Burger King Launches Its Own Cryptocurrency In Russia

Burger King has joined the recent trend of corporate entities getting directly involved with digital currencies. Burger King just floated it’s on cryptocurrency in Russia called “WhopperCoin”.

Burger King Russia intends to roll out the currency by giving it as reward to customers who purchase its signature Whopper sandwich. These customers will receive WhopperCoin tokens in their digital wallets.

A few years back, Russia seemed somewhat unfriendly towards digital currencies but the reverse is the case lately. Cryptocurrencies seem to be enjoying approval in the Federation with no less a person than the Deputy Prime Minister Igor Shuvalov giving it his backing. In an interview with the RBC in Russia, he said: “I am a supporter, a cryptoround (sic) must exist.”

How Burger King’s WhopperCoin Will Work

WhopperCoin will be powered by the Waves platform. The Waves platform blockchain allows individuals and projects to easily develop their own customized tokens which can be traded on peer-to-peer crypto-exchanges.

Blockchain is a public ledger of transactions that cannot be altered or erased. Blockchain technology is gradually revolutionizing the world of financial transactions and legal contracts.

In a press statement by the WAVES team, they indicated that WhopperCoin tokens will be used to rewards customers for each purchase of Burger King’s Whopper Sandwich. Eventually customers will be able to exchange the tokens for burgers and the tokens will also be tradable – enabling customers to either save or sell their tokens to other customers.

“Now Whopper is not only burger that people in 90 different countries love – it’s an investment tool as well” Ivan Shestov who is head of external communication at Burger King in Russia is reported to have said.

He is further reported to have said that “According to forecasts, cryptocurrency will increase exponentially in value. Eating Whoppers now is a strategy for financial prosperity tomorrow”

Burger King will be releasing mobile apps to support the digital currency in the next couple weeks.

Comments