For some, just the idea of tracking steps and calories is enough to make them exercise - but many of us need much more of an incentive. So designers in Austin have created a concept app that rewards you for working out by turning your heart rate data into virtual currency. The FitCoin technology syncs with fitness trackers to monitor how much energy is being used and this energy is converted into Bitcoins. Scroll down for video. The FitCoin technology syncs with fitness trackers to monitor how much energy is being used and this energy is converted into Bitcoins (pictured). It was created by Chaotic Moon Studios, a technology studio in Austin, Texas and the designers recently demonstrated the app at this year's SXSW festival. It was created by Chaotic Moon Studios, a technology studio in Austin, Texas and the designers recently demonstrated the app at this year's SXSW festival. 'This concept combines two of our specialties: looking good and making money,' said Chaotic Moon boss, Ben Lamm. 'We're always trying to turn existing habits into new opportunities to make money - this one was an obvious fit.' A Bitcoin is a piece of data locked in an internet-based network by a complex equation computers can break. Each Bitcoin is a piece of code that has been generated through computer processing, known as 'mining'. Once released it can be traded and used online and can be bought with cash. Bitcoin operates as a two-way currency which can be exchanged for dollars, and vice versa. The finite nature of Bitcoins means it performs more like a commodity, such as gold. Bitcoin first emerged in 2008 and launched as a network in 2009. It was created by a hacker whose identity is a mystery, but is known as Satoshi Nakamoto. This is thought to be a pseudonym for the person or group who created it. Users choose a virtual wallet  which enables them to receive, give and trade coins from other users. The app only works with fitness trackers that monitor heart rate and have open source software, which includes the Jawbone UP3 and Mio. As the wearer exercises, the fitness tracker sends the heart rate data and length of activity to the app which then determines how much energy is being used. An algorithm then converts this energy into 'computer processing time on a Bitcoin mining rig' - or how much computer power would be needed to mine the virtual coins. A Bitcoin is a piece of data locked in an internet-based network by a complex equation computers can break. Once released it can be traded and used online and can be bought with cash. In particular, each Bitcoin is a piece of computer code that has been generated through computer processing, also known as 'mining'. During the demonstration, designer Grant Nicol wore a Mio band and ran on a treadmill for three minutes and 40 seconds. His heart rate raised to 115 beats per minute and this mined around five cents. Although this is a low amount, the technology is a concept so needs some refinement. Plus the more energy a user expends, the more money they make. As the wearer exercises, the tracker sends heart rate data and length of activity to the app which then determines how much energy is being used. An algorithm converts this energy into 'computer processing time on a Bitcoin mining rig' - or how much computer power would be needed to mine the virtual coins. A Bitcoin (illustrated) is a piece of data locked in an internet-based network by a complex equation. In particular, each Bitcoin is a piece of code that has been generated through computer processing, known as 'mining'. Once released it can be traded and used online and can be bought with cash. Users can choose a virtual wallet to receive the money and can then trade coins with other users or with retailers who accept them, such as eBay and Microsoft. FitCoin gives users real-time notifications and earnings updates as well as a dashboard to track how both their body and their bank account are progressing. Chaotic Moon is also hoping that the technology could lower health insurance rates. For example, monthly rates could drop based on the amount of activity the user does. Or sportswear firms could offer discounts when bought using virtual currency earned through the app. Users can choose a virtual wallet to receive the money and can then  trade coins with other users or with retailers who accept them, such as eBay and Microsoft. FitCoin gives users real-time notifications and earnings updates as well as a dashboard to track how both their body and their bank account are progressing.
Here is a summary of the highlights for this article:
Concept technology was created by Austin-based Chaotic Moon Studios.
It syncs with fitness trackers, such as the Jawbone, to monitor heart rate.
App tracks length of activity  to determine how much energy is being used.
Algorithm then converts this energy into 'CPU time on a Bitcoin mining rig'
During a demo the designers earned five cents for four minutes activity.
And the more energy a user expends, the more digital currency they mine.
