Athletic-Tech Company to Issue Its Own Cryptocurrency
Some of the world’s greatest athletes have used athletic-tech to improve performance. A worldwide leader in “athletic-tech” is Performance Labs. The company has cornered the market on sports AI, wearable devices, and data & analytics. Users claim they gain a significant edge by working with Performance Labs.
Based in New Zealand, Performance Labs revolutionized performance-study in 2013. It then released its ARDA Coaching engine. ARDA uses biometric data from wearable devices to provide real-time fitness consultation. Algorithms consider a host of factors that are “learned” by the wearable devices. ARDA, for instance, analyzes past performance, terrain, weather, speed, sleep patterns and fatigue patterns. The software interprets the raw data and relays advice and/or encouragement through headphones. As a basic example, the AI program may tell a runner that he is going too slow.
Performance Labs has already made its name and reputation as a tech leader in fitness. It will soon take its technology to the next level. To incentivize performance, the company will offer its own cryptocurrency. The plan will “motivate users to achieve exercise goals by rewarding them with digital tokens,” according to a Japan Times report. Tokens will be awarded to those athletes whose performance require special recognition.
Privacy is obviously a big concern. Performance Labs promises to protect users’ biometric data. Users, however, can elect to sell their data for additional tokens. The data is valuable to pharmaceutical companies, medical researchers and insurance companies.
The ICO is tentatively planned for this Fall. No date has been announced.
