Burger King, one of the most prominent names in the fast-food industry, is soon to be one of the first major food organizations to embrace blockchain technology in Russia. It has just been announced that Burger King Russia will be implementing the use of Whoppercoins – affectionately named after the famous sandwich was first introduced in 1957.
This announcement comes just months after Burger King Russia hinted that it may soon allow customers to purchase their value meals with Bitcoin. The use of Bitcoin to pay for Burger King meals in Russia is still in the speculation phase, although it has been reported that a Burger King location in Moscow did allow one of its customers to pay for his meal in BTC.
What Is Whoppercoin?
Crypto websites and Russian media outlets have reported that Burger King Russia recently produced 1 billion tokens of Whoppercoin, issued on the Waves Platform. Additional coins may be added in the future.
So, how will the Whoppercoin work? The tokens appear to be a new type of rewards program, wherein Burger King Russia customers will use a mobile app to scan their receipt, where they will then receive a certain amount of Whoppercoins.
The details of this new fast-food coin are still hazy, but the new loyalty program will allow the transaction between burger and coin, where buying one Whopper sandwich will give you 1 Whoppercoin (though there is not yet a set exchange rate). A spokesperson for Burger King Russia stated that the implementation of the Whoppercoin application will still need to go through a “testing” phase, which probably should’ve been conducted at an earlier date.
Russia Changes Its Stance on Cryptocurrencies
This new trend of accepting blockchain technology in Russia comes after years of rejecting the technology and use of digital currencies. Today, it appears that Russia will become one of the early adopters of the blockchain.
The Russian government has now launched major initiatives to embrace cryptocurrencies, including drafting regulations that would legitimize the use of virtual currencies in their local national economy.
The Russian government’s new-found faith in crypto’s has spurred on several Russian companies to adapt the technology into their operations. In June 2017, Moscow-based restaurant Valenok became the first food establishment in Russia to accept Bitcoin by installing a special ATM for exchanging Bitcoins.