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Bike Rental Company Starts Reward Program With Tokens in Singapore

Recently, Chinese bike rental company Ofo included a new feature in its app for Singapore users: a rewards program based on blockchain technology.

This is part of a new Ofo campaign called “Riding as Mining”, and the idea works as a reward system that allows users to mine GSE (Global Sharing Economy) tokens while using their bicycles. In this way, they will receive the tokens free of charge according to the amount of time and distance handled with the bicycles they rent.

This campaign was made possible thanks to the collaboration of Ofo with GSELab, the startup issuer of the token, founded in Singapore last January and which aims to establish the first and largest platform in the world based on the exchange economy and blockchain technology. This cryptocurrency can not be mined in any way other than this, nor can it be obtained through exchanges. In addition, at the moment it is not listed on any cryptocurrencies exchange, and its supply is limited to 10 billion tokens. So, apparently, the rewards will be limited to this service for now.

The South China Morning Post news channel managed to get statements from an Ofo spokesperson, who explained that the goal of this campaign is to encourage users to use non-polluting means of transport, adding that this company would pay attention in the future to technologies innovative as the blockchain. He also stated that Ofo decided to offer these services in Singapore since the environment with respect to cryptocurrencies is much friendlier than in China.

Certainly the Singapore authorities have shown a positive attitude towards cryptocurrencies and blockchain technology. A few days ago, the finance minister of this country explained that the government of Singapore is seeking to promote the development and adoption of blockchain in an effort to improve financial inclusion in the region.

On the other hand, the Chinese authorities have been much more hostile with cryptocurrencies, even prohibiting the holding of Initial Offers of Currency (ICO) in the national territory, and all kinds of advertising related to digital coins on the Internet.

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