Toba: The electric bike that mines cryptocurrency :

Toba: The electric bike that mines cryptocurrency :

In 2 months, the British company 50cycles will launch a new model of electric bike capable of cryptocurrency mining when it is in motion.

50cycles has been developing electric bicycles since 2003, today the company introduces a new concept "Miner of virtual money on the go".

As the specialized media Cyclingindustry reports, the specialist and distributor 50cycles will propose a new model of electric bike called Toba. Its particularity is to mine crypto-currencies during your trips and walks.

For the moment, the bike will only mint LoyalCoin (LYL), LYL tokens will be exchangeable for branded products or other crypto-currencies. A clean 50cycles chip will replace the LoyalCoin in the near future.

50cycles has announced a return of 24 € for 1600km or about 0.015 € per kilometer. Owners of Toba will be able to follow the gains generated by their movements thanks to a mobile application.

50cycles CEO Scott Snaith said:
"This is not only the first electric bike of its kind, but it will also be the first to issue a symbolic reward. We use the LoyalCoin token, but the TOBAs will have their own cryptocurrency as soon as it's possible. "

He added :
"We have always been forward thinking in adopting the latest technologies for our products. Fifteen years ago, we saw the potential of e-bikes in Japan, today we see the future in blockchain technology and crypto-currencies. It's also a way of rewarding our customers with eco-friendly transportation. "

The first Toba bicycles are expected to be delivered in September 2018. The price of the bike was not mentioned in the press release.