Burger King Launches Their own Cryptocurrency Called Whoppercoin
Fast-food giant Burger King has launched its own crypto-currency token, called Whoppercoin on the Waves platform. Named after the brand’s flagship burger, Whoppercoin is Burger King’s attempt at using cryptocurrency to power their rewards program. What’s unique about this approach is that unlike traditional rewards programs, Whoppercoin tokens can be stored online, traded or even transferred thanks to the Waves platform upon which this is running.
For people getting excited about mining this “Burger coin”, unfortunately there is no way to do so as the tokens that are managed by the Waves platform have already been generated. Customers will receive one Whoppercoin for every ruble they spend (1 RUB = 1.09 INR), and a Whopper burger can be redeemed for 1,700 Whoppercoins. At current prices, customers will be able to get a free burger for ever 5-6 burgers they purchase.
What is Waves Platform?
Waves is a decentralized financial trading platform written in Scala that is built on its own Blockchain. Wave’s main feature are these ‘Custom Application Tokens’ (CATs) which enable other organisations to create their own tokens like Whoppercoin. They really simplify the whole process of creating custom tokens as all of the overheads of maintaining and securing a blockchain are abstracted away through the Waves Blockchain. And so these tokens can represent any value they want without worrying about the low-level details of implementing a Blockchain.
Waves currently sits at around $528 million Market Capitalization having reached an all time high of $650 million back in June. At the time of publishing this article, prices of waves was $5.28 .
The platform has been around for over a year, has a lot of community involvement and if continues to create solid partnerships like it did with Burger King, it could be one the most promising long term crypto holds.
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