Galvan, a leading health and wellness company in the Web3 space, announced the launch of its blockchain dedicated to health and wellness.
Artist, Austin Simkins, depicts the first blockchain centered around health and wellness. This new form of connection will link both data chains and the individuals within our community.
The “Galvan Blockchain” is a layer-2 of Ethereum and is governed by Galvan node owners, who facilitate rewards distribution and voting proposals. Prior to its launch, over 1,200 node owners in 30 countries participated in node network testing—laying the groundwork to become the global blockchain for health transactions. “Our mission is to improve the health and well-being of people around the world,” says Galvan CEO Adam Sharp. “We believe blockchain technology is a powerful tool for achieving this goal, and we are excited to lead the way in this space.”
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Rewards for Healthy Actions
The Galvan Blockchain will power a unique digital-reward economy for the Galvan Wellness App. The app will use proven methods that encourage healthy-decision making, empowering users to track their wellness and earn “IZE” rewards from the blockchain with their friends and family.
One of the first action points that will be rewarded is exercise. According to the US Department of Health and Human Services, just 150 minutes per week of moderate-intensity exercise has major health benefits. App subscribers who own and operate nodes will be able to connect to popular fitness devices, track their elevated heart rate, and earn rewards from the blockchain when these recommendations are met.
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The rewards will then be spendable in a wellness marketplace and transferable to the Ethereum Blockchain. The app is currently in private beta and is expected to release early 2023.
Rewards are not available for purchase from Galvan. They are digital rewards earned in exchange for work and action on the Galvan Blockchain. The digital reward is designed to have utility on the Galvan platform for the purchase of Galvan’s products and services. The digital reward is not an investment product and may never have any value outside of the Galvan platform. Galvan Node Owners should not expect to recognize any value from the digital reward other than its utility with Galvan. Galvan does not anticipate correlation between the digital reward value and Galvan’s business activities.
This press release may contain forward-looking statements that involve substantial risks and uncertainties. Forward-looking statements discuss plans, strategies, prospects, and expectations concerning the business, operations, markets, risks, and other similar matters. There may be events in the future we cannot accurately predict or control. Any forward-looking statement contained herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not plan to update or revise publicly any forward-looking statements except as required by law.
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