUBLIC KEY A4$h*L @9T6- +R06#n1 PR39 CYPHER TEXT DATA
- 15. Medical research studies using outdated methodologies can cause panic and public confusion problem solution £ £ £ £ £ £ Via the ‘open-ledger’ network that our app is based on, medical research institutes can sign up to having immediate access to users ‘live’ data.This will allow these institutes access to millions of users daily health data yet ensuring all users remain anonymous.The user will receive a direct payment using ‘smart –contracts’ for any data used. Research Institutes Users Miners