BEAT is a blockchain platform that helps users keep health-related data safely. The platform allows the users to control and share the health and fitness data with people who need them, like doctors, scouts, sports sponsors, insurance companies, and more. The BEAT whitepaper claims that the platform increases revenue for the users with the utility token BEAT.
In the world of changes, the health and fitness industry lacks data ownership and finding potential people such as customers, agents, sponsors, etc. Therefore the BEAT ecosystem aims to fill this gap and provide solutions using decentralized ledger technology. A decentralized digital database (DLT) is secured using a protocol that enables the decentralized functioning of the database. The platform works for data providers and data consumers on an agreement basis. Both users can access the platform as per their needs. The data providers also get the benefits of using certain services provided by the data consumers either on discounts or at no cost.
The platform uses a TTP (Trusted Third Party) software system to verify user data. A TTP is software trusted by both parties for smooth interactions between these parties. These third parties evaluate all the transactions between these parties. Further, the BEAT (BEAT) platform provides features likeL
To make all of the aforementioned features possible, the BEAT token, an ERC20 token, supports the ecosystem. The token works as a reward exchange token with users. The users utilize the token while accessing the health and activity data from the platform. The users also get BEAT tokens as a reward for using the NoExcuse app. These rewards are proportional to the exercise they do. The companies also encourage their employees with benefits such as BEAT tokens for maintaining their health using this app. The users can redeem these tokens on marketplaces or crypto exchanges. The previous users also get additional tokens via a referral system for their friends.
