Must say, I did not know exactly how LOOMIA will work, but after reading some interesting posts here, I can imagine now awesome things in the near future. For example, using the smart clothes can be a super idea to watch over your kids, just imagine them wearing some cool micro cams in their clothes, and you just stay in from of your device watching over them. Hmm... what you say about that?
I'm sure that will be possible!
LOOMIA is focused on personal data collection that you can then on-sell to companies. Similar to what Google and Facebook do now, only you are in control and you get the benefits. So its all about taking control of your own data and using it how you want (and of course awesome futuristic clothing that has all kinds of other potential benefits)