💊Market Pain Points

As smart health wearables become more popular, Web2 giants are increasingly gaining control over health data, leading to the centralized storage and usage rights being monopolized by a few large companies. Health data, as a crucial resource, has become a massive industry. According to Statista data, the global health data market was valued at approximately $50 billion in 2023 and is expected to exceed $100 billion by 2028. As the value of data continues to rise, technology companies and health platforms are reaping substantial profits through data monopolization. This phenomenon not only raises widespread privacy and security concerns but also exacerbates the dilemma faced by consumers, limiting their autonomy and transparency in health management.

Data privacy and security are major challenges in the current market. Much health data is stored on cloud platforms, and users' personal information and health statuses are often used without their full consent. Data breaches or misuse can lead to identity theft, fraud, and even more severe legal and financial consequences. For example, some companies may sell users' health data to insurance companies or other businesses, leading to higher insurance premiums or unauthorized data sharing with third parties, thereby violating user privacy.

The centralization of health data also exacerbates market inequality. Ordinary users and small medical institutions often cannot access or utilize this data equally, giving large companies disproportionate influence in health management and medical services. In the medical field, companies with vast amounts of health data can leverage it for competitive advantages, while those without such resources face significant market pressure. This imbalance worsens the wealth gap and hinders fair market competition.

Another significant issue is the lack of user control over their health data. Although health data directly relates to users' well-being, most consumers do not fully control how their data is used. Traditional health management platforms often use user data for advertising, medical product recommendations, and other commercial activities without explicit consent, offering no compensation to users. Users are typically unaware of how their data is being used, and platforms lack transparency, leading to a lack of trust in data handling and severely impacting consumer choice and privacy protection.

Moreover, barriers to health data sharing hinder industry development. Despite the growing global demand for health data exchange, the sensitivity of health data and legal restrictions create numerous technical and legal obstacles to cross-platform data sharing. This delays potential health research, treatment plans, and personalized medical services, affecting the implementation of new technologies and innovations. For example, the lack of effective data exchange mechanisms prevents medical research institutions from obtaining sufficient real-world data, constraining the development and dissemination of new therapies.

In this context, we aim to introduce cryptographic technologies and reshape the market with Web3, launching the first AI+DePIN (Decentralized Physical Infrastructure Networks) Web3 smart ring, ZenithRing. By combining artificial intelligence and blockchain, we strive to reshape user data sovereignty in a decentralized manner, creating an open ecosystem where "Health to Earn" is possible. Users can earn token rewards through health behaviors and data contributions while enjoying AI-driven personalized health management services, achieving both health and value growth.