Burger King launches digital currency WhopperCoin in Russian Federation

Thursday, 31 Aug, 2017

"Therefore, eating [a Whopper] today - a reserve for financial well-being tomorrow", Ivan Shestov, communications director of Burger King Russia, said in a statement.

The deal gives customers the sandwich along with Whoppercoin tokens. "We have well-defined ways for people to search for jobs or apply to positions at Burger King, and that will continue to be open to all who are interested". Burger King is expected to release Android and iOS apps to track collections next month.

WhopperCoin, as the new currency has been aptly named, was launched in Russian Federation earlier this week. CoinIdol said it was launched on the Waves blockchain platform. Then, you can eat and go back to job hunting (I mean, one Whopper isn't going to keep you full forever).

CNBC's Ryan Browne offered more details about Waves, and how the transactions will be powered by Waves' distributed ledger network.

Every 1 ruble (S$0.02) spent on a Whopper burger will earn customers one WhopperCoin, the BBC reported on Tuesday (Aug 29). The crypto-currency is a stand-alone exchange distinct from Bitcoin, so Burger King will be able to shut down trading if they believe the system is being abused. Whoppercoin has already been issued, with a supply of 1 billion (further Whoppercoins can be issued if required).

What causes me the most concern about Burger King's offering is their spokesperson's claim that the WhopperCoin is an "investment vehicle".

Burger King's head of marketing, Fernando Machado, said of the promotion: "We are always looking for ideas which showcase the fact that we flame-grill our Whopper sandwich". The whopper as an investment tool.