A unique concept by Boltt has caught our attention. Imagine being rewarded for improving your personal health. Sounds too good to be true right? Well, Boltt has come up with a way to reward users who stay active and follow a healthier lifestyle, solving one of the biggest problems in personal health, lack of motivation for personal health improvement.
Let’s Talk Health-focused Digital Currency That Is Connected to Wearable Tech
We first got familiar with Boltt back in 2016. As the second largest wearable tech player based in India, we wrote about their efforts to decode fitness through machine Learning & Artificial Intelligence. Now the startup has created a blockchain coin/token-based “ecosystem” for users to earn and spend coins primarily for fitness-related goods and services. Two years of development the health-focused digital currency works with a wearable tech device and is capable of measuring user activity through BolttCoin’s eponymous app. All transactions are facilitated through cutting-edge, dual blockchain technology, which simultaneously utilises both the Ethereum and Waves blockchains. This allows for anyone who completes their daily fitness goals to secure Boltt Coins.
The unique blockchain-based, gamified fitness platform enables players to earn Boltt Coins while meeting their personal health goals. By using the blockchain to monetise health data, users using the BolttCoin app get to enjoy great rewards like exclusive access to goods, services, games and entertainment provided by Boltt’s thriving ecosystem of partners and participants. I must say this revenue model sounds quite similar to LOOMIA’s groundbreaking blockchain technology that was recently adopted by traditional brand L.L.Bean.
“Expecting to attract more users than Bitcoin, Ethereum and Fitbit, BolttCoin has so far acquired a projected 25 million user base in just under two years.”
Taking on multi-billion dollar market opportunity by gearing towards a decentralised Health, Retail, & Financial Ecosystem Boltt’s project has the potential to challenge the long-standing reign of crypto and health tech giants, both regarding user volume and smart-health technology sales. Expecting to attract more users than Bitcoin, Ethereum and Fitbit, BolttCoin announced in their press release that so far they have acquired a projected 25 million user base in just under two years.
The concept, developed by six rather accomplished founders made up of 5 men and one woman, BolttCoin has plans to assert its position as a leader in the cryptocurrency market. “To put BolttCoin’s potential into perspective, it’s estimated that a combined 1 million transactions using Bitcoin and Ethereum take place each day; seeing as each daily step count equals one transaction, BolttCoin can easily surpass these numbers with a growing list of individuals who already use Boltt’s fitness tracking technology”, stated their press release.
Arnav Kishore, one of the Boltt Co-Founders and CEO explained, “There are presently only about 3-6 Million active crypto users worldwide. With the mass adoption of BolttCoin, every living person can come to experience blockchain and crypto technology and earn cryptocurrency just by walking. The crypto community will increase multifold, and BolttCoin’s user base alone can exceed the current number of crypto users.” With plans to scale to more than 100 countries, the India-based tech startup venture is now looking for regional partners who would like to take on Boltt’s brand license for their respective geographies.