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Burger King has launched its own digital currency called 'WhopperCoin'

Posted by $ CBJ 6 years, 8 months ago to Economics
14 comments | Share | Flag

This sounds like something for the humor section, but it really isn't. If this idea spreads, it will spawn a market in numerous private cryptocurrencies. Think of them as tradable coupons. If you don't want to redeem your loyalty "points" at the store that issued them, you can sell them for cash or trade them for "points" to use at another store that issues them. An added bonus is that the introduction of cryptocurrencies in a retailer's "rewards" program will begin making the general public familiar with the use of cryptocurrencies, which most people shy away from today.

All Comments

  • Posted by $ CBJ 6 years, 8 months ago in reply to this comment.
    I think they're more like airline "miles" that can easily be bought, sold, traded or gifted. No paper involved as far as I know.
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  • Posted by LibertyBelle 6 years, 8 months ago
    Is this some kind of paper coupon, or is it some sort of thing over the Internet, which can be visible,
    and then, with some click, vanish into the void? Ex-
    cuse me, but I like cash; real cash; physical cash,
    that can be held in the hand, and even sometimes jingle and rattle. And if that makes me an anachronism, too bad.
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  • Posted by $ CBJ 6 years, 8 months ago in reply to this comment.
    By itself, that's true. But if WhopperCoins become easily tradable for cash or other digital currencies, it's a whole new ball game.
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  • Posted by Herb7734 6 years, 8 months ago
    Every other fast food joint has some sort of freebie of this sort. What makes the Russian version different? Nada.
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  • Posted by $ CBJ 6 years, 8 months ago in reply to this comment.
    With Hillary, high taxation and over-regulation would be a given. With Trump, not so sure. Also, it would need to be determined whether crypto backed by what amounts to discount coupons meets any legal definition of "money".
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  • Posted by $ CBJ 6 years, 8 months ago in reply to this comment.
    The main difference appears to be that crypto loyalty points will be easily tradable for cash or points that can be redeemed at other retailers. Also, at least one project is aimed at creating "universal" loyalty tokens that increase in value over time (like Bitcoin is currently doing). https://bravenewcoin.com/news/bitscan...
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  • Posted by Ben_C 6 years, 8 months ago
    I just can't wait until the idiots in Congress realize there is a money stream that is not taxed. Should be very interesting rhetoric from the swamp.
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  • Posted by jimjamesjames 6 years, 8 months ago
    My "loyalty" is price. Right now, two Whoppers for $6. And works for my diet. Two a day satisfies me and only about 1400 calories........ When they go back up, no more Whoppers.
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  • Posted by wiggys 6 years, 8 months ago
    i don't mean to be rude or offend anyone but wouldn't it be more appropriate in Italy.
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  • Posted by scojohnson 6 years, 8 months ago
    How is this any different than a free drink at Starbucks after I buy a few with my app??
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  • Posted by RobertFl 6 years, 8 months ago in reply to this comment.
    Basic Attention Token. If you want free browsing, then you watch ads, if you watch ads, you get rewarded. If you don't want to watch ads, then you pay to not see them. Value for Value, win-win.
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  • Posted by $ CBJ 6 years, 8 months ago
    The whole “loyalty points” marketplace could be revolutionized. Here’s one example of what might come to pass:

    https://bravenewcoin.com/news/bitscan...

    “The system is built around a universal loyalty token, which is designed to increase in value with adoption. The token is both spendable cash and an attractive investment to hold in the medium-to-long term. . . Incent tokens give consumers the freedom to decide whether to spend them with the original retailer, other retailers using the system, or sell them an exchange for cash or other digital currencies.”
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  • Posted by freedomforall 6 years, 8 months ago
    Discount coupons have been for sale on Ebay for years. Too bad they are traded for statist monopoly fiat. Is there an Ebay clone for exchanges of goods and services?
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