Steemit has done an excellent job of bringing crypto into the lives of main-stream society rather than only being for crypto-nerds and asset traders. We now have people that never would have invested in crypto had they needed to invest their own hard-earned FIAT rather than participating like Steemit has made possible.
There are thousands of people that have converted steem and SBD into fiat and used their earnings to pay their bills, their rent, mortgage, buy food, etc. Several of my family members, and myself included have done this in times of financial instability. Steem to the rescue!
Well, another big thing just happened. In Russia, BurgerKing has announced the release of WhopperCoin!
Every ruble spent on a whopper will reward the customers with 1 WhopperCoin. At the beginning, they state that people will be able to also then purchase whoppers with their WhopperCoins for the amount of 1,700 whoppercoins. The way customers will redeem their whopper coins is as simple as scanning a barcode or QR code on their receipt after purchase.
Based on the current pricing, if customers spent their coins rather than holding on to them as an investment, they'd essentially be able to buy a whopper with whoppercoins for every 5 whoppers they bought with fiat.
I assume, based on how crypto generally works and how volatile it is, and the fact that people will be able to trade and purchase whoppercoins on the open market, that this quantity will increase or decrease as the value of the whoppercoin does so. That has not been mentioned, but it'd make sense.
Based on how this works, other competitors such as McDonalds might also roll out their own cryptocurrencies and hopefully it all goes well and we see it spread outside of Russia, throughout Asia, Europe and all 6 major continents.
I would love to hear everybody's thoughts on this.
Do you think it's going to work? Is it a marketing scheme or a real investment into crypto? Will it grow outside of Russia and will other similar businesses follow-suit and release their own cryptocurrencies? How do you think the fluctuation in value will be handled?