With the modern contemporary lifestyles these days, consumers are becoming more willing to rent out or share just about everything to make an extra coin or save a bit. From monetizing your car as a taxi to renting out a bike, there seems to be a new trend with the sharing economy.

Fortunately, with blockchain technology making waves in every industry, it seems like the appropriate technology to promote our sharing. Crypto Bike is an example of a venture looking to utilize the capabilities of blockchain technology to improve on the limits within the bike sharing sector. Here's how it intends to achieve its goal.

What Is CryptoBike?

Crypto Bike is a decentralized and independent ecosystem looking to provide users with a bike-sharing and rental platform based on the blockchain. Their services will look to rent out bikes to interested individuals on an hourly basis but with a unique twist of using an independent and electronic structure through the Crypto Bike Share cryptocurrency. The vision is to unite bike riding enthusiasts looking to rent out bikes with an automated bike sharing system with payments having a single currency.

How CryptoBike CBS MasterTeam Bike Sharing Blockchain Works

Users seeking to rent out bikes would first need to get the Crypto Bike Share token (CBS) as it acts as the mode of payment. Once with the CBS coins, the user can steer the Crypto Bike Share network in search of an appropriate bike to rent out. Each user will then go to unlock the bike by using scan able QR code on the bike and sending the proper value of tokens to the CBS network. The 3G chip on the bike then establishes and sends a smart contract request and deposit of the tokens for the owner to unlock the bike.

CryptoBike Advantages

  • High returns for bike owners looking to rent out their bikes when not in use with expected profits reach 31% annually
  • Ownership rights to Crypto Bike's future rent out vehicle fleets and bikes
  • Security that comes with using smart contracts ensures CryptoBike users can invest without the need for a go-between
  • Match and rent options which work to connect the users to the appropriate bike owner and pay for the services
  • Promoting the economy of things works to automate bikes around the world

CryptoBike CBS Token ICO Details

  • Pre-Sale – Set to run from 1 May 2018 and for eight days
  • ICO – Investors should expect an official sale in November as per Crypto Bike Share communication

Parameters Of The ICO

  • Ticker- CBS
  • Platform- Ethereum
  • Accepts- ETH
  • Price- 1 CBS=0.0001 ETH or 1 CBS= 0.03 USD
  • Token supply-
  • Hard cap- 40,000,000 USD
  • Soft cap- 10,000,000 USD

CBS Distribution

  • Reserve for CBS community- 32.5%
  • Reserve for growth and incentivization- 32.5%
  • Token sale- 30%
  • Pre-sale- 5%

CryptoBike Conclusion

Although the use of cryptocurrency often seems complicated, Crypto Bike Share is looking to make use of the technology to offer a seamless and stress-free payment option for riders and owners alike. However, the bike sharing blockchain has nothing unique to offer, and this is mostly a cause for concern when it comes to investing. All-in-all, Crypto Bike Share remains a poorly executed ICO with much of its characteristics pointing to a scam.

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