A Singapore blockchain startup is launching a fleet of blockchain-enabled electric vehicles that will mine cryptocurrencies as you drive. The company, CyClean, wants to reduce carbon emissions and reward people who do that, too.
According to the CyClean white paper, the business model covers electric bicycles and motorbikes, with electric cars in the near future.
Here’s how it works: Electric vehicles and products that are supplied to CyClean are upgraded with a chip that connects to the CyClean server, which tracks the traveled distance or energy output of the user, Cointelegraph reports.
There is a fixed amount of daily rewards, paid in CyClean coins (CCL), with the total divided by the number of users who have exceeded more than a kilometer of travel that day or produced more than one watt of energy. Read more here.