Wellcoin: The World's First Health Currency

by Benson Agoha | Health and Wellness

Health is Wealth, some wise fellow said - for good reason, we know that a healthy mind and body is more productive than a sickly, mentally deranged individual.

Wellcoin Founder: Dr. Glenn Laffel is a Cardiologist.
(Credit: via Boston Herald)

And many of us actually pay heavily to stay healthy, keep fit and maintain a good life. Gyms for example are places where, depending on where you live, you would have to pay an arranged fee to keep fit.

If you live in Royal Arsenal Estates in Woolwich, you may not have to pay to use the Gym, which is located on the left wing of the Concierge office and open 24 hours. But other that, Gym prices in Woolwich varry with Better (Manager of the Woolwich Leisure Centre) charging £20/m for Gym and as much as £40 a month for Spa, Swimming Pool and Gym. FitSpace is cheaper at £12 - £15 a month. Eltham's private Gym is £20/m.

Things may be about to turn around for people seeking to stay healthy and keep fit. And may very well be paid rather than pay to use the Gym. Sounds rather ludicrous, doesn't it? Well not quit! A revolutionary new App launched in Boston this week pays users for their smart lifestyle choices.

The service, called Wellcoin, launched this week is being marketed as the “world’s first health currency.”

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The free app lets iOS and Android users rack up store credit at businesses including Whole Foods, Dick’s Sporting Goods and Pure Barre, according to the Boston Herald.

“Wellcoin creates a reward system,” founder Dr. Glenn Laffel, a cardiologist who performed heart transplants at Brigham and Women’s Hospital for 13 years, said, adding “You can earn Wellcoins for a number of things: volunteer work, seeing a health professional, sleeping for seven hours, helping your child be healthy.”

He said “We’re not trying to cater to any particular community in health and wellness,” adding. “It’s welcoming and all-inclusive.”

How it works: with 14 employees and About 65 partners who pay the company commissions, Wellcoin is optimistic. One thousand Wellcoins is the equivalent of $10 (£6.40).

Users can post their healthy activities and can provide four different forms of proof: photos, automated data from products such as Fitbit, or their friends or fitness instructors can back up their claims, the report said.

Nancy Sweatt, 40, of Newton, has been using the beta version for about a year and a half, and has accumulated 166,000 Wellcoins giving her $166 (£106), some of which she has spent on sport gear for her three kids.

“It gets my family involved. My kids are always thinking of new activities to post,” said Sweatt, who works as a physical therapist. “It definitely keeps me accountable.”

Well the smart idea just might be what the therapist ordered or what do you think?