Users of Ofo in Singapore have noticed a new feature in their app of 28th March. This seems to be part of their "Ride to Mine" campaign, in which users will be rewarded with tokens upon completion of their races, with the project based on blockchain technology.
Here are some screenshots of the app ofo Singapore. As illustrated, users will receive GSE tokens by driving, and are able to use these tokens in different scenarios within the broader sharing economy or exchange with other tokens in the near future.
The competitor of Ofo, Mobike, voted yesterday in its shareholders' meeting and approved the case of the acquisition of Meituan. There is no doubt that the two major players in the bike sharing sector are making ambitious steps one after the other, creating a competitive landscape that is constantly evolving.
As a leading technology, blockchain is spreading its influence around the world, with applications in various industries. Its unique proposal, largely due to its decentralization and immutability, makes it an ideal technology for sectors such as finance, entertainment, law, IoT, etc. Nonetheless, blockchain applications within the sharing economy remain rare, but it is clear that he or she wants to be the pioneer pioneer in the marriage between blockchain and sharing economy.
This will not be the first time you try to venture into blockchain technology projects. According to published information, the 8th In February, the Ethereum block browser data indicated that the chain was testing its network. Since then, there have been speculations that they would set foot in blockchain and generate ERC20-based tokens. The total amount of tokens released would have been about 100 million yuan. However, ofo denied the rumors and expressed that it was an inaccurate information to exploit his brand reputation for his earnings.
According to Li Xiaolai, self-proclaimed "Bitcoin's richest Chinese", he revealed in a WeChat group that seems to be preparing for an ICO. Subsequently, Chen Weixing, part of the same WeChat group, said that ofo discussed with him on numerous occasions related to best practices to conduct blockchain studies. Later it was confirmed that he never considered an ICO and simply wanted to use blockchain and token to design new production relationships.
Referring to the information above, the enterprise of ofo in blockchain seems to be true. They chose to do a test in Singapore because the technology blockchain environment is more flexible. Combining the concept of sharing economy with blockchain also allows you to be more competitive and ambitious in your long-term business plan.