The United Kingdom-based 50 cycles, which was established in 2003, has disclosed about the “Toba,” which is a digital coin mining electric bicycle. The company is a specialist in manufacturing electric bicycle and came out with the first range of virtual currency mining e-bikes in the world.
This might be new concept taking advantage of the blockchain technology. However, what would it mean to the riders of such e-bicycle? This is a question being haunted among those who are keen to look at the new product.
The company claims the first-of-its-kind bicycle mines roughly 20 GBP (USD 26.5) worth of ‘Loyaltycoin’ for every 1,000 miles covered by the rider.
The Toba bicycle presents riders with a win-win situation as they will be able to exercise their body while earning real money.
Toba bikes can only mine ‘Loyaltycoins,’ and the generated altcoins can be exchanged on cryptocurrency trading platforms for other established cryptocurrency such as ethereum, bitcoin, and others. Additionally, the Loyaltycoin can be redeemed for valuable products on the 50cycles platform. 50cycles founder and CEO, Scott Snaith said,
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