Many will have heard of Bounts (www.bounts.it) who reward users with things like High st shop gift cards for being active and Pact (www.pactapp.com) where you can "stake" an amount of money that you will be active and be rewarded with real money if you meet the activity level.
Here already there is a sniff of a problem. As the rewards are based on the data from your fitness tracker, temptation may creep in to, well, cheat a bit. We all know that the trackers are not flawless and can be fooled into thinking you are moving when you are not. What if you were to exploit this for financial gain? Maybe you need a few thousand steps because its been a bad day so you cheat a bit to keep your records looking "all green". Or maybe you buy 5 used Fitness Trackers and sign up to reward schemes and fake a high level of activity on all five! You could make fair bit of cash that way for not much effort.
But it gets worse. Reportedly, insurance companies are beginning to offer discounts if you use a Fitness Tracker and allow them to see the data. Some schools and universities are also giving users a tracker that they must wear as part of their admissions policy.
No doubt these ideas are well intentioned, but as always where there is an opportunity, someone will exploit it.
I recently read an interesting article "How to Hack your Fitness Data" that takes these ideas further and even presents some "helpful" examples of how people could be/are cheating the system.