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BolttCoin (BOLTT) ICO Review – ICO Token News


Overview

BolttCoin is to become the first ever, “digital health currency” connecting masses and many other stakeholders across current health, fitness, and wellness ecosystems. BolttCoins can be mined, not by computing power, but by simple steps and personal health achievements. The primary aim of this currency is to enhance engagement and social gamification within the end users. Health is a concern for everyone and there is an inherent appeal to the masses for the same. There are many potential use cases for corporations, retailers, insurers, brands, celebrities, etc. from the promotion of their products or services to improving the health of their employees/followers. On the other hand, users can spend BolttCoins to purchase goods and services on the Boltt ecosystem and across a huge partner network (offline/online).

Executive Summary

Boltt solves one of the biggest problems in personal health: Lack of motivation for personal health improvement. While solving this primary problem, Boltt’s solution successfully provides answers to several other major gaps and pain points in current healthcare ecosystems such as lack of engagement and loyalty for the stakeholders. Engagement, Gamification & Loyalty is the three main pillars for any brand, corporate & business. There is no “One Platform” that provides all three pillars for business & customers alike.

Be it corporations, brands, celebs or retailers alike, all are looking at newer ways to remain engaged with their employees, consumers, fans & stakeholders. With more and more retailers & brands trying to connect with audiences across an array of social channels, the attention span of people is on a decline. Businesses need to quickly figure out what is best for their audiences in order to generate better engagement and increased brand loyalty. Just like a brand, celebrities also have a reputation and online engagement to maintain in order to increase and maximize their audience. Corporations need a better seamless way to engage & motivate to enhance employee productivity. Service Providers need to find differentiated ways to increase retention & acquisition of customers.

Boltt creates an ecosystem of real-life partnerships with retailers, merchants, corporates, service providers, insurance companies, and an integration of gamification, blockchain and distributed ledger technology that aims towards increasing engagement & loyalty based on improved health. The Boltt ecosystem enables people to mine BolttCoins by taking steps, which is a tangible measure of improving one’s personal health. BolttCoin is the exclusive currency used within the ecosystem that can be used as rewards in social gamification, engagement and loyalty programs across the ecosystems.

Technology

Boltt will make use of blockchain technology based on a dual blockchain protocol to record the individual health records, marketplace, exchange, and wallet transactions. In addition, it utilizes several other technologies to develop the mobile app, business logic and admin backbends ensuring the speed, security, and mass adoption. It also provides APIs for other systems & features to easily communicate with the Boltt Ecosystem.

The BolttCoin will be one of the first crypto Token to be simultaneously issued on the Waves platform and the Ethereum platform. Using a cool new technology comprised of a web interface, locked wallets and smartcontracts on the Ethereum side, Boltt Tokens will be dynamically interchangeable from one blockchain to another as the end user wishes.

Data verification & security

Boltt uses an AI based step-counting algorithm to detect & authenticate data. The Boltt step algorithm is in place to ensure that all BolttCoins are earned through hard work and movement. If it was not this way, users could potentially cheat the system by doing things like shaking their phone or using the App in a car etc. Boltt algorithm checks and verifies data against all checkpoints to ensure there are no cases of cheating. E.g. If the data matches a known pattern of cheating like shaking the phone up & down to mimic steps, the values will not be counted. This is a proprietary algorithm that uses certain operations at the Boltt Backend to ensure all captured data is completely authentic.

Boltt gamification engine

Gamification is the process of taking something that already exists – a website, an enterprise application, an online community – and integrating game mechanics into it to motivate participation, engagement, and loyalty.

Boltt aims to redesign the approach to physical activity with fun and addictive elements found in games and applying them to real-world fitness challenges to create a truly fun & rewarding experience. Boltt’s gamification tactics are used to stimulate customer loyalty, drive employee engagement, and increase motivation to become healthy. Businesses can easily reward their customers, users, members, tournament participants and staff with BolttCoins while the platform provides tailor-made analytics for the management.

