By utilizing shared ledgers, smart contracts and cryptographic encryption, Boltt is able to eliminate the intermediaries throughout its ecosystem while ensuring trust, security, transparency, immutability, and auditability across the value chain.
Boltt’s Auditable Health Rewards are based on Trust & Transparency:
- Boltt’s Health Reward Engine are based on a Smart Contract
- This offers complete transparency in the process of token generation
- It is audit-able and hack proof
- Any manipulative actions (faking steps etc.) can be easily traceable and virtually impossible to hide or forge
Hosting Decentralised Fitness Challenges without a middleman:
- All Boltt platform challenges, tournaments and games are recorded on the Blockchain
- The Ethereum Blockchain supports decentralized tournament creation and distribution of the winning with smart contracts
- Players are able participate without being dependent on host decisions, financial regulations, and middleman controls.
- Boltt challenges aim to eliminate the need to trust hosts running centralized platforms.
Boltt’s unique Health ID ensures Data Privacy & Security
- The Health ID uses Blockchain to keep all the health identification data of the users safe.
- Blockchai embeds rules via smart contracts to control access to sensitive health data.
- Users can specify who should be given access to such data.
- All the transactions are logged on the blockchain ensuring that user history is kept private, verifiable, and destructible on demand
Data immutability on the Marketplace:
- The Boltt Decentralized Marketplace rests upon many fundamental pillars of the blockchain.
- One of the most important one is the safety and security.
- All confirmed transactions on the Boltt marketplace are not able to be changed without the consensus of the network
- As long as the blockchain is operative, the data on it is always accessible.
Cost-effectiveness for Ecommerce Transactions:
- The P2P nature of the blockchain does away with the need for any intermediaries to facilitate transactions.
- Transaction cost on the Boltt platform is even less than 0.1% of the transaction value, which is significantly lower compared to centralized payment methods such as PayPal or credit cards.
- Overall, within the Boltt shop, there are automated triggers and processes
- Smart contracts provide the foundation for digitization and automation for business processes.