Bicycle company 50cycles introduced new electric bike that allows users to earn cryptocurrency as they cycle

Briefing

June 22, 2018

Briefing	Cryptocurrency-Enabled Bicycle – Bicycle manufacturer 50cycles developed world’s first electric bike, called Toba, that can generate cryptocurrency as users cycle Virtual Currency – Enables users to earn LoyalCoins at rate of £20 ($26) per 1,000 miles traveled, which can be used to buy products from 50cycles, trade for Bitcoin, Zen, Litecoin, and Digibytes, or redeem in stores that accept cryptocurrency LoyalCoin – Digital asset that can be used as payment or for redeeming rewards from participating merchants Mobile App – Allows monitoring of tokens earned through smartphone app Currency Launch – Will launch or use own cryptocurrency in future Commercial Availability – Toba bike will be released in U.K. in September 2018
Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Market Disruption	New Payment Technologies
Business Model and Practices Business Model and Practices	Deeper Customer Relationships, Unique Value Propositions
Sector	Consumer Durables, Transportation and Logistics
Organization	50cycles Ltd.
Source	Sutton, M., "50 Cycles launches electric bike that generates cryptocurrency as you ride", Cycling Industry News, https://cyclingindustry.news/; Lee, A., "The bike that earns cryptocurrency as you cycle", Alphr, http://www.alphr.com/; AcceleratingBiz analysis
Original Publication Date	June 18, 2018

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