Bicycle-sharing company oBike is preparing to get in on the cryptocurrency rush. The company has announced that it will be launching oCoin in the first quarter of 2018, and will be allowing customers to earn the currency by using oBike services.
oBike is working with Singapore based cryptocurrency Tron to deploy its own version digital currency. In doing so, it will allow oCoin to operate on Tron’s platform; which includes an audio sharing community and livestreaming app.
Earning oCoin is done by taking oBike rides. It’s unclear how difficult it will be to earn the currency, but the report says that longer rides will generate more virtual coins.
Cryptocurrency is a buzzword that’s been going around tech services lately. Likely fueled by the massive value placed on Bitcoin in this day and age. However, it’s difficult to call these things true cryptocurrency. Largely because there is no cryptography involved in earning the currency; but also because they don’t adhere to the decentralised goal of using an alternative virtual currency.
Still, it’s interesting to see whether this form of monetisation will work out for service based companies. Gaming peripheral brand Razer is slightly ahead of the game due to it allowing people to buy in-game and real world products (and doesn’t used the word cryptocurrency), while Crytek has also announced plans for its own currency.
[Source: Channel News Asia]