FITBLOX aims to revolutionize the health and fitness industry by creating an incentive-based social experience that rewards healthy behaviour. Using distributed ledger technology, they aim to provide a safe, secure and private medium of exchange between fitness enthusiasts and strategic partners within their ecosystem.
FITBLOX, unlike centralized fitness tracking applications and social media networks, gives you complete control of your identity and your data. By placing this data securely on a blockchain users will not suffer from the issues related to centralized data repositories.
The FITBLOX DApp will allow users to create an additional income stream whilst staying physically active. Users are rewarded for interacting and mentoring other users with similar goals. It uses a stake-weighted voting system that encourages users to grow their voting and reward power by encouraging participation in their motivational user advancement model.
Users of FITBLOX will gain insights into their health to help them achieve their fitness goals through the DApp. It can track daily exercise routines, help people setting personal goals, provide rewards for progress vs goals, connect people with similar goals, allow people to share their fitness journey, help in organising events, show new workouts and provides a way of interacting via social media.
Your Fitness Data
Most current fitness app users (and net users in general) are constantly connected to “free” online services without realising the value being extracted from the most valuable asset most people own, their digital identity.
The benefits of fitness apps and wearables make it easy to overlook or ignore the inherent security and privacy risks involved. The fact that so much data is collected through a wearable device, such as an activity tracker, means that there are tangible risks involved. Most wearables and apps simply aren’t designed with privacy and security features in mind, despite the sensitive nature of the data they collect.
The Healthcare Epidemic
In the United States alone, two-thirds of Americans are classified as either overweight or obese. U.S. health care costs were $3.3 trillion in 2016 – 85% can be attributed to chronic conditions like heart disease and diabetes. One in three American adults is considered to have pre-diabetes or known to be afflicted with the disease.
More than 2 billion adults and children globally are overweight or obese and suffer health problems due to weight. Over 2.2 billion people were classified as obese or overweight in a 2015 study, with more than 710 million of them classed as obese, with 5% of all children and 12% of adults fitting into this category.
Despite a smaller population, the United States had the greatest number of obese adults, with 79.4 million (35% of the population), followed by China with 57.3 million.
This equates to one-third of the world’s population carrying excess weight, fuelled by urbanization, poor diets and reduced physical activity. The United States has the greatest percentage of obese children and young adults, at 13%.
While it may be a simple task to track nutritional intake and monitor one’s diet, tracking daily activities is significantly more challenging. This problem has led to the development of fitness trackers equipped with sensors designed to track fitness levels around the clock with limited user input.
The current system
In current Fitness Tracker Apps the lack of incentive causes user retention issues.
Monitoring and scoring exercise progress can measurably assist in achieving one’s fitness goals. Fitness trackers existing on the market today can record data such as the number of steps taken throughout the day, stairs climbed, calories burned, and distance cycled.
Advanced features might include monitoring the duration and quality of sleep. More advanced devices can even monitor one’s gait, posture, and form, to provide analytical data to trainers and athletes with more advanced fitness goals. By providing real-time feedback, these devices make users aware of their progress
and identify shortcomings. As a result, today, more than 39 million Americans currently pay for fitness trackers or wearables. Revenue generated by the e-services fitness industry has grown to $8.3 Billion USD globally in 2017 and is projected to
grow by 7.6% annually through 2022 when it’s expected to reach nearly $12 Billion USD.
The e-service fitness industry is comprised of 2 areas: Wearables and fitness apps. Currently, wearables represent 73% or just over $6.1 Billion in annual revenue. Fitness apps generated revenues of just $2.2 Billion in 2017, however that number is projected to double by 2022 to over $4.4 Billion USD globally. Unfortunately, fitness apps that are currently in the marketplace do not adequately incentivize their users to maintain long-term adoption.
FITBLOX’s Incentive Rewards Motivator
FITBLOX promotes health and wellness, both mentally and physically, by merging the experience of social media with fitness tracking technology. FITBLOX will enable groups or individuals to earn immediate tangible rewards for their activities, participating in challenges or contests and sharing content related to their fitness journeys.
FITBLOX will inspire participants to lead healthy lifestyles and reward users that contribute meaningfully to the FITBLOX community over time. Participants that consistently contribute quality content will be eligible for a rewards multiplier. Increased usage and engagement will occur as users interact on the community platform which will result in higher rewards.
