Posted by on August 27, 2017 12:05 am
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Categories: Alternative currencies Bitcoin BitPay Blockchains Business Cryptocurrencies Digital Currencies Economy Finance Human Interest Legality of bitcoin by country or territory money Russian government Technology Vladimir Putin

In what we believe to be a first for the global fast-food industry, Burger King Russia has reportedly created a virtual currency called the “Whoppercoin.”

The company has reportedly issued one billion of the tokens using the Waves blockchain platform. According to Fortune, the coin was launched alongside a new loyalty program: For every Whopper purchased, customers will receive one Whoppercoin. However, it’s unclear if the company will accept the digital tokens as payment.

“The Whoppercoin launched in tandem with a new loyalty program. For each Whopper burger customers purchase, they’ll receive one Whoppercoin in a special cryptocurrency wallet. While the coins’ wider use is unclear, some reports suggest that the Whoppercoin will be accepted as payment at Burger Kings across Russia.”

Burger King’s decision comes amid a thaw in Russia’s posture toward digital currencies. After initially threatening to jail digital-currency users, the Russian government is reportedly considering legislation to legalize digital-currency payments. Earlier this month, an aid to Russian President Vladimir Putin announced that he would be seeking to raise $100 million to build a large bitcoin-mining operation with the goal of eventually claiming 30% of the bitcoin network’s hashing power.

The Whoppercoin was officially introduced on Aug. 22. Its introduction followed reports earlier this summer that Burger King Russia was planning to start accepting payment in bitcoin.

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