NEWS

Is McDonald’s MacCoin a cryptocurrency? Restaurant chain to launch the ‘currency’ soon

The popular restaurant chain, McDonald’s unveiled MacCoin on Sunday, shocking the business world. While a lot of media outlets claimed it to be a cryptocurrency but it’s not. A few months back, Kodak announced that it’s coming with its own cryptocurrency and McDonald’s appeared to be similar especially because, they described MacCoin as the “first fully food-backed global currency”.

As a Fortune report said,” it’s not a Bitcoin alternative.” In fact, it is just a coupon or voucher ‘heavier-than-usual’ for a free burger. Reportedly, McDonald’s is giving out the tokens in 50 countries, at 14,000 restaurants starting from August 2. This step has been taken to commemorate 50th anniversary of the Big Mac.