With the rise of wearable technology and fitness trends these days, it’s no wonder that app developers are taking advantage of the bandwagon and created an app that can reward you in bitcoin payments for working out. Creators at this Austin-based company claim that this app can pay you based on the intensity of your workouts.
Users can simply create an account in their bitcoin repository, download the app, and sync the information to a fitness tracker. This app is available for iOS devices for now and makes use of information from heart rate trackers available with public access.
Earning Bitcoins in Fitness
In particular, Fitcoin works with wearables such as Mio heart rate monitor, Jawbone UP3, and new fitness tracker called Atlas. Syncing these devices to the Fitcoin app allows the app to monitor the length of your fitness activity and heart rate levels, which it then triangulates using an algorithm to determine how much energy you’re expending or the intensity of your workout.
From there, the app calculates how much this is worth in bitcoin payments. According to its creative director Ali Madad, the app offers an interesting platform play application and service layer. He added that he also sees this app as something that consumers would use everyday.
During the app demonstration, developer Grant Nicol tried the workout and raised his heart rate to 115 beats per minute. With roughly 3 minutes and 40 seconds into the workout, he was able to generate 5 cents in equivalent bitcoin payments.
Of course this amount is only from the stash of bitcoin that the company has amassed in order to test the app out. The team still has a few months to work on the concept but ultimately hopes that this could merge the rise in wearable technology and the growing popularity of bitcoin payments, eventually using these to support healthier lifestyles.