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The thing tied to it? A carrying strap, I'd say. The actual metal bit built into the BB junction? According to this, a 'Pinion P1.18 gearbox'.
Honestly, I don't particularly like the bike to begin with, mostly due to the somewhat messy-looking cables. Could they not have offered internal routing? Or at least route them better for the pictures...
What is that thing straddling the BB junction?