AMA with Oleg Fomenko, Sweatcoin co-founder and CEO


#1

Got some questions for the CEO of the fastest growing health and fitness app in history? Well now’s your chance to ask Oleg anything! :speaking_head:


#2

Does sweatcoin mine bitcoin or any other cryptocurrency in the background?


#3

When will sweatcoin be on an exchange? Will my accumulated coins convert?


#4

Why and how are you just giving away free stuff for walking


#5

What’s the biggest thing you as a team are looking forward to in 2019


#6

Do you have any plans to expand the in app market place adding more offers daily?


#7

Do you have any plans to release sweatcoin merch such as clothing and accessories


#10

Yes, this is the plan, but given that our network is already processing 50 times more transactions at peak than bitcoin blockchain can THEORETICALLY process it is a pretty sizeable project that we are working on. Once this work is finished we will be able to get onto exchanges!


#11

Coin is a coin is a coin and all your balance will count, so yes.
The timeline is not to be announced yet.


#12

Progress update on where you are at launching blockchain on Sweatcoin?


#13

We are not giving away free stuff for walking. It is our vendor partners that provide the goods for your sweatcoins. They value your movement and because you are active they value you becoming their customer. If brand is interested in users who are into physical activity, sport, fitness, lifestyle, fashion then sweatcoin attracts their dream audience … which is you!


#14

Getting onto blockchain and allowing you to cash out!


#15

Do you plan on Hosting any future competitions I love the Instagram competition going on right now however I would like to see some long term competitions


#16

It is not only that number of daily offers that matter :slight_smile: We are looking at many other ways of giving you an opportunity to use your sweatcoins in your daily life … and not only to make your life better, but perhaps to allow you to contribute to making a world a better place!


#17

Great question - do you think we should?


#18

Will Sweatcoins be valued against Bitcoin or $/£?


#19

I think it would be a great way to help with the promoting side of the app but also for our running community and members that use sweatcoin daily I’m sure people would be up for purchasing hats, tops, gloves with the sweatcoin brand on!


#20

I for one will be proud to wear Sweatcoin branded apparel


#21

We have run a testnet of 100 nodes that clearly showed that there is a technology able to support our throughput requirements, but it is not production-ready yet.


#22

Yessss phatt.one glad to see you here