Boltt Crypto Wallet

Boltt includes a multi-currency crypto wallet that holds both cryptocurrencies and fiat currencies. The Boltt wallet enables access to all the services in the Boltt ecosystem, provides multiple top up, and cash out options, holding fiat or multiple cryptocurrencies, along with added features such as money transfer, bill payments, debit cards & decentralized exchange.  When a user signs up on the platform, the Boltt wallet is created automatically. Then the user can then fund the wallet with cryptocurrencies or fiat currencies. Boltt wallet offers an API for third-party access to developers so that they are able to interact with the wallet. Possibilities include accessing balances, sending transactions, raising invoices, and building third-party apps on top of it. This can further enhance the Boltt Wallet acceptability and usage. On the other hand, the third Party API business model will create more partners who can distribute Boltt services globally to strengthen this network.

Token

Boltt holds its ICO/Token Sale based on Waves & Ethereum Blockchain protocol. It aims to raise 43,000 ETH for scaling up, development and implementation of the platform. *All unsold tokens during pre-ICO and ICO rounds will be reseved in Locked Wallets on respective Blockchains (Waves + Ethereum). Private sale begins May 20th, 2018. During private sales there are 3 levels of Volume Bonus. Contributions between 100-500 ETH will receive a 30% Bonus, Contributions between 500-1500 ETH will receive 40% Bonus & Contributions above 1500 ETH will receive a 50% Bonus. Pre-sale will begin immediately after closure of Private Sales. During pre-sale, bonus is 20% and the minimum investment amount is 10 ETH. If hardcap is reached during pre-sale then Public sale will be cancelled. To know current trend of ICOs, you can check ICO stats.

Team

  • Arnav Kishore
    Arnav Kishore
    Arnav Kishore
    Co-Founder & CEO, Boltt Sports Technologies
  • Sahil Goel
    Sahil Goel
    Sahil Goel
    Co-Founder & Chief Product Strategy CEO & Founder Kraftly
  • Rajesh Bhatia
    Rajesh Bhatia
    Rajesh Bhatia
    Co-Founder & Financial Advisor Former CEO - JSPL
  • Gurdeep Singh
    Gurdeep Singh
    Gurdeep Singh
    Co-Founder & Director Strategic Alliances Former CEO Reliance Comm & Aircel
  • Lalit Kishore
    Lalit Kishore
    Lalit Kishore
    Co-Founder & Chief Strategy Officer Former President & Partner SSIPL Lifestyle.
  • Aayushi Jugasia
    Aayushi Jugasia
    Aayushi Jugasia
    Co-Founder & CMO, Boltt Sports Technologies

Milestones

  • 1
    August 2014
    Start of development os Boltt - the leading ecosystem for tracking health and fitness via wearables and mobile apps.
  • 2
    August 2015
    Founded Boltt Health App to track all in one health and fitness.
  • 3
    September 2016
    Started selling Boltt Wearables on major ecommerce platforms of India.
  • 4
    January 2017
    Boltt Becomes India's #1 Wearable Tech Brand, Boltt Coin Platform Development started.
  • 5
    May 2018
    ICO and MVP We are launching the MVP of the Boltt Coin App in India by May. Just in time for our ICO.
  • 6
    July 2018
    Introduction of Smart Contracts: Boltt SmartContracts - in line with the Smart Contracts being launched on the Waves Platform.
  • 7
    October 2018
    Boltt Loyalty Platform: For Retailers & employees enables merchants to link their existing Loyalty programmers to the Boltt Coins. This will be done by October 2018.
  • 8
    December 2018
    Insurance Benefits: Wherein insurance Companies can reward benefits like discounts on premium in the form of Boltt Tokens to their policyholders basis their health. This will be done by December 2018.
  • 9
    February 2019
    Health and Wellness Ecosystem: in which we want to create an in App Universe of Health services, where in users will be able to pay for food delivery, Health check ups & fitness trainers in Boltt Coins.
  • 10
    April 2019
    Bills, Utility & Entertainment which includes Blockchain based mobile payments for travel, utility bills, movies, recharge & more.
  • 11
    July 2019
    Offline shops & Services for retailers and consumers. To enable Retailer Merchants to list their store online on The Boltt Ecosystem. Or enables users to Purchase good and services offline.

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