Bitcoin and blockchain are not only helping people get rich fast, they are also aiding companies in their PR and marketing efforts. Suddenly if you want media attention, a company should just add “blockchain” to its name or introduce a related offering and voila — all the media around the world will be talking about it.
Just the other day we’ve talked about Kodak and its KODAKCoin cryptocurrency which has yet to produce any tangible results, but has nonetheless helped the company’s stock double in price following the announcement.
The fast food industry is not immune to this trend, and today we bring you the story involving KFC Canada…
KFC Canada introduces the Bitcoin Bucket
For a limited time, the fried chicken chain KFC Canada is accepting bitcoin payments for a special, cryptocurrency-themed bucket of chicken called “The Bitcoin Bucket,” which includes 10 original recipe tenders, waffle fries, med side, med gravy and 2 dips.
The new product is being heavily advertised on social media and even has its very own Facebook-based live-tracker of the standing price for the product. Right now, it costs roughly 20 Canadian dollars depending on the exchange rate with bitcoin, plus $5 for shopping.
So no, this product is not available in KFC restaurants; rather, the company will only accept online orders — in partnership with BitPay — and deliver the goods to your doorstep.
What’s more, according to the company’s rep, KFC may add support for additional cryptocurrencies in the future, so at one point we may get the “Ethereum Bucket,” as well.
Sounds like a plan, but so far the offering hasn’t moved the stock price of Yum! Brands, which is KFC’s parent company.
I guess that more established companies need other things to see their stocks rising.
Burger King has the WhopperCoin
KFC is not the only company playing with “crypto ideas.” In August 2017, Burger King Russia introduced its own virtual currency, the WhopperCoin, which is used to power the company’s blockchain-based loyalty program.
Under that scheme, customers received one WhopperCoin for each ruble they spend in-store, and once their WhopperCoin count hits 1,700 — they can redeem them for a free burger.
At the time of the announcement, Burger King Russia said that only 1 billion WhopperCoins will be created and distributed, making for a restricted monetary policy a la Bitcoin.
“Now, [the Whopper] is not just a burger, which is loved in more than 90 countries, but also a tool for investment,” Ivan Shestov, communications director of Burger King Russia, said at the time. “Experts predict a rapid increase in the cost of cryptocurrency. Therefore, eating [a Whopper] today — a reserve for financial well-being tomorrow.”
Although, WhopperCoin was introduced in Russia, we expect it to hit other countries around the world, as well. And the same goes for KFC’s Bitcoin Bucket initiative — it is a common sense to spread out these sort of campaigns.