Users that actively participate on the platform ecosystem will be rewarded with FBX Tokens that can be used as tender to access a vast library of health and fitness related content or products, including: live or recorded fitness classes, nutritional products, health-conscious recipes, instructional videos, and more.
FBX Tokens can be exchanged for products and services on FITBLOX’s e-commerce digital marketplace.
FITBLOX will hold daily, weekly, monthly and quarterly contests. Users will be rewarded with FBX Tokens for participating in contests, community building and achieving goals.
The FITBLOX DApp / E-Commerce platform functionality enables users’ access to daily content and promotions. The FBX Token is designed to efficiently facilitate disparate commercial transactions within FITBLOX’s strategic partner ecosystem.
The FITBLOX DApp leverages blockchain technology to enable transactions such as forming a running club, participating in a 5k, visiting a gym or trying a spin class to
occur in a fast, simple and risk-free manner.
The FITBLOX ecosystem will enable a dynamic in which individuals can leverage the reach and influence of the FITBLOX user community and gain access to verified distribution channels of FITBLOX certified vendors.
User Rewards Paradigm
FITBLOX will incorporate a Delegated Proof of Stake (DPOS) model native to the EOSIO blockchain. FITBLOX leverages “stake-weighted voting” as the foundation for our tiered user advancement paradigm that will incentivize FITBLOX users to grow and advance on the platform.
There will be higher rewards, tiers, and incentives to attain for users, which will entitle them to higher discount levels for goods and services via FITBLOX strategic partnerships and exclusive access to co-branded events. At each tier there will be higher rewards growth opportunities. FITBLOX provides an incentive-based motivation model for users to “Level Up” or attain higher levels of rewards tiers as community builders, influencers, and ambassadors
There are over 32 fitness apps in the market, but none utilizing blockchain technology. FITBLOX is the first real health and fitness related DApp that combines the benefits of blockchain technology with traditional app functionality.
Utilizing the EOSIO blockchain back end platform, the FITBLOX DApp drastically reduces transaction costs and times for the end user.
Unlike traditional fitness apps that store users’ data on 3rd party centralized servers,
FITBLOX disintermediates the numerous middlemen required to execute a transaction. In subsequent versions, FITBLOX will implement artificial intelligence as a predictive capability to make customized and calibrated suggestions, enhancing overall experience for the individual user.
Goods, Services, and Potential
End users can connect with online personal trainers through the FITBLOX DApp to purchase customized training programs. Weekly checkpoints with the trainer will occur online, where the trainer will carefully study progress photos and then make adjustments to the training program. End users will earn rewards from the FITBLOX DApp for achieving their fitness goals.
They can also connect with diet coaches to purchase closely tailored meal plans. Weekly checkpoints will occur online, and adjustments to the diet will be made accordingly. Again, end users earn rewards for achieving their fitness goals.
Users can connect with purveyors of supplements, vitamins, nutritional products and meals for delivery. Equipment: End users acquire desired fitness equipment, such as state of the art resistance bands, foam rollers, abdominal toners and glute developers. They can also connect with top brands in fitness apparel to purchase fashionable fitness wear.
Users can follow the specific, detailed workout routines and diets of their favorite professional athletes and fitness celebrities.
Purchases will occur through the FITBLOX DApp, which enables procurement of goods and services as well as access to premium promotional content. If an end user prefers to use fiat, FITBLOX will support credit/debit cards for purchases. Additionally, FITBLOX intends to integrate a cryptocurrency payment processing gateway to encourage the usage of leading cryptocurrencies for procurement.
Steemit Rewards Multiplier
Additionally, FITBLOX plans on integrating with Steemit’s already existing user monetized social media rewards platform. FITBLOX users will be provided the optional capability of sharing FITBLOX DApp posts directly on to the Steemit platform, under their established Steemit account name, with click of a button content sharing functionality. Steemit incorporates a similar DPOS rewards-based system in which end users earn both Steem and Steem Dollars (SBD) for upvotes on content curation. FITBLOX DApp users will be enabled to share the same curated content they produced on the FITBLOX DApp across multiple user monetized social media platforms like Steemit, effectively multiplying their potential rewards earnings for content curation.