Burger King Russia recently announced the launch of their very own cryptocurrency, WhopperCoin. The WhopperCoin is a cryptocurrency-based loyalty program rewarding those in Russia who frequent the global burger chain.
How Does WhopperCoin Work?
As customers purchase Whopper Sandwiches at Burger King restaurants in Russia, they will be eligible to receive WhopperCoins. These WhopperCoins will then go into their digital wallet, where they are able to be redeemed for a free Whopper after the accrual of 1,700 WhopperCoins, according to a post on Burger King Russia’s website.
These coins can also be bought and traded through Waves’ distributed ledger networks. The blockchain platform allows for the issue and transfer of coins, as well as, to be traded on a peer-to-peer exchange.
The King has gone #Cyrpto@BurgerKing launches #WhopperCoin in #Russia
Customers can claim one WC for every rouble they spend on a Sandwich pic.twitter.com/bkMLUCg955
— Coin Reviews (@CoinReviewsIO) August 30, 2017
Investment vs. Reward Program
Burger King hopes that customers will see the program as more than just a loyalty program. They hope customers will see it as an investment, as the popularity of cryptocurrency continues to increase rapidly. Burger King Russia’s Communications Director, Ivan Shestov wants customers to see the program as not eat a Whopper today and get a reward, but rather, eat a Whopper today and invest in the future.
According to a post on CNBC, Burger King is in the process of developing and releasing an app for WhopperCoins which will be available through both Apple Store and Google Play. The app should be available in the next month.
Currently, the tokens are only available to Russian customers but soon could make their way over to the US. Russia has previously had strict regulations in regards to Bitcoin, even suggesting that those who use Bitcoin could face potential jail time. However, recently, Russian leaders like First Deputy Prime Minister, Igor Shuvalov, have voiced their support of cryptocurrency.
As other countries jump on board with cryptocurrency, and the anticipated drastic increase in value, Burger King hopes to capitalize on this and bring WhopperCoin to their restaurants around the globe. Burger King currently operates restaurants in over 90 countries across the world.