Fast-food chainBurger King launches its own crypto-currency, called WhopperCoin, in Russia

Customers will be able to claim one coin for every rouble (1.3p) they spend on the Whopper sandwich.

Russians will be able to buy a Whopper with the virtual cash, once they have amassed 1,700 whoppercoins. The company said it would release Apple and Android apps next month so people could save, share and trade their wallet full of whoppercoins.

The move showed that the use of digital currencies in Russia continues to grow as the fast food giant announced its interest in accepting Bitcoin payments. Based on a local report, the chain restaurant has issued one billion tokens on the platform, writes cointelegraph.com.

The purpose of the issuance is not yet very clear. One possibility is that the digital coins will be used by the company as a means to pay or monetize the loyalty points earned by its customers. For instance, customers could scan their receipts using the Burger King mobile app and receive the tokens in exchange.

Use and abuse
Burger King has partnered with crypto-cash start-up Waves to create and run the scheme. The tech company will run the blockchain ledger for the coin to keep track of who has coins and what has been done with them. Customers will be able to claim their coins by scanning a receipt with a smartphone.

The crypto-currency is a stand-alone system that has some technical similarities to Bitcoin but is distinct from it. This means the company would be able to shut the system down if it found it was being abused.
In a statement, Waves said that it had already generated 1bn whoppercoins to use in the loyalty scheme.
The current cost of a Whopper in Russia suggests customers will be able to get a free sandwich for every five or six they buy with real money.

Source: BBC