FAT Coin Launching ICO for World's First Blockchain Based mHealth Fitness 'Human Mining' Application
Toronto, Canada, August 18, 2017 (Newswire.com) - As global obesity continues to cause health problems across more and more nations, there have been a slew of mobile applications, and accessories that attempted to address this problem. However, the rise and fall of giants such as Fitbit, and even the tremulous market traction by the Apple Watch have indicated that these solutions may not solve the complete problem at hand.
In stark contrast, we have seen the stratospheric rise in the cryptocurrency landscape, as more traditional investors and consumers alike start to adopt the various tokens such as Bitcoin and Ethereum. With the overall crypto market capitalization reaching record heights over the past week, the fears and doubts over Bitcoin’s forking seem to have been washed away in a flood of new capital.
A newcomer to the scene, FAT Coin has emerged as the latest technology startup to adopt the ICO (Initial Coin Offering) style of funding. Which as of this month, is now exceeding traditional venture capital in dollars raised. FAT’s novel approach to helping alleviate and reverse the global obesity epidemic focuses on research in the field of what’s known as self-determination theory. Through providing an incentive, also known as extrinsic motivation, in the form of FAT tokens, they are attempting to create the world’s first blockchain based fitness application with a unique rewards structure.
Users who adopt the FAT mobile application are able to track their workout sessions in real time, utilizing the mobile device’s sensors and GPS, and with the app’s Ethereum smart contract based architecture, earn token rewards in return for their hard effort.
FAT Coin has coined the term ‘Human Mining.’ Some may have heard of the process of mining cryptocurrencies, such in the case of Bitcoin, as well as Ethereum itself, a process that has sent GPU manufacturers such as NVIDIA and AMD into new record profits due to the high demand of effective mining hardware. In the case of FAT Coin, the user’s actions in generating rewards are treated the same way.
Through extrinsic motivation, FAT Coin hopes it will incentivise users to build healthy and sustainable long-term exercise and lifestyle habits — one of the biggest problems in the current mHealth mobile application and device landscape. As studies have shown that 62 percent of consumers that download and install an mHealth mobile application stop using it in a minimum of two weeks, and at its maximum six months after use in their daily lives. Their goal is converting the initial financial reward of its application, into long term intrinsic motivation within the mindset of users.
FAT Coin’s ICO will begin accepting Ethereum deposits on Friday, Aug. 18, and will close on Sept. 18. FAT Coin says that 1 Ethereum token is equal to approximately 4,400 FAT tokens. They also say that FAT will open for trading on several global exchanges on the days following the ICO close. Their beta application is expected to debut sometime in mid-2018.
To contribute to the FAT Coin ICO, visit their website at www.fatcoin.club.
FAT Coin is a technology company developing a blockchain-based mHealth application that encourages the well-being and physical health of its users through a token-based rewards system built on the Ethereum platform.
If you would like more information, please email Edwin Kaung at kaung.e@fatcoin.club.
Source: FATcoin.club
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