För vissa räcker det med att spåra steg och kalorier för att få dem att motionera - men många av oss behöver mycket mer av ett incitament. Så designers i Austin har skapat en konceptapp som belönar dig för att träna genom att omvandla dina pulsdata till virtuell valuta. FitCoin-teknologin synkar med fitness trackers för att övervaka hur mycket energi som används och denna energi omvandlas till Bitcoins. Scrolla ner för video. FitCoin-teknologin synkar med fitness trackers för att övervaka hur mycket energi som används och denna energi omvandlas till Bitcoins (bilden). Den skapades av Chaotic Moon Studios, en teknikstudio i Austin, Texas och designers demonstrerade nyligen appen på årets SXSW-festival. Den skapades av Chaotic Moon Studios, en teknikstudio i Austin, Texas och designers demonstrerade nyligen appen på årets SXSW-festival. "Det här konceptet kombinerar två av våra specialiteter: ser bra ut och tjänar pengar", sade Chaotic Moon boss, Ben Lamm. "Vi försöker alltid att omvandla befintliga vanor till nya möjligheter att tjäna pengar - den här var en uppenbar passform. " En Bitcoin är en databit låst i ett internetbaserat nätverk av en komplex ekvation datorer kan bryta. Varje Bitcoin är en bit kod som har genererats genom datorbehandling, känd som 'mining'. När den väl släppts kan den handlas och användas online och kan köpas med kontanter. Bitcoin fungerar som en tvåvägsvaluta som kan bytas mot dollar, och vice versa. Bitcoins ändliga natur innebär att den presterar mer som en vara, till exempel guld. Bitcoin uppstod första gången 2008 och lanserades som ett nätverk 2009. Den skapades av en hacker vars identitet är ett mysterium, men är känd som Satoshi Nakamoto. Detta tros vara en pseudonym för personen eller gruppen som skapade den. Användare väljer en virtuell plånbok som gör det möjligt för dem att ta emot, ge och handla mynt från andra användare. Appen fungerar endast med fitness trackers som övervakar pulsen och har programvara med öppen källkod, som inkluderar Jawbone UP3 och Mio. När användaren tränar skickar fitness trackern pulsdata och aktivitetslängd till appen som sedan bestämmer hur mycket energi som används. En algoritm omvandlar sedan denna energi till 'datorbearbetningstid på en bitcoin gruvrigg' - eller hur mycket datorkraft som skulle behövas för att bryta de virtuella mynten. En Bitcoin är en databit låst i ett internetbaserat nätverk av en komplex ekvation datorer kan bryta. När den väl släppts kan den handlas och användas online och kan köpas med kontanter. I synnerhet är varje Bitcoin en bit datorkod som har genererats genom datorbehandling, även kallad "gruva". Under demonstrationen bar designern Grant Nicol ett Mioband och sprang på ett löpband i tre minuter och 40 sekunder. Hans puls ökade till 115 slag per minut och detta bröts runt fem cent. Även om detta är en låg mängd, tekniken är ett begrepp så behöver viss förfining. Och ju mer energi en användare förbrukar, desto mer pengar tjänar de. När bäraren tränar skickar trackern pulsdata och aktivitetslängd till appen som sedan avgör hur mycket energi som används. En algoritm omvandlar denna energi till "datorbehandlingstid på en bitcoin gruvrigg" - eller hur mycket datorkraft som skulle behövas för att bryta de virtuella mynten. En bitcoin (illustrerad) är en databit låst i ett internetbaserat nätverk av en komplex ekvation. I synnerhet är varje Bitcoin en bit kod som har genererats genom datorbehandling, känd som "mining". När den väl släppts kan den handlas och användas online och kan köpas med kontanter. Användare kan välja en virtuell plånbok för att ta emot pengarna och kan sedan handla mynt med andra användare eller med återförsäljare som accepterar dem, såsom eBay och Microsoft. FitCoin ger användarna realtidsmeddelanden och resultatuppdateringar samt en instrumentpanel för att spåra hur både deras kropp och deras bankkonto fortskrider. Chaotic Moon hoppas också att tekniken skulle kunna sänka sjukförsäkringen. Till exempel, månatliga priser kan sjunka baserat på hur mycket aktivitet användaren gör. Eller sportkläder företag kan erbjuda rabatter när de köps med hjälp av virtuell valuta tjänat genom appen. Användare kan välja en virtuell plånbok för att ta emot pengarna och kan sedan handla mynt med andra användare eller med återförsäljare som accepterar dem, såsom eBay och Microsoft. FitCoin ger användarna realtidsmeddelanden och resultatuppdateringar samt en instrumentpanel för att spåra hur både deras kropp och deras bankkonto fortskrider. Här är en sammanfattning av höjdpunkterna för denna artikel:
