Burger King long ago proved to be different than other fast food restaurants when they started allowing their customers to customize their Burger order precisely the way that suited their palette - - perhaps with no Pickles or no Lettuce and extra Mayo. Now Burger King of Russia has pushed the envelope once again, but in a very big way, by issuing its own crypto-currency called the WhopperCoin.
Customers can claim one WhopperCoin for every Ruble they spend on a Whopper Sandwich. Utilizing these WhopperCoin’s customers can then purchase a Whopper with the virtual currency, once they have acquired 1,700 WhopperCoins.
To facilitate the transaction the company indicated it would release Apple & Android apps in September so that people could save, share, and trade their Whoppercoins contained in their wallet. Customers will be able to claim their coins by scanning a receipt with a smartphone.
Burger King has partnered with crypto-cash startup Waves to create and run the program. Waves indicated that it generated 1-Billion Whoppercoins to use for this purpose. At the current cost for a Whopper in Russia, a free sandwich can be obtained for every five or six that are purchased with Rubles
The crypto-currency is a stand-alone system, technically similar to Bitcoin but yet distinctly different.
According to Ivan Shestov, head of external communications for Burger King Russia, the promotion has turned the Whopper into an “investment vehicle”.
While it appears Burger King is the first major corporate brand to issue its own crypto-cash, assuredly others are expected to follow. Some are comparing this to a loyalty program, such as airline miles, however if these crypto-currencies can be traded for other national currencies or other assets could make them more compelling than any current loyalty rewards program.
What seems to be the big question is who else would accept the Whoppercoin, in other words will McDonalds in Russia allow payment in Whoppercoins for a Quarter Pounder? At the same time there is fear that these coins could be used for money laundering and ransomware payments.
In summary, the next time you are in Russia and step into a Burger King restaurant, you might want to chant one of their catchy modified slogan’s “Hold the pickles, Hold the lettuce, BK-crypto won’t upset us”.
Everyone mark this day. Bitcoin was just the beginning of the beginning. This marks the day that cryptocurrencies will actually change the world.
Amen!