50cycles announces cryptocurrency-earning electric bike
50cycles has always lead the way with technology. We started our business selling the world’s first practical folding electric bike in 2003 quickly followed by the world’s first e-bike to use Lithium ion batteries a year later. Along the way we’ve presented e-bikes that measure and respond to your heartbeat, provide route guidance and more. The latest innovation from 50cycles take e-bikes into a whole new dimension, cryptocurrencies.
Our new Toba electric bike generates cryptocurrency tokens while you ride it. These can then be exchanged for goods and services in the Loyalcoin network of retailers, or traded in for other cryptocurrencies like Bitcoin, Litecoin, XEM or Digibytes. The Toba electric bike will retail via www.50cycles.com and is due to start earning Loyalcoins on the nation’s roads from Autumn this year. Scott Snaith, CEO of 50cycles, describes the project:
“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 tokenisation.
“At the moment we are working with LoyalCoin to reward our customers but eventually the TOBA bikes will have their own digital coin which will become one of thousands of currencies of the future.
“And the TOBA will allow riders to become an integral part of its growth – as they earn rewards simply for using the product they choose to own.”
“We want to make sure that we give our customers a life-changing experience, with a tangible product, for the commitment they make to the new TOBA tokenized electric bike.” says Scott.