Proof of Sensing is a new way to mine crypto currency, and there’s a new health-monitoring, crypto-mining watch that uses this technology. Proof of Sensing means that you mine cryptocurrency based on how much you use a certain product and/or service… In this case a watch. While we’ve used many different health monitoring devices, from simple wrist bands to many different brands of watches, this is the first health-monitoring watch we’ve ever seen that also mines crypto currency. So, how does that work, exactly? Well, we’ve done the research to get the background and purchased a couple of these to see how they really work… And if they’re really all they claim to be. Here’s what we found:
The Concept Behind the Crypto Mining Watch
The concept behind the crypto mining watch is brilliant. Next level brilliant. We’re talking Steve Jobs, Mark Zuckerberg, Albert Einstein, Leonardo da Vinci brilliant. The concept is similar to Social Media Platforms, but without the loss of privacy… And without the feeling of Big Brother watching over you constantly… Stockpiling all your private data for use by who knows who, and for who knows what. Plus, it pays everyone who uses the watch, not just the founders of the company. Get yours here!
How Social Media Platforms Work
See social media platforms, like Facebook, allow you to use their platforms for ‘free’… As in you don’t pay money to use the service. But those services have made their founders super rich. Just look at the net worth of social media company founders. How do they make so much money on a ‘free’ service? They collect your private data… Age, likeness, interests, purchases, where you live, places you frequent, where you are right now, spending habits, etc. They store all that data on their servers… Then sell it (or at least sell access to it) to companies to provide targeted marketing for their products and services to you.
So, you use these services ‘for free,’ but at a cost: They constantly watch and analyze you. Not to mention they store your data on private servers… To which you, yourself, have no access or control… But which can be hacked and leaked. And you don’t benefit financially from the sale of your private data… Only the media companies benefit financially.
This Crypto Mining Watch was born from a similar concept, only better. Much, MUCH better. Not only does your data benefit your own health, but also the health of the entire world’s population. But most importantly, your data is anonymized… So, you retain complete privacy. AND it pays YOU for your data. In other words, it pays you to get and stay healthy.
How Other Health-Monitoring Watches Work
Other health-monitoring watches (think Apple and Fit Bit) also collect your data… And store it on databases. (See our article, What is Cryptocurrency?, for more info on database vs. blockchain data security.) Those companies own your data. It’s in their 50-page-long (maybe a slight exaggeration) user agreements. If you don’t believe me, take the time to actually read those impossibly long user agreements. They own your data. AND they sell your data for a profit… To marketers, who make even more money off of you via the products they’ve targeted for you, based on your data. OR they can sell it to businesses, like insurance companies… with your name attached to the data… And they can use that data to approve or deny you services. It’s a win-win situation for the watchmakers… And a lucrative deal for the marketers and other companies who buy your data… Not so much for you… Nor for humanity as a whole.
How This Health-Monitoring, Crypto-Mining Watch Works
What It Monitors
First, the health-monitoring functionality of this device is more thorough and more advanced than any other device on the market. It uses multiple non-invasive, medical-grade sensors to collect 18 different measurements. Of course, it offers all the standard features that all the best health-monitoring watches offer… Such as calorie, step and swim-stroke counting, multi-activity tracking, heartrate, and sleep analysis. Additionally, this watch offers continuous monitoring of key health factors such as body temperature, heart rate, Blood Pressure, SpO2, and many other health and fitness parameters. And the highly advanced, patent-pending sensors enable medical-grade measurements with improved data accuracy for Blood Oxygen measurements, Vascular aging, ECGs/EKGs. And with the Bio Impedance Sensor (BIA), it analyzes your body composition.
It even monitors air quality, has a fall detection feature, and will send you alerts when your body temperature is outside of your usual range. The capabilities are mind-blowing. (I’ve ordered watches for my teens and my elderly mother.)
Analysis, Storage, and Use
Second, your data is analyzed and displayed in graphic form on your watch, while a full report is available on the app. You can use this historical data in the app for your own analysis and/or share it with your doctor. Any doctor will tell you that the measurements they take in office are helpful but limited in their ability to assess your overall health, as they are measurements of a single point in time. But having the ability to analyze all that same data collected continuously over a period of time is far more helpful in assessing your overall health.
Then, your data is anonymized (no storage of anything that can link data back to you, personally) and stored on the Web3 blockchain. (For a better understanding of what a blockchain is, read the section about Blockchain on our Cryptocurrency info page, here.) That means no privacy invasion and no private servers to be hacked… and no private individual data (like names, addresses, SSNs) stored, shared, or sold. From there, and at various points in time, anonymized data from all users is hashed (broken into chunks) and sold to doctors, hospitals, pharmaceutical companies, and other medical research institutions. They, in turn, use this data to create better understanding, better medicines, better procedures, etc. for the entire world’s population. And because all your data is anonymized and combined with lots of other anonymized data, your privacy is protected. If you’re ready to take your health into your own hands, get one of these watches, right here!
How This Crypto-Mining Watch Pays YOU
Now, here is the beauty and brilliance of having this entire health-monitoring eco-system on the blockchain and tied to cryptocurrency. You earn cryptocurrency just for wearing and using your watch. You are effectively mining cryptocurrency with your heartbeat. (For a more in-depth explanation of Crypto Mining, see our blog article, here.) The value of that cryptocurrency is based on the value of the data sold to doctors, hospitals, etc. The more money made from the sale of that data, the higher the value of the cryptocurrency. And the more you use your watch, the more cryptocurrency you earn. READ THAT AGAIN!
You actually get paid to monitor your own health. You provide invaluable data to doctors, hospitals, and researchers for the benefit of all mankind. AND your privacy is protected. It’s a Win-Win-Win situation for you! This is brilliant! Next level brilliant! If you’re ready to get paid just for monitoring your health, go here to get your watch.
Tap to Pay
So far, we haven’t even touched on one of the most convenient features of this watch. So let me correct that right now. When shopping with any retailer with the wifi pay symbol, you can use this watch’s Tap to Pay feature. That’s right. You don’t need your wallet or credit card or cash. Just tap your watch and pay. You can even pay with your earned cryptocurrency. How cool is that?
Want one?
This watch is finally available to the general public! Go here to view all the versions and products available. Live your best life and get paid to be healthy!
My personal experience with the Crypto Mining Watch
I’ve been a beta tester of this product for just over a year now. I started out with the watch, and recently switched over to the band. I prefer the band, but that’s just a personal preference. Both work equally well. As I expect with new products that I beta test, there were some challenges with the mining process and awarding of coins at first, and based on feedback, the company decided to create a new platform for the mining on Web 3.0. The new platform has been mining for about a month now, and I’ve experienced ZERO issues this time around.
As I mentioned above, I switched from the watch to the band very recently, and after just 2 days of wearing it, I’ve already earned 335 tokens… Doing nothing more than going about my daily life with the band on my wrist. Public trading of these tokens won’t be live until later this year, so it’s hard to say what each token will be worth when they go live. But I’ll have a BIG jump start on the cash rewards when the tokens are presented to the public.
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