The current ICO market has witnessed a crop of fitness ICOs emerge targeting various use cases ranging from fitness trackers to targeted advertising based on fitness data-points stored on the Blockchain. The application of Blockchain technology within this niche field enables having an immutable record of one’s health and fitness data that could prove to be immensely valuable in the hands of a self-sustaining, secure ecosystem of users and fitness providers. We at BEAT strive to ensure that we differentiate ourselves from our competition by incorporating truly valuable use-cases that maximizes the potential of the inputted fitness and health data of our consumers and providers.

So what exactly sets BEAT apart from the competitors?

Safety of Data through Trusted Third Parties

We at BEAT take data quality, protection and privacy very seriously and incorporate ‘Trusted Third Parties’ within our network of stakeholders to safeguard and assure its quality, accuracy and validity. The BEAT platform would utilize the NoExcuse app by MySports GmbH for instance as this trusted third party provider, which is essentially is a legal entity that would provide a framework to record and authenticate the fitness and health data reliably. This is a feature unique to BEAT because of the positioning of MySports as a vital part of the Loyalty Group, which is the overarching organization behind BEAT, thus enabling the effective connection between the three important stakeholders i.e the data providers, the data consumers, and the mentioned trusted third parties. This is a great way of ensuring that all the collected data-points are authentic, and can be securely stored and used for various BEAT use cases like Employee Health Benefits and Data Research without any privacy breach.

BEAT Ecosystem map

Multifaceted Sponsorship Use-Cases

The establishment of an existing BEAT ecosystem makes it quite easy to implement a multifaceted sponsorship of Sports and Talent within the Platform. Such a sponsorship integration is not explicitly stated within the framework of our direct and indirect competitors and would be quite efficient to apply in multiple possible ways. Sponsors could create specific challenges that could be securely verified and delegated within the BEAT Blockchain, be contractually settled either using BEAT Tokens or outside BEAT’s ecosystem, and be defined entirely based on their personalized terms of usage. We envision this expanding to various other Sponsorship use-cases such as targeted advertising, health insurance and medical research and thus, outcompete our competitors who are fragmented by their functionalities.

Well-established Existing Cloud Management Software

Unlike our competitors, BEAT started out with their well-funded business case and network of partners strategically embedded within the ecosystem of the Loyalty Group including Magicline GmbH, which has already been collecting data from equipment and the NoExcuse software across more than 3000 German gyms thereby generating millions of dollars in revenue. By uniting companies within the BEAT ecosystem that normally would not integrate together in a traditional business environment, BEAT’s existing cloud management software would create a reinforcing feedback loop incentivizing users to utilize the numerous benefits associated with the Loyalty Group partners while simultaneously contributing valuable fitness and health data-points that could be applied to other mentioned use cases. Characteristics of such a comprehensive cloud management software is constantly mentioned by our competitors but none of them have been able to fully implement a functioning ecosystem at our scale and effectiveness.

The combination of a passionate, well-experienced team and the subsidiary companies within BEAT’s Ecosystem

BEAT has the largest team among its competition with a total of 140 exceptional employees, 40 of them being seasoned developers. However, each employee is highly devoted to BEAT’s vision of fully utilizing the potential of the millions of data points collected from fitness and health and thus, it is not all about just the quantity of the employees but rather on the quality of each individual employee.

Some of the team members of BEAT

This also extends to the partnerships and the internal companies embedded within BEAT’s ecosystem which makes us well-poised to integrate future expansions of functionalities within our roadmap without increasing organizational complexity to a non-feasible extent. The Loyalty Group along with our subsidiary partner firms Magicline, Eurofit 24 and Bedarf.de all serve their own unique purposes within the ecosystem and thus provide a competitive advantage for the future expansion and international integration of BEAT starting from our home-base, Germany.