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article imageA bitcoin in your happy meal? Startup makes this a reality

By Tim Sandle     Sep 10, 2017 in Business
A Siberian based company called DSPlus is aiming to introduce the use of bitcoin in exchange for fast food. The company is working with major players like McDonald’s and Burger King.
To date, DSPlus has signed up over 1,500 vendors. As well as established fast food giants the company is also working with Adidas and Reebok. The aim is provide regular customers of these companies loyalty points via blockchain-based tokens, such as Bitcoin. These tokens can then be used to buy meals or be redeemed for cash over a mobile app.
DSPlus is based in Irkusk, Russia. In a pilot study, already some 150,000 customers are trading their loyalty program points for cash. Based on this DSPlus is raising money so that the scheme can go international. The strategy is to launch in Europe first followed by the U.S. For this process, DSPlus are set to launch an Initial Coin Offering with the aim of to raising $100 million over a 60 day period in order to fund the expansion. The scheme launches on September 10, 2017.
For this DSPlus are being advised by ICOBox (a leading provider of box solutions for conducting coin offerings). To companies like DSPlus, ICOBox provides technical, legal and marketing services.
The launch is being called the “People’s Crypto Money” (with the term First PlusCoin being used to describe the cryptocurrency). As well as major brands, the system can work with smaller companies as well. Already in Russia, several of Russian businesses, including supermarkets and consumer electronics chains are part of the scheme. The strategy fits in with a growing trend towards incentive marketing, which many companies see as essential for securing brand loyalty. Many companies now realize that using the legacy product – the discount voucher or coupon – is receiving lower take-up and doesn’t help a company stay competitive, especially in the more competitive sectors.
Commenting on the initiative, Mike Raitsyn, who is the CEO of ICOBox CEO told Venture Beat: “PlusCoin gives ICOBox a unique opportunity to help international brands open a new chapter in incentive marketing by marrying blockchain and traditional brick and mortar business promotion.”
The technology entrepreneur added: “ICOBox is thrilled to help DSPlus direct its explosive growth across international markets.”
Longer-term DSPlus aims to launch a number of new products, including one for financial services partners. This would mean PlusCoin token holders could get a credit rating within PlusCoin ecosystem, and consequently become credit-worthy.
For related cryptocurrency news, Digital Journal has featured the launch of a digital currency for dental services. Here people can review dental services in exchange for Dentacoins, which can either be cashed in or used to pay for future dental services. See: “Paying dentists with cryptocurrency is happening.”
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