Bitcoin

BitBike: This Bitcoin-Powered ‘AirBnB’ for Bicycles Wants Your Vote

Matthew Tompkins | Jul 18, 2017 | 11:00

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BitBike, a P2P bike sharing startup using Bitcoin for payment, is currently looking for votes to determine the first cities for launch.

‘AirBnB’ for Bikes with Bitcoin

The aim of the bike hire initiative is for people to both rent their own bike and hire them out to other BitBike members using a mobile phone app.

Users will be able to browse bikes that are currently available and the BitBike website promises that there will be user reviews too. Payments will be made by scanning a QR code with your phone and the website states that the app will accept payment in Bitcoin, Ethereum, ERC20 tokens as well as other cryptocurrencies.

The actual prices for bike hire are currently undisclosed, as is any information about possible tracking data, fees, insurance and deposits. With companies like Uber successfully exploiting the gig economy, the BitBike model seems more aligned to an AirBnB method of hire.

#bike + #bitcoin = #bitbike 🚀 pic.twitter.com/fxYawf1lhY

— bitbike (@bitbikeMe) July 11, 2017

BitBike Needs Your Votes

The company is looking to go global after an introductory period in a select few cities. These initial cities will be determined by voter interest as BitBike are asking for votes to be cast on their website.

Currently, the most popular cities, receiving votes are Amsterdam, Berlin, Portland, Brussels, Barcelona and Dussledorf.

The scheme is due to start in the Spring of 2018 in the five most voted cities.

Bike Hire Craze

The startup looks to make bike hire an easy feat no matter which city you find yourself in. London has recently developed as a hub for bike sharing, where cyclists can simply pick up bikes at docking stations and return them to any of the other bike docks in the city.

The UK scheme has been a success, with research showing the country is seeing an increase in people cycling, especially women.

Quite whether BitBike can match the simple pick up and cycle formula remains to be seen, however, it certainly offers promise as an opportunity for tourists to easily hire bikes using a universal currency and phone application.

Would you be interested in local Bike Hire or Renting your bike for extra cash? Let us know what you think in the comments below.

Images courtesy of Shutterstock, Twitter, Bitbike