New kids on the Blockchain

Last year saw an explosion of blockchain-based initiatives in the world of cycling, some successful and others not

(Image credit: Getty)

Earlier this year, the ProTeam Rally Cycling issued a statement on its website announcing the launch of its own cryptocurrency, WattCoin. The idea was that fans could apparently earn WattCoin by riding on their online training platforms and spend them on items on the Rally Cycling website. 

“For too long cycling has been dependent on flawed revenue models, and while we are fortunate to have an incredible family of sponsors behind the team, some other organisations are not so lucky. Now, through WattCoin, we can start building a sustainable economic ecosystem,” read the statement, quoting Rally founder Aaron Charles. 

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Richard Abraham is an award-winning writer, based in New Zealand. He has reported from major sporting events including the Tour de France and Olympic Games, and is also a part-time travel guide who has delivered luxury cycle tours and events across Europe. In 2019 he was awarded Writer of the Year at the PPA Awards.