LoyalCoin and 50cycles are Letting Users Pedal to Earn Crypto
Justin Lam — September 6, 2018 — Tech
References: cyclingindustry.news & cointelegraph
In an effort to increase ridership, 50cycles is partnering with LoyalCoin to deliver the world's first cryptocurrency-generating e-bikes. Available in London, England, the cryptocurrency-generating e-bikes will allow users to accrue LoyalCoin at a rate of £20 worth to every 1,000 miles pedaled. According to Scott Snaith, CEO of 50cycles, "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.”
Users engaged with these cryptocurrency generating e-bikes will be able to monitor how much LoyalCoin they've gained through a mobile app, which will also hold the user's private key as proof of ownership. The accrued cryptocurrency can be freely traded as an integration with other loyalty offerings. 50cycles will also accept the crypto as payment for various products.
Users engaged with these cryptocurrency generating e-bikes will be able to monitor how much LoyalCoin they've gained through a mobile app, which will also hold the user's private key as proof of ownership. The accrued cryptocurrency can be freely traded as an integration with other loyalty offerings. 50cycles will also accept the crypto as payment for various products.
Trend Themes
1. Cryptocurrency-generating E-bikes - The world's first cryptocurrency-generating e-bikes provide a disruptive opportunity to combine sustainable transportation with digital currency accumulation.
2. Tokenization of Products - The tokenization of the cryptocurrency-generating e-bikes creates a disruptive opportunity to incentivize product usage and reward customer loyalty.
3. Mobile App Integration for Crypto Monitoring - The integration of a mobile app to monitor cryptocurrency earnings from the e-bikes presents a disruptive opportunity for users to track and manage their digital currency accumulation.
Industry Implications
1. Electric Bicycles - The electric bicycle industry can benefit from the disruptive innovation of cryptocurrency-generating e-bikes by attracting a new segment of customers interested in sustainable transportation and digital currency accumulation.
2. Cryptocurrency - The cryptocurrency industry can embrace the disruptive innovation of cryptocurrency-generating e-bikes to expand utility and adoption by integrating digital currency rewards and payment options.
3. Mobile App Development - The mobile app development industry can seize the disruptive opportunity presented by cryptocurrency-generating e-bikes to create innovative solutions for tracking and managing digital currency earnings.
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