How Digital Health Companies are Paying Users To Work out, Stay Sober and Share Data Using Crytocurrency Rewards
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Cryptocurrencies may change the way we share data or interact with physicians.
What if you could get paid for every calorie you burn? What if your bank account grew for every day you adopted a healthy lifestyle? Every time you said “no” to an unhealthy substance? What if you could make money by sharing your medical data with healthcare companies or researchers?
Me? I’ll gladly accept compensation for maintaining my own health!
The healthcare sector boasts one of the most active and fast-changing landscapes as far as innovations; it is highly inundated with data, but much of it is not readily available for research purposes. That has been a major setback when it comes to implementing machine learning and other AI-based tools in the field. Scientists, doctors, and engineers require robust, available data to train their models and deduce valuable conclusions that might change the world.
To positively transform our healthcare system, we must devote attention to influencing patients to share information related to them. Detailed and unabridged health records can unlock improvement among all aspects of patient health, including equity, efficiency, education, communication, patient-centeredness, and safety.
In this article, we will examine how digital health companies are using cryptocurrency and blockchain-based technologies to motivate people to burn calories and also share their medical data.
Please note that this list could go on and on; there are several other companies out there adopting similar practices.
Some Digital Health Platforms That Reward Users With Cryptocurrency
HealthWizz facilitates users in sharing their health records with pharma companies and researchers. In exchange, they earn electronic currency. The company developed a mobile-based app (available on Android and iOS) that helps patients organize their medical records, secure their data, and distribute it to relevant organizations. Users aggregate their data from multiple sources, including wearable technologies, genetic data, laboratory results, and EHRs. They can participate in different trials and earn the OmCoins (OMC) as incentives. OmCoins, in turn, can be used as payment for highly personalized pharmaceutical medicines, medical services, or gym memberships.
This company compensates patients who share their medical histories and data with researchers. Embleema tokens are their method of payment. The platform’s PatientTruth allows users to share data with healthcare providers and researchers alike.
Lympo is a fitness-based platform that rewards users based on their healthy behaviors. It does this via its cryptocurrency known as the LYM token. It is a Lithuanian startup that has its own Lympo platform, where the tokens can be exchanged as payment for goods and services. The LYM tokens can also be utilized on Lympo crowdfunding platforms that are mainly engaged with data-driven companies. Interestingly, the former Estonian Prime Minister, Taavi Roivas, is the chairman of the company’s board. The Lympo app is available for Android and iOS devices, and at the time of the writing of this article, there are over 1.2 million Lympo users scattered all over the world.
This app assists users in mining cryptocurrency and tokens with their bodies. It employs the use of wearables that track estimated calories burned and heart rate. The better you do, the more you mine for GYM currency. The tokens are sent to a user’s EOS wallet and traded at participating exchangers. The app is available on the iOS store with plans ranging from a starter, silver gold, and platinum packages. The starter plan is free, while users must in order to enjoy an upgraded version.
With over 40 million users worldwide, Sweatcoin is one of the most downloaded health-based cryptocurrency reward program apps. It tracks outdoor activities like steps taken or calories burned and converts that data into cryptocurrencies. The app achieves this by utilizing the GPS locator and accelerometers in the user’s phone. Sweatcoins can be exchanged for many goods and services, including high-tech shoes, yoga classes, and Apple watches. The platform also allows users to donate their mined coins to charities of their choice. Sweatcoin was reported on by the British Journal of Medicine in 2018, and here is a video review about how Sweatcoin works.
Lifecoin works similarly to Sweatcoin, with a bit of a different look. After accumulating your lifecoins, you can purchase items like quadcopters, AirPods, Beats headphones, or an assortment of gift cards. The lifecoin app is available on iOS and Android platforms, and it has over 10,000 downloads.
7. Charity Miles
Charity Miles is a little different from every other platform on this list. With no online store, every cent you work from walking goes straight to a charity organization of your choice. All you have to do is download the application, select one of the 42 organizations you wish to earn money for, and start walking. The app will measure your distance covered and donate money accordingly. At the time of writing this article, an astounding 2.5 million dollars have been donated via the app.
The Runtopia platform focuses on improving fitness while providing incentives for doing so. It allows you to set exercise goals for cycling, walking, and running, and an audio coach motivates you during your workout session. The Runtopia app (available on iOS and Android platforms) comes with training programs that help you warm up and stretch. Although unlocking some of the features are subscription-based, many are offered for free. Runtopia rewards users with sport coins that can be redeemed for PayPal cash, coupons, free memberships, or products. You can join Runtopia here.
Very little motivates more effectively than money! Anything that can help push us toward maintaining healthy lifestyles is positive, and the above companies do just that. As we exercise, diet, or overcome addictions with their help, we are also contributing to the enormous and crucial pool of health information. That data augments research and technology development, thus assisting the health industry’s more rapid progress. All the while, blockchain-based technology and cryptocurrencies makes these applications safe and easy to use.
Is cryptocurrency the future of digital health? Let us know what you think about the listed platforms in the comments below. We would love to hear from you soon, and please don’t forget to share!
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