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There are over 165,000 health and wellness apps available through the Apple App Store today. According to experts at Rice University, formal government bodies such as the Food and Drug Administration (in both the United States as well as in the European Union) and the European Medicines Agency regulate only a fraction of those apps. Depending on how an app is classified by official bodies, the health-related data that an app collects may or may not be protected. The general public should be very concerned about how these apps collect, save, and share their personal health data.
With the rise of interactive apps and the growth of smartphone and wearable-device usage, we can expect the general public to play an increasingly important role in the health data generation and usage space. However, since this causes people's daily lives to become uncontrolled and unregulated experiments in health and wellness, we need better and more secure tools to ensure that this market grows and develops safely.
Challenges
Unfortunately, there are serious problems in the way traditional apps and services today handle and secure data produced by health devices and business applications. The recent hack of MyHeritage, which is a health company that collects DNA and genetic data of users, resulted in 92 million user accounts and private information being exposed by hackers. As long as platform applications and services such as Twitter and Facebook, and of course MyHeritage, continue to centralize data silos, they will always be open targets for hackers. Furthermore, they do not encourage user adoption because the value generated from user data accrues almost entirely to the service, not the user.
It is very clear, therefore, that while data collected through either wearable or tracking devices offer new opportunities to companies that want to gather information about human behavior outside lab-controlled conditions, they pose serious challenges as well. Furthermore, questions of privacy and security are especially important because the usage of such data relies heavily on participants' willingness to share their data. Sometimes, people may share data even when doing so is not in their own best interests.
Introducing DYNOSTICS
Overcoming these challenges and bringing about revolutionary change in the healthcare data and lifestyle space was the founding reason behind DYNOSTICS, which is the first mobile, smart, and affordable tech device for performance and metabolism analysis. This device is by far the most advanced sports and metabolism analytic device for sportspeople and athletes on the market, is truly revolutionary. More than ten times cost-efficient than comparable products and three times faster and easier to use, it is already in use in over 20 countries and the company has prestigious partnerships with the likes of FC Barcelona, Red Bull, The University of Leipzig, as well as The University of Beijing.
The device determines a user's current state of health and wellbeing in just a few minutes based on simple breath tests. Data that is collected is analyzed in real-time and the results are then sent to the user. The results include everything from pulse rate and fat burning efficiency to body acidity levels and dietary recommendations.
This data, which is delivered to the user almost instantaneously, can tell the user how to develop dietary and training regimens, how to exercise, how to achieve weight loss goals, and how to improve overall health - all without medically trained staff.
DYNO - Integrating DYNOSTICS with the Blockchain
Although the DYNOSTICS device on its own is a user-friendly, cost-effective, and a safe healthcare data and analytics device, the real magic that happens under the hood is with DYNO. DYNO is an integrated platform that leverages data collected by the DYNOSTICS device by using proprietary healthcare algorithms, native mobile apps, the DYNO token (which is used to transfer data and monetary value between users of the DYNO platform), and the DYNO token wallet (which is used to send, receive, and store DYNO tokens).
In this way, DYNOSTICS is more than just a device and provides more than just health analysis and lifestyle improvement services. By plugging data collected from the DYNOSTICS device into the larger DYNO ecosystem, this project will create the world's first open-source data fitness marketplace that unleashes the potential of user-driven performance and metabolic data in a safe, secure, and even monetizable fashion powered by blockchain infrastructure.
DYNO not only promises to improve the health of millions of athletes across the globe, but it promises to do so by collecting data in a decentralized, safe, fast, and cost-efficient manner, making it accessible to all devices on the market - not just DYNO wearables but third-party smartwatches and trackers that are tied into the ecosystem as well. This has the added benefit of doing away with centralization and helps to grow a bigger and more active user base.
Roadmap
Between 2015 and 2017, the company developed the DYNOSTICS analytical device. Dec 2017 saw the start of the product's concept and design and putting DYNO data into the Blockchain. Q2 of 2018 was when the DYNO ICO was launched, and in Q3 the beta release of the DYNO Marketplace and app integration will take place. In Q4 of this year, the testnet for beta partners such as insurance companies and researchers will be launched, and in Q1 2019 integration of additional tracking devices outside the DYNOSTICS ecosystem will take place. Finally, in Q2 2019, the DYNO marketplace and app integration will go live.
Team
Stefan Bartenschlager (CEO and Co-Founder), Friedrich Hergenreider (CSO and Co-Founder) and Peter Schweiger (CFO and Co-Founder) are serial entrepreneurs with more than 10 years of experience in founding, scaling, and selling companies within the fitness, lifestyle, and health-tech industries. With an acute focus on health and sports and successful business exits in the past, they invested $4 million of their own money into DYNOSTICS.
Alongside the three co-founders, the team features Manfred Günther as the Head of Sport Science. He is also a founder of several diagnostic centers in Germany and has been a health and fitness advisor for Formula 2 and 3 racing drivers.
Summary
DYNOSTICS is not just an idea but an existing company with a very useful product and growing sales. Their B2B revenue model promises a continuous cash flow, and their devices collect a unique set of health data that is of a lot of value for private individuals as well as research institutes and insurance companies. By integrating the data with blockchain, however, the company gives users ownership of their own data and even the possibility of monetizing it. This way they give back the power of personal health data to the users that produce it while creating a unique marketplace that gives access to this data to interested parties - but all in favor of the user.
To learn more about this exciting project, please visit https://dyno.io/
