Brainstem Digital Health, a decentralised platform that collects health data from wearable devices, has joined peaq, the Web3 network powering the Economy of Things, to further the cause of decentralised health data sharing.
Leveraging Web3 to improve fitness and health monitoring
By 2032, the global market for fitness trackers is projected to be worth $187.2 billion. While the information these gadgets collect is invaluable as AI revolutionises healthcare, the system’s digital underpinnings aren’t perfect. To further decentralise this data collecting and community reward system, Brainstem has integrated with peaq.
Brainstem plans to use peaq as the underlying layer-1 network for its decentralised application, connecting it to the peaq testnet before equipping its devices with unique peaq identifiers and deploying to the peaq mainnet. Wearable gadgets from Brainstem will monitor and record vital signs, pulse oximetry readings, movement and more. In addition to earning tokens, users who consent to sharing their data will be assisting scientists worldwide in their pursuit of bettering human health.
“The AI revolution has a lot in store for health and wellness, but it needs quality and privacy-compliant data for that,” says Till Wendler, co-founder of peaq. “Brainstems solves this puzzle by leveraging the Web3 stack.
Brainstem’s DePIN approach crowdsources real-world hardware in exchange for token incentives, and the company is attempting to introduce Web3 data handling to the health and fitness tracker market. Additionally, the community will be able to make use of the data sharing and monetization features of peaq’s Gaia-X data marketplace instance. Peaq’s mechanism for redistribution of a portion of network fees among owners of connected devices will also provide additional benefits for Brainstem users.
The Brainstem DePIN will be linked to the EU-backed project Gaia-X, which unites leading businesses, research institutes, and Web3 companies. Peaq is helping to develop tomorrow’s linked mobility standards and infrastructure as part of moveID, a Bosch-led initiative under the Gaia-X 4 Future Mobility family.