August 13, 2024

Synapx joins the peaqosystem

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In a nutshell: Synapx, a software DePIN for sharing health data from wearable devices, has joined the peaqosystem. Synapx’s DePIN has the potential to bring millions of wearable devices to peaq, as well as ensure peaq’s place at the heart of the healthcare revolution. With Synapx, you will be able to earn rewards for sharing your health data with researchers, doctors, and healthcare platforms.

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Data fit to transform healthcare

Health wearables have become a staple in many people’s lives. If you’ve ever used one, you know how good it feels to hit your daily step goal or burn a set number of calories. Know what would feel even better? Knowing your wearables were helping save lives — not just your own, but the lives of others as well.

With the rise of AI, all the data from our wearables could very well be used to do just that. Imagine if healthcare researchers had access to anonymized, real-time health data from millions of humans. And with AI in the mix to process that data, we could very well have a healthcare revolution on our hands.

However, various issues stand in the way of the widespread adoption of wearables’ data in healthcare. Data repositories are often segmented and siloed. Doctors lack access to the data they require. And some healthcare professionals simply don’t have the know-how to interpret all of that raw data. All in all, it seems like the healthcare revolution still has a long way to go.

Not if Synapx has a say in it, though.

Synapx has joined the peaqosystem to build a software DePIN that will give researchers, healthcare providers, and healthtech platforms access to data from millions of connected health wearables. To accomplish this, Synapx is building a marketplace of physiological data, protected by strong cryptography and orchestrated in an open and transparent way. The people opting to provide data for this marketplace will receive rewards for doing so. They will be able to set access rules for their data, choosing who can access it

The integration will see Synapx leverage peaq IDs, outfitting each device on the network with its unique self-sovereign on-chain identifier. Synapx will also add peaq-compatible wallets to its dApp. It will use the peaq SDK for key system and core function integrations, deploy smart contracts on the home of DePIN, and leverage peaq’s IPFS integration for decentralized data storage. The project will issue its token natively on peaq and set up its reward distribution mechanism on the network as well.

“Easy access to physiological data will revolutionize the way research is done for various institutions. With Web3, we will give people ownership over this data, enabling them to share it with researchers, charities, and healthcare professionals. With its Modular DePIN Functions, high scalability, and a robust data handling toolset, peaq is the perfect home for Synapx.”

— Tim Lee, Co-founder at Synapx

“In the age of AI, physiological data from wearable devices is a true treasure trove for the healthcare industry. Synapx uses the DePIN model to unlock this trove for the medtech space while empowering people to own their wellness data — a true win-win for everyone.”

— Leonard Dorlöchter, co-founder of peaq

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