The sports, nutrition and health sector generates lots of data points on a daily basis. The mobile health industry has seen a surge of interest among the customers and other related businesses. Despite these encouraging facts, the sports health industry has been unable to tackle issues arising from the health data-privacy, which is vital to its users. In addition, current market players have been disenfranchised by their functionalities and do not have the resources to build a self-sustaining ecosystem that can accommodate such companies, its users, and their third-party stakeholders. There is an urgent need to connect the agents positioned within this weak ecosystem by using advanced technologies as a means of tackling issues relating to privacy, immutability, and accountability.
The invention of Blockchain technology promises to tackle these issues using BEAT ecosystem. The BEAT is a platform embedded with blockchain technology to safeguard your data and at the same allows you to share it with talent scouts, insurance firms, sports sponsors, and a host of others to exploit the hidden potentials. On the ecosystem, users are giving the chance to monetize their genuine health data generated at every time. Also, the ecosystem would allow organizations to purchase those generated data based on their needs with the application of the blockchain technology.
The BEAT ecosystem comprises of two users; the Data consumers and the Data Providers. Users are allowed to choose their favorite group. The Data providers are permitted to share specific data based on the agreement signed with the prospective Data consumers. In turn, the Data consumers will be allowed to gain access to the data based on the signed agreement. The Data Consumers will benefit greatly from the verified and uncompromised data. Also, the Data consumers – pharmaceutical companies, sport equipment manufacturers and gyms providers will likely offer their products and services for free to the data providers or sell it at a discounted rate.
In order to effectively verify, track and store the activity and health data of the user registered on the BEAT blockchain, this platform will need to utilize the “Trusted Third Parties” (TTP) such as the management software. A TTP is a concept used for the review and facilitation of all the forms of communication that occur between the Data Providers and Consumers for apps, physicians, smart watches, health and sports providers, and the likes. It is expected that these processes would be modified coupled with the incorporation of extensions to the systems already existing thereby enabling data owners (users), to keep their data securely in the BEAT Blockchain available in their domain.
In conclusion, the BEAT blockchain integrates the Data Consumers, Data Providers and Trusted Third Parties to create a bridge of trust. In addition, it helps users to manage their personal data and for onward transmission to organizations and other professionals.
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Author – Lanezer
Bitcointalk