For some, tracking steps and calories is enough to get them to exercise - but many of us need much more of an incentive. So designers in Austin have created a concept app that rewards you for training by converting your heart rate data into virtual currency. FitCoin technology syncs with fitness trackers to monitor how much energy is used and this energy is converted to Bitcoins. Scroll down for video. FitCoin technology syncs with fitness trackers to monitor how much energy is used and this energy is converted to Bitcoins (pictured). It was created by Chaotic Moon Studios, a technology studio in Austin, Texas and designers recently demonstrated the app at this year's SXSW festival. It was created by Chaotic Moon Studios, a technology studio in Austin, Texas and designers recently demonstrated the app at this year's SXSW festival. "This concept combines two of our specialties: looks good and makes money," said Chaotic Moon boss, Ben Lamm. "We always try to transform existing habits into new opportunities to make money - this one was an obvious fit." A Bitcoin is a piece of data locked in an internet-based network of a complex equation computers can break. Each Bitcoin is a piece of code that has been generated through computer processing, known as 'mining'. Once released, it can be traded and used online and can be purchased with cash. Bitcoin acts as a two-way currency that can be exchanged for dollars, and vice versa. The finite nature of Bitcoin means that it performs more like a commodity, such as gold. Bitcoin first emerged in 2008 and was launched as a network in 2009. It was created by a hacker whose identity is a mystery, but is known as Satoshi Nakamoto. This is believed to be a pseudonym for the person or group who created it. Users choose a virtual wallet that allows them to receive, give and trade coins from other users. The app only works with fitness trackers that monitor the pulse and have open source software, which includes Jawbone UP3 and Mio. When the user exercises, the fitness tracker sends heart rate data and activity length to the app which then determines how much energy is used. An algorithm then converts this energy into 'computer processing time on a bitcoin mining rig' - or how much computer power would be needed to break the virtual coins. A Bitcoin is a piece of data locked in an internet-based network of a complex equation computers can break. Once released, it can be traded and used online and can be purchased with cash. In particular, each Bitcoin is a piece of computer code that has been generated through computer processing, also known as "mine". During the demonstration, designer Grant Nicol wore a Mio band and ran on a treadmill for three minutes and 40 seconds. His pulse increased to 115 beats per minute and this was broken around five cents. Although this is a low amount, technology is a concept so needs some refinement. And the more energy a user consumes, the more money they earn. When the wearer exercises, the tracker sends heart rate data and activity length to the app which then determines how much energy is used. An algorithm converts this energy into "computer processing time on a bitcoin mining rig" - or how much computer power would be needed to break the virtual coins. A bitcoin (illustrated) is a piece of data locked in an internet-based network of a complex equation. In particular, each Bitcoin is a piece of code that has been generated by computer processing, known as "mining". Once released, it can be traded and used online and can be purchased with cash. Users can choose a virtual wallet to receive the money and can then trade coins with other users or with retailers accepting them, such as eBay and Microsoft. FitCoin provides users with real-time messages and results updates as well as an dashboard to track the progress of both their body and their bank account. Chaotic Moon also hopes that the technology could reduce health insurance. For example, monthly prices may fall based on how much activity the user does. Or sportswear companies can offer discounts when purchased using virtual currency earned through the app. Users can choose a virtual wallet to receive the money and can then trade coins with other users or with retailers accepting them, such as eBay and Microsoft. FitCoin provides users with real-time messages and results updates as well as an dashboard to track the progress of both their body and their bank account. Here is a summary of the highlights of this article:
Konceptteknik skapades av Austin-baserade Chaotic Moon Studios. Den synkar med fitness trackers, till exempel Jawbone, för att övervaka pulsen. App spårar aktivitetslängd för att avgöra hur mycket energi som används. Algoritm omvandlar sedan denna energi till 'CPU-tid på en Bitcoin gruvrigg' Under en demo tjänade designers fem cent för fyra minuters aktivitet. Och ju mer energi en användare förbrukar, desto mer digital valuta bryter de.
Concept technology was created by Austin-based Chaotic Moon Studios. It syncs with fitness trackers, such as Jawbone, to monitor the pulse. App tracks activity length to determine how much energy is used. Algorithm then converts this energy into 'CPU time on a Bitcoin mining rig' During a demo, designers earned five cents for four minutes of activity. And the more energy a user consumes, the more digital currency they break.