No SweatCoin is not going to kill Bitcoin, if anything it will help bring attention to the cryptocurrency space. But Sweatcoin has managed to do something that Bitcoin or any other alt-coin for that matter has not been able to do; convince my mother and open her eyes to the possibilities. She grasped the concept downloaded the app and was off and moving within 10 minutes, what a break through.
A quick note. I am not a writer. I am a thinker. I have always found it difficult to put to words the millions of thoughts constantly running through my head, so I will do my best to write coherent articles, but please be gentle.
It was a but more than a year ago when I had began to see substantial growth in my crypto investments when I decided to share what I had been doing with my mother. My mother a immigrant from Nicaragua who fled during the 1980's civil war moved to Rochester, New York and has literally created the American dream through heard work, sacrifice and discipline that only some one who grew up in a developing country during a war could understand. She's managed alongside my father to pay off a house in New York buy another back in her home country , retire and travel the world now when she feels like it, all on a 5th grade educational level. She has been successful in all the ways in which we are taught traditionally to live our lives, save, save, save. She avoided credit cards like the plague and when she did use them bills where always paid on time, 30 years of paying anything she borrowed has lead to a credit score which she wears proudly. So when I came in, the son who has been a risk taker and moderately reckless with his money talking about this abstract digital currency and overall block-chain concept, I knew I would be up against it but as a true believer I figured if I could convince her I could convince anyone, Bitcoin and block-chain technology is the future.
I remember talking for about 30 minutes and she was following along with interest but the inevitable question came…"So your money is not insured?". I was done. I knew that I could not win this battle anymore. As strong and financially sound as my mother is the concept of complete control of her assets with no one to call if something happens, was too scary for her. I should have seen that one coming knowing her but I still believed she would love the aspects of freeing herself from the banks and their fees, the promise of joining a community with a goal of banking the unbanked.
So I was not able to reach her, even when my investments peaked around 250K before the now infamous 2018 crypto bear market, she was unwilling to even put $1,000 into the market (looking back I'm glad she did not at that exact moment) an amount of money she could easily afford and could "risk".
Fast forward to now where I am researching projects on a daily basis finding gems or even better companies with an actual product out there which can help bridge the gap between abstract digital money/contracts and actual applications which the average user can use and not even have to think about the complexity behind what makes the technology works. I want to send an email but I sure would have not been interested in it during the early stages of it's development.
So I come across "SweatCoin", which due to the name I had on the side as an app I would check out after testing and reviewing others like , KIN, PIVOT & EXPERTY to name a few. At first glance I loved it. It is a beautiful app which is simple yet beautiful. The point of the app is clear and easy to get "get paid to walk" and that is exactly what it does. setting up took 5 minutes of inserting email and phone number and done! The UI shows the steps you are taking in real time by tracking the user through GPS meaning even when you are away from wifi or don't have cellular data (a luxury millions around the world cant afford) the app tracks your movement. I was hooked. So it was time to see what this company was all about and if this was the real deal.
Sweatcoin's CEO and Co-Founder is Oleg Fomenko, who is based out of London. He also at the same time is CEO of mflow.com Sweatcoin was created to get people moving and reward them in digital coins for their efforts which they can use to pay for products from outside parties whom have partnered with them . Currently at the time of writing some of the products on offer are, vacation packages, Iphone XS, $1,000 cash back , and a 50 inch LED TV. These are some of the bigger offers, others are small and can be obtained from 1 or 2 days of walking like an audio-book subscription through Scribd as well as yoga. The products will change but in what time frames I amnot sure yet and I will cover it when I have months using the app.
Currently, walking 1,000 steps, which you do faster than you may realize is equivalent to about 0.90 Sweatcoins. On my first day I caught myself instead of sitting, deciding to walk or stand when doing simple tasks, or like now getting up every 10 minute to get my blood flowing but actually to get more coins. That day I earned 11.3 coins from a more or less average day of activity, I can't imagine what I would reach on a busy day. So you must be asking what are the prices of some of the TOP TIER rewards, well the IphoneXS costs 20,000 sweat coins. Definitely something you will find yourself working for in the long-term but the audio-book subscription? about 6 Sweatcoins.
There are also different levels of membership which you can join and then pay for at the end of the month from your own Sweatcoins. The membership levels represent the amount of steps you feel represents your daily use.
You start at "Mover" where you can earn up to 5 Sweatcoins per day (24 hour period) and 150 Sweatcoins per month, this membership is free. (they all actually are since you will be ultimately paying the fees for higher memberships by walking.
Shaker: 10 Sweatcoins per day, 300 per month Cost: 4.75 SC (Sweatcoins)
Quaker: 15 SC per day , 450 SC per month Cost: 20 SC
Breaker: 20 SC per day , 600 per month, Cost : 30 SC
Trouble Maker: Coming soon…
So this is when I got excited. I realized my mother being the fitness type who would jog/walk for over 20 years religiously every single day, would be the perfect user for this application. I drove to her house with just this in mind, get it on her phone and let her see it in action. I knew talking it through might get some hesitance again so this time I simply asked her for her phone under the guise of helping her with something (which technically I was) I put in the pertinent information and gave it back to her and said start walking. She did. Then came the, "What are these numbers?". Those are the amount of steps you take mom and with every step you are earning digital currency that you can exchange for things you love, like traveling and apple products. The look on her eyes was of amazement. I let her know she did not need to do anything other then just open the app when she wakes up and keep it on her throughout her day and be paid to do what she already does. This ultimately lead to the conversation of how is is possible that you can be paid and the company gets nothing back. Well I got to explain to her a piece of block-chain tech which now rightly has begun to create code in which our data which was always collected before and big corps would profit solely from, now has allowed for the individual to profit from their own data. But what kind of data, well simple data like how active people are, how many steps people are taking, how does that correlate to longevity, health and aging. There are endless possibilities on monetizing this type of data…mom. She got it, it clicked. I decided to not jump in deeper and let the app speak for itself in the coming months before I try to jump back into bitcoin and the deeper vision.
SweatCoin was able to do what Bitcoin could not. Sweatcoin will do this all over the world (I am currently studying in Nicaragua and it works a charm) as people are introduced to working block-chain tech which will inspire them to find out more about it and which will lead into the inevitable internet search wormhole which we all at some point went on when being intrigued by something and needing to know more, for me personally it was Wechat and it's ability to send money through text messages instantly at no fee while I was working in China.
I see a bright future for Sweatcoin and I will follow up with this article after a few months to see if I can really exchange my coins for real products or services, something that I have no doubts will happen.
If you are curious as want to try it out here is my referral link, I would appreciate it very much as I am still trying to figure out my exact path in this life and the money is always a hand up not a hand down. Thanks for taking the time to read this and feel free to reach out to me.
Douglas
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