Passionate about bicycle riding? Then Toba, an electric bicycle from 50cycles company has a unique way of benefitting you with health and as well as reward money from Crypto mining.
50cycles, UK based company has revealed first of its kind, which can be used as crypto mining electric bikes. The reward money generated through e-bike mining comes to around 20 Euro worth of Loyaltycoin per 1000 miles ridden.
As per media reports, CEO Scott Snaith told that,
“This is not only the first electric bike of its kind, but it will also be the first product ever to be tokenized and which issues reward for use.”
Furthermore, he went on explaining the importance of blockchain technology and added that,
“We have always been a company that moves ahead of the times by embracing the latest technology. Just like we saw the potential in electric bikes in Tokyo 15 years ago, we now see the promise and future in blockchain technology, cryptocurrency, and product tokenization.”
Now the question is how do customers redeem the reward money earned through e-bike mining. The simple answer to that is the range of products available on the 50cycles online store. Customers can either use Loyaltycoin or can be exchanged using popular cryptocurrencies such as Bitcoin, Litecoin, XEM, and Digibytes.
The company is aiming towards the creation of its own digital coin but right now they working with Loyalcoin. Eventually, this new coin will become one among the thousands of currencies.
The Toba bike riders can track their token generation using a mobile app and the bike will hold its unique private key as proof of ownership.
With the advent of technology more and more companies coming up with ideas of eco-friendly mining equipment. For instance, earlier last month we saw CryptoSolarTech leveraging solar panels for crypto mining.
We surely hope that these environments friendly ideas will prove to be profiteering. What do you think of Toba bicycle? Let us know your thoughts in the comment below.
Join the newsletter to receive the latest updates in your inbox.