The fitness app pays digital sweatcoins for how many steps users take daily as measured on their smartphones. They can be exchanged for fitness-related products and services and, say its developers, could one day be traded like money or even cryptocurrencies such as bitcoin. While inspired by bitcoin, the system is not yet on blockchain, a record-keeping system that is designed to make transactions irreversible, Fomenko said. It is also not formally convertible into established currencies, as widely traded, often volatile cryptocurrencies can be, he said. Fomenko plans eventually to develop the technical and security features to enable it to be listed on cryptocurrency exchanges, creating a marketplace for movement, he said.

https://www.cnbc.com/2018/01/17/reuters-america-chart-topping-fitness-app-sweatcoin-secures-funding.html