A shop in Twickenham is to sell the world’s first crypto ebike - an electric bicycle which turns miles pedalled into digital cash.
The bike, known as the TOBA, is an electrically-powered bike with an electric motor used to add a boost to human pedal power, making it much easier to cover big distances.
The TOBA will be the first electric bike of its kind to be tokenised.
TOBAs will reward riders for hitting the road by generating around twenty pounds’ worth of cryptocurrency tokens for every 1,000 miles they pedal.
Coins can be redeemed across a number of brands and stores, or traded for popular digital tokens such as Litecoin, Bitcoin, XEM and Digibytes.
TOBA users will be able to monitor how many tokens they are generating through a mobile app which communicates with the ebike.
Each bike will hold its own private key as a proof of ownership and data record.
The TOBA, which will cost £2,595 to buy, will be launched in September at 50cycles on the London Road in Twickenham, and discounts will be offered to people who pay in cryptocurrency.
Scott Snaith, founder and CEO of 50cycles, says: "It is a way of rewarding our customers and riders who are fully-committed to green transportation.
"We have always been a company that moves ahead of the times by embracing the latest technology.”
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