Singapore Users of Ofo Bike Sharing App to Receive Cryptocurrency Tokens in ‘Ride to Mine’ Campaign
After a series of rumors and news spun for profit, Ofo, one of the largest bike riding apps in China, finally seems to be getting into the blockchain space. A trial feature is being tested in Singapore where users will be rewarded with GSE tokens once they complete the ride.
The launch was announced back in March 2018 and has now been realized with Singapore the customers with access to the GSE tokens. The past stories of Ofo joining the blockchain band have been met with refuting and branded as rumors but the latest feature seems to have confirmed the said ‘half-truths’.
In a story published in February 2018, Ofo showed its willingness to enter into the blockchain space as Ethereum block browser’s data indicated that the Ofo chain was testing its network. The rumors and speculations further stated that the bike sharing app will offer over 100 million yuan in its tokens. Such direct speculation on the future of Ofo in the blockchain space resulted in the company refuting the claims and branding them false.
The speculation on Ofo chain venturing into blockchain technology for personal gain was not to end with the Ethereum block data news. The venture projects in blockchain of the bike sharing app came up in one of “Chinas richest Bitcoin owner”, Li Xiaolai’s WeChat messages. The messages sent out to a WeChat group discloses the plans of Ofo to offer an initial con offering (ICO) later in the year. The WeChat group also has Chen Weixing as one of the members confirmed that the company was looking at launching blockchain trials after discussions with him on how to best conduct these trials.
Ofo denied these claims too stating that the company was looking at blockchain to design new production relations and no mention of an ICO being offered. The company further confirmed they were looking at launching a token.