Russian Burger King soon to accept Bitcoin
No, this isn't some strange unrelated "burger king". This is the real one, in Russia.
As more real-world businesses start to adopt cryptocurrency, even Burger King has considered the option. I'm sure it'd be better if they just accepted STEEM or Litecoin, or maybe even GOLOS, but Bitcoin is a start.
"The main difficulty is tax issues, rather than integration ... You'll be able to pay with cryptocurrency in the future", - said General Director of "Burger King Russia" Dmitry Honey.
On the 10th of August, Burger King Russia will be announcing the winner of their request for tender - after reaching out for companies to provide them a good Bitcoin payment solution in-store and possibly online.
Maybe they'll get tired of the long confirmation times, and someone will tell them about STEEM. Fast food isn't so fast when you wait 1 hour for 1 confirmation on Bitcoin.
It's unknown whether they will expand Bitcoin payments to other parts of the world, Burger King is a large multi-national corporation, and many of the regional companies operate rather autonomously (have you seen the strange food items they sell in Japan for example? Image above of the dark burgers they sell in Japan).
It could be that this stays in Russia, it could be that Bitcoin is a massive flop and they just drop it, maybe they'll try some other cryptocurrencies, or maybe it'll be so successful they start to roll it out across the world.
Source 1: https://ria.ru/economy/20170628/1497432428.html
Source 2: http://www.newsbtc.com/2017/06/28/burger-king-russia-will-enable-bitcoin-payments-later-year/
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More and more companies accepting the crypto. I bet the banksters are getting mad. This is a huge game changer. Burger king is a massive corporation. But what we really need is that small to mid companies and stores start to accept cryptos. Thats where the real money is.
Perhaps it's good that the big guys adopt it and prove the market at the same time the smaller and mid-sized ones do it. When the big guys catch on, I bet that's when you'll see a lot more adoption. Especially if the big guys can figure out a way to circumvent fees etc. that are charged by some of the card/processing companies.
Black cheese.
I honestly think that this is the way that the world is going. In the UK, we have contactless payments (I don’t know if this is available in other countries). It allows us to pay for shopping that is under £30 by placing our card ‘around’ the card reader.
Contactless payments in my eyes seem ridiculously insecure for the time that we are in. Crypto currency has to be the way to go, and I’m surprised it hasn’t taken off sooner!
I mean damn, I forgot the recovery password to my Bitcoin wallet, and I was forced to wave that money goodbye, With no hope of rescuing the wallet. Now that is what I call security!!
Actually contactless payments are more secure than you think. In some cases they're more secure than Chip&Pin and especially magstripe.
Contactless payments make a one-time transaction with the merchant. They cannot bill you in the future if you use contactless.
The only information you can get from a contactless card without being an actual authorized merchant is the card number and expiry date. Nothing else. Those details are pretty much useless without your name and the CVV code.
Compare this to Magstripe, which gives away all of your details permanently to the merchant, or chip&pin which can also be used to authorize future payments, not just one-time.
While I'm an advocate for cryptocurrency payments, the FUD around contactless is irritating. Contactless payments are actually closer to cryptocurrency payments than any other method, simply because they're one-time authorizations.
There have been no known cases of contactless fraud in the UK, it's practically a myth. If you're seriously concerned, all you need to do is get an RFID-proof wallet, I believe you can even just line your wallet with tinfoil and it becomes practically impossible to grab any details.
Disclaimer: I do not work for any banks, VISA, or Mastercard. I pay for almost everything online with cryptocurrency where possible, however in-person almost everything is paid for with my contactless cards. In the years of me having several contactless cards, with a normal leather wallet (not RFID-proof), I have never experienced any form of fraud on those cards. Even when going through busy areas such as Manchester Picadilly and London Victoria/Euston.
Thank you for your reply. I understand your point of view, and yes, in that respect Contactless is a lot safer.
I use contactless where ever I can, purely because I cannot trust ATM's or other peoples eyes whilst I am at the checkout.
contactless payment have been around for awhile and it's certainly not something new. If we could use a different sort of payment, ie. bitcoin or eth for cross-border purchases, that will fundamentally change the game of economics. Imagine checking your phone on the internet, realizing that a TV cost 200 bucks cheaper (assuming same quality and brand) in asia due to differences in currency fluctuation.
Business owners who are not taking advantage of technology will soon find themselves going out of business.
That's exactly it ! I have a friend over in the UK too and he's been using that card . Also that same friend introduced me to steem and said to me : " boy , this is going to be a new industrial revolution ".
I Guess that includes how you want to pay for it too :))
Nice
Great news and thanks for sharing!
Anyone numbers about Revenues in Russia and how many franshises there are?
It would be awesome if more countries would follow.
It seems to me that Russia has decided to join the cryptocurrency movement instead of fighting it. Good for Russia :)
Great news! Slowly, but surely cryptocurrency is going mainstream! Thanks
Lol, I wrote an article regarding this about three hours ago @goldkeys. I'm on the right track, great post.