Kentucky Fried Chicken (KFC), has started to accept bitcoin from its customers.
Nowadays, for a limited period, Kentucky Fried Chicken sells a bucket of fried chicken for $20, which was also presented in a Bitcoin-themed container demonstrating the price of the fried chicken bucket at the time of the sale.
During that time, $20 became the same as $0.0011204, and as there was a request for delivery, KFC embeds the amount of bitcoin which is equivalent to the price of the bucket of the fried chicken which is in the container.
Even though KFC Canada does not intend to integrate bitcoin as a permanent and long-term payment method yet, the company has introduced its bitcoin campaign, to address the rapidly increasing demand for bitcoin and