a UK based company named 50cycles, founded in 2003 has made world's first electric bicycle that can mine cryptocurrency. the e - bike generate approximately 26.5 USD worth of 'Loyalcoin' per 1000 miles ridden.
The company’s founder and chief executive officer, Scott Snaith told that “This is not only the first electric bike of its kind, but it will also be the first product ever to be tokenized and issues reward for use.”
Scott Snaith said that “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.”
'Cyclists to be Rewarded in ‘Loyaltycoin’
E-Bike owners are unable to choose which cryptocurrency is mined, each of the electric bikes exclusively mining for ‘Loyaltycoin’, a token which will be redeemable in exchange for products available on the 50cycles website, or that can be exchanged for leading cryptocurrencies exchanges through Loyaltycoin’s platform.