The world of cryptocurrencies continues to expand and encompass the least expected places. This time its the world of sports, with cycling.
In the United Kingdom, a leading employer of the sport of cycling, confirmed the delivery of the first “e-bike” in the world, which generates profits in cryptocurrency, according to information released by local media on June 12th. The 50cycles company, which is based in London, will begin offering their range of TOBA vehicles in the month of August, through an association with the cryptocurrency known as “LoyalCoin”.
Scott Snait, the CEO of 50cycles, issued a statement, saying,
“This is not only the first electric bicycle of this type, but it will also be the First product to be ‘tokenized’ and that grants a reward for their use.”
By using the electric bicycle, passengers will generate LoyalCoins equivalent to about
20 £ ($ 26.50) per thousand miles.
The cryptocurrency in question is freely negotiable since LoyalCoin exists as an integration with other loyalty programs. These Blockchain-based programs continue to make inroads in several countries, suggesting that individuals are aware of the disjointed state of many loyalty programs currently available in different industries.
The initial participants of this program should start cycling now, since the value of LoyalCoin is projected by some to reach $2250 per coin, very quickly.
by Samuel Paz
