Despite controversies surrounding the cryptocurrency, recent news around the digital asset could be very tasty for fast food lovers!
For a limited period of time, KFC Canada garnered attention from local media after the fast food giant announced it is accepting Bitcoin for online orders of the “Bitcoin Bucket.”. The new menu item is a bucket of fried chicken that comes with 10 chicken tenders, waffle fries, gravy, a side, and two dips.
KFC Canada’s limited-time promotion allowed its customers to buy the ‘digitalized meal’ for $20, presented in a bitcoin-themed container demonstrating the price of the fried chicken bucket at the time of the sale. Upon the request of a delivery, KFC embeds the amount of bitcoin equivalent to the price of the bucket of fried chicken onto the container, which can be purchased via Bitpay, a popular Bitcoin payment processor.
KFC Canada presents The #Bitcoin Bucket. Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken. https://t.co/2OKuCHk5Hb pic.twitter.com/UwaduB8toi
— KFC Canada (@kfc_canada) ١١ يناير، ٢٠١٨
The move is a pioneering step forward for retail consumer’s cryptocurrency usage in Canada, which traditionally has been brave to accept and adopt the virtual asset at several levels. And with online takeaway a fiercely competitive market, the opportunities for competition to further spread Bitcoin availability is tangible.
Bitcoin in Canada has been growing popular, and the country’s authorities are expected to officially acknowledge and regulate the cryptocurrency derivatives in the near future.
In the last few months, several providers of listed products have filed preliminary prospectus with provincial authorities for the launch of an actively managed bitcoin ETF. During the process, the British Columbia Securities Commission (BCSC) has granted blockchain startup First Block Capital Inc. its official registration as an investment fund manager, which allows the firm to operate a Bitcoin investment fund.
What is driving this appetite for Bitcoin payments?
It seems that the sharp rise in the price and mainstream adoption of the cryptocurrency has led to a growing number of quick-serve restaurants, bakeries, coffee shops, and bars allowing their customers to pay for their food and beverages via the digital currency.
Many retail services operators believe the bitcoin network is secure and convenient as a payment system, and that it saves them money on credit-card transaction fees.
The notoriety of offering bitcoins is a great marketing move for such stores. Offering bitcoin transactions also allows them to better connect with their tech-savvy customers.