British Company Launches Electric Bicycle for Mining
June 18, 2018
50cycles, the manufacturer of specialized electric bicycles, has announced the first ever series of electric crypto mining bicycles. Toba, the new line, is supposed to produce about 20 lb. in Loyalcoin tokens per each 1,000 mile (1,600 km).
The founder and CEO of the company Scott Snaith stated:
“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.”
Snaith also mentioned of the company’s plans to enable the cutting edge technologies:
“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.”
Toba bicycles will store its unique private key as ownership proof while customers will be able to trace the amount of mined Loyaltycoin tokens via mobile app. The bikes are expected to enter the market in September.