Burger King releases the WhopperCoin – A challenger to Bitcoin?
When using the digital currency scheme, you will be rewarded with one WhopperCoin for every rouble (1.3p) spent on Whopper sandwiches. Whopper burgers can then be redeemed with the virtual cash, for the mere price of 1,700 WhopperCoins. It may be hard to relate that figure to normal-money, but it roughly works out to one free burger for every six burgers bought. What a ‘tasty’ deal!
Waves, a partner organisation of the scheme, released a statement last Friday confirming that WhopperCoin will be able available to all as a freely transferable and traded online currency, similar to other Blockchain tokens like Bitcoin. Apple and Android apps will be released next month to give users an accessible and easy to understand interface, through which they can save, share and trade their hard-earned WhopperCoins.
How have people reacted to WhopperCoin?
Some commentators see the move as a simple gimmick by the global fast-food giants. However, Burger King appear to be backing the project 100%, having already supplied 1 billion Whoppercoins across their network. A dedicated asset page has also been developed, describing the currency as “a token for buying burgers in Russian Burger King and for the stock exchange.”
Ivan Shestove, head of external communications at Burger King Russia, said in a statement, “Now Whopper is not only a burger that people in 90 different countries love – it’s an investment tool as well.”
Stock exchange; Investment Tool?! These terms may seem a little farfetched when talking about a currency that is exclusively used for buying burgers. However, the WhopperCoin should not simply be disregarded like yesterday’s take-out. Yes, the WhopperCoin crypto-currency is unlikely to become anything more than the modern loyalty scheme it currently is. But, should we question if this type of development is important in terms of our future?
Can you imagine buying your clothes with ‘pri-marks’ or ‘Top-man Coins’. Stopping off to get a coffee with your ‘star-bucks’. The WhopperCoin may seem relatively inconsequential at present, but it may be the start of something much bigger! We’re excited to see the development of block-chain technologies and crypto-currencies, especially if there is free-food involved!