Blockchain and Sports - does that fit together?

[LuBro]

To start this I'm really interested in the project Lympo and have been doing a lot of researches yet. In a nutshell Lympo intends to revolutionise the healthy lifestyle ecosystem by monetising and incentivising wellness data which is collected via blockchain. The usage of mobile health (mHealth) apps and wearables is ever-growing. More than 52% of smart phone users gather health-related information on their phone. In 2016 alone, mHealth app store downloads totalled 3.2 billion. Health-related data is a precious asset for both individuals and stakeholders in the data-driven sports, health and wellness industry. So it will definitely have a great use-case actually from now on. Powered by user-generated and user-controlled fitness and wellness data, Lympo will allow the exchange of value through the introduction LYM utility tokens. Lympo’s goal is an ecosystem where data is used efficiently by all industry stakeholders and everyone is rewarded fairly.
It will contain overall three sectors:

• 1. the Lympo fitness wallet,
• 2. a marketplace and
• 3. the Lympo crowdfunding platform

The Lympo app combinded with the ecosystem will be a great place to host crowdfunding initiatives. One reason is because of it's truly ambitious way to attract people with many different sportsmen. Furthermore it will attract people and businesses truly enthusiastic about healthy and active lifestyle. Also the use of wearable fitness trackers data can be utilized and reused for later purposes. Paired with the growth of the global wearables industry, the Lympo ecosystem will enable users to provide individualized, verified, self-generated data and receive LYM tokens in return. The user will then be able to spend it on various goods as well as services in the Lympo marketplace, which will eventually encompass a network of health, wellness, and sports services and goods.


The reason why I started this topic is or the to get on, the question is now - are people who work out really the same people that could use blockchain? I can really bet blockchain is of interest to coders, not sportsmen mainly. I'm one of the guys who're just really interested in the whole world of cryptocurrency and doing a lot therefore to inform myself, but doing aside a lot of sports such as body workouts, like Freeletics or Madbarz and taking part in obstacle race courses. So I'm curious what do you think about it, to combine fintness and sports on the blockchain. Lympo also has lastly some huge partners, recent joining is one great Tennis player. As of today, Lympo’s official partner is Caroline Wozniacki world’s top tennis player with millions of sports fans and followers!

Lympo Medium
Lympo Website
Lympo Summary

[Tweetoint]

I would say everything fits blockchain, but not blockchain v1 or even v2. We will need Blockchain vN and we would be able to get every single data byte on there and access it instantly. It should really help in various spheres, including sports. Just imagine storing doping samples data to verify it is legit, storing health-related data there (we need nanorobots in our system who would daily update our logs), just simple data from running, or paying a hoop, football - everything will be on BC. Just a matter of time.

Lympo you say? I have looked into it but it seems they are in pretty early stages so cannot comment on that. We need to see actual app to know if it works. In theory everything seems to be ok, but in practice i am not sure about it. I need to see detailed info on how scams will be prevented, to see what LYM would be worth and what use it will have. We shall see. We shall see.

Oh BTW, great article on their announcement.

https://www.financemagnates.com/cryptocurrency/news/tennis-star-endorses-lympo-new-era-celebrity-blockchain-endorsements/

[potcoindude]

I am usually too lazy to exercise in gyms, doubt would start doing that to get few tokens. Unless they start giving out tokens for playing football outside or basketball indoors - I am not really interested. And not like play 2hrs get 1 LYM; it should add up so that I could pay my entrance fees (or part of it) at the end of the month. That would be nice. But I do not see myself jogging or doing pushups or whatever. Not me 

[LuBro]

To get on to all of this it's really important for projects to get every aspects clear and lucent/transparent. Building up an ecosystem where you can improve your Apps, dApps and systems is momentous and it is in any case an important factor to continue to exist. Therefore to mention this really good one - Lympo - is just trying to achieve it. The Lympo app will motivate people for staying active and being healthy. They reward the users with challenges and healthy lifestyles. So it will connect a lot of users and trainers all around the world building u a huge network of partners. Furthermore Tennis superstar Caroline Wozniacki, who won the Australian Open this year, will promote Lympo to her fans, followers and the wider sports community, explaining the app benefits. So the progress of this project is tremendous and it never cease to amaze me.

I think it will cover a huge range of different sports.. Let's see. But they got definitely some work ahead, to get on to this whole data aspect. It should be clear and clarified how the data will be used and backed as well as the security aspect. Furthermore I think the government will also want to have a say in this..

[kcgk]

As an outsider, how do fans participate in the game? As far as sports events are concerned, quiz must be the strongest item, not one. Statistics show that one-third of people who like sports have actually participated in competition predictions and quizzes, and the proportion is very high.

However, quiz easily involves legal compliance issues. If a platform provides quiz service for profit, it is defined as crowd gambling, resulting in almost no quiz platform on the market for providing entertainment.

Blockchain just can solve this problem, the core lies in tokens. The platform does not need to collect any pumping water. It only needs to attract more people to join in, to establish a brand and to increase the circulation of currency. Then the market value of tokens will increase, and such a business model will work.

Moreover, the smart contract can be set on the blockchain platform, and good rules can be established. When the user plays, the upper limit of the amount can be set, for example, the player can only cast a maximum of 500 at a time, and the entertainment application is characterized as a small amount of high frequency and has strong sociality. There will be no negative social impact. It is helpful for the broad participation of the C-side.

The specific operation mode is: If there is a match between player A and player B, suppose there are 30 participants who all want to predict the outcome of the match, and one of them predicts that the market setter paid a certain amount of coins in the forecast market of POWERFANS. A forecast market was opened. In order to make predictions, participants need to pay tokens to participate in the forecast. Among them, 20 participants predict that Athlete A will win, while 10 participants predict that Athlete B will win. Before the start of the game, the forecast market will be automatically locked and output a probability - the forecast result. As in the above example, the probability of a realistic prediction market gives a probability of 66%. Athlete A can defeat player B, and the resulting forecast can be used by the public and statisticians for statistical analysis. When the game is over, the forecasted market is immediately shut down. After the predictive machine enters the correct match result data, the POWERFANS platform will automatically distribute the award.