Fitchain | KPMG | NL
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Fitchain

Fitchain

Utilizing blockchain technology, we have linked a fitness activity tracker directly to a blockchain wallet. This enables us to reward employees for their activity by awarding virtual coins for exercise. Blockchain enables a privacy compliant system as the identity of an individual on the Fitchain blockchain is anonymous.

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Senior consultant

KPMG in the Netherlands

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Fitchain

The connection between health and job performance is widely known, and many companies are now realizing success can only be achieved by a healthy workforce. The integration of healthy living initiatives benefits both employers and employees.

A healthy workforce results in reduced downtime due to illness, improved morale, increased productivity and higher employee retention, while employees get the benefit of increased job satisfaction and an improved ability to handle stress. Plus, getting a workout while getting some work done, sounds good too. See also the results from our pilot in the image below.

Figure 1 KPMG Pilot Fitchain

Fitchain is originally designed as an employee benefits program stimulating healthy behavior. The essence of Fitchain is that an employee’s Fitbit activity tracker is linked to an incentive scheme on a blockchain. Based on data from the Fitbit a digital coin is awarded for every 5,000 steps walked. The employee can exchange the digital coins for rewards in the market place.

The proces of using Fitchain

Step 1: Sign-up
Employees sign up by connecting their existing Fitbit account to the Fitchain app. Fitchain is available as an iOS or Android app and as a website.

The Fitchain app creates a wallet in which the digital coins will be stored. The Fitbit identifier of the user is hashed thus preserving the privacy of the user.

Step 2: Tracking activities
The activities of the user are recorded as a steps on their Fitbit. When logging in Fitchain retrieves all activities since the last logon. For every 5,000 steps the user is awarded a digital coin. The number of coins earned per day can be capped.

Step 3: Redeeming rewards
The user exchanges his / her digital coins for rewards in the market place. The Fitchain app generates a QR-code which allows for the redemption of the gift.
 

Figure 2 Fitchain screenshots

The benefits

  • Users are rewarded for the activity tracked on their Fitbit and thus save for a reward of their liking;
  • Fitchain enables a system with adequate privacy safeguards, while still being able to reward employees for healthy behavior;
  • Fitchain is a first small step to let employees experience the power and possibilities of blockchain technology.
     

Additionally

  • Blockchain technology enables linking a smart sensor directly to a blockchain wallet;
  • Blockchain offers a single platform on which multiple parties could be enrolled;
  • External suppliers can connect to the market place to offer rewards.
     

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