First Crypto Mining cycle, Blockchain Innovation in Rotterdam

Łukasz Mirytiuk
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The cycle which will be mining cryptocurrency while riding, why not!

First electronic cycles which will reward for pedaling is to be released soon by UK-based company. Rotterdam wants to revolutionize their cargo program via blockchain.

Cryptocycle

15 years in business celebration done right?

50cycles, London-based, electric cycles retailer, confirmed that it will deliver “the first of a kind” e-bike, the Cycling Industry News reported.

TOBA cycles will not only be electric cycles, but also will generate cryptocurrency LoyalCoin (~$26) per 1000 miles (1609 km).

“At the moment we are working with LoyalCoin to reward our customers but eventually the TOBA bikes will have their own digital coin which will become one of thousands of currencies of the future, and the TOBA will allow riders to become an integral part of its growth.” CEO Scott Snaith told CIN.

The tokens will be used for discounts on 50cycles partners products and also as a payment for 50cycles products.

50cycles company sees future in innovation, as CEO said

“Just like we saw the potential in electric cycles in Tokyo 15 years ago, we now see the promise and future in blockchain technology”

PortXL

PortXL is a Rotterdam Authority innovation program, as a part of it, the Authorities have signed an agreement with Dutch blockchain-based startup – CargoLedger, to use their technology for tracking asa Transport Online reported.

The blockchain technology will be implemented to track shiploads as a part of PortXL accelerator. The reason behind decision, is to improve quality of the control in supply chains and make the system more transparent and secure, and also,  to innovate the management and handling of cargo.

The whole process of recording and processing data from labeled shiploads will be in the blockchain. The data will be scanned from labels and received by  Rotterdam’s ports in order to gain immediate insight into the condition of the load, such as its temperature and humidity.

Right now, more and more companies decide to implement blockchain to their cargo tracking and recording. They want to reduce costs, waste and make the whole process safer and more transparent, like Walmart which announced implementing blockchain tech a few weeks ago.

 

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