Gymcoin is a Decentralized Fitness Ecosystem Powered by Blockchain

Gymcoin is a Decentralized Fitness Ecosystem Powered by Blockchain

New York-based startup GymCoin wants to revolutionise the fitness industry with their new peer-to-peer, decentralised digital currency. The platform allows gym users to pay gyms, personal trainers and other fitness-related businesses directly through their phones.

GymCoin uses smart contracts that let users sign in to their partnered gym and earn GymCoins (GYM) during their session to pay for their time. Progress can be tracked within their app using scales installed in each of the partner gyms. The company also uses artificial intelligence to learn users’ interests and preferences. This information is temporarily accessible to gyms users sign into so that personalised trainers can be assigned to them.

The new cryptocurrency claims to be eliminating the problem of gym-users that travel frequently and simplifying the payment process for fitness providers by reducing transaction times and fees associated with credit card payments. Payments are made via the GymCoin mobile wallet available on both iOS and Android.

GymCoin is partnered with international gym chain, Gold’s Gym, UK-based Gymbox, and McFIT, which serves locations across Europe. This currently amounts to access to over 20,000 gyms worldwide. They are also in talks with PureGym, based in the UK, international Virgin Active, and Fitness First, the largest privately owned health club group in the world.

The initial coin offering (ICO) is set to begin on 11th February and end on 6th March with a token sale cap of 100,000,000 GYM.

Gymcoin Roadmap

Gymcoin is a Decentralized Fitness Ecosystem Powered by Blockchain
Rate this post

Trump Signs Executive Order Banning Petro Dealings

President Donald Trump has signed an executive order banning US Citizens from dealing with Petro, the digital currency being fronted by the Venezuelan government. Despite the typo in the original…

0 Comments

Azerbaijan: Cryptocurrencies Subject to Taxation

Azerbaijan has become the latest country to tax cryptocurrency gains. According to Nijat Imanov, an official from the Taxes Ministry in charge of tax policy, revenue from cryptocurrencies are subject…

0 Comments

Leave a Reply

Be the First to Comment!

avatar
  Subscribe  
Notify of
Fear of Missing Out?
To keep up to date with news, offers and tips, please let us know that you would like to receive email updates from us by entering your email address and clicking to subscribe. How do we use you information?

SUBSCRIBE 
close-link
close-link