Working out is its own reward as you get fitter and healthier, but in case you wanted more rewards just for running at the gym or around the park, you might be interested in checking out an app called FitCoin. While its essence is basically a Bitcoin mining app, what makes it interesting is the fact that it relies on your fitness activity to mine for the cryptocurrency.
Developed by Chaotic Moon Studios, the FitCoin app will play nicely with fitness bands from the likes of Mio, Atlas, and the Jawbone UP3. As the fitness trackers gather data such as the wearer’s heart rate and the length of their activity, that data is then applied to an algorithm in the FitCoin app to determine how much computer processing time your device will spend mining for the currency.
The app was launched at SXSW and according to the company’s head, Ben Lamm, “This concept combines two of our specialties: looking good and making money.” One of the designers of the app demonstrated it by running on the treadmill for about 40 seconds after which his smartphone managed to mine five cents worth of Bitcoin in the process.
Now while we doubt that we will see millionaires made from using the FitCoin app combined with exercise, it’s an intriguing idea that not only takes the idea of Bitcoin mining, but integrates it with wearables like fitness bands. Perhaps we could see further integration with smartwatches in the future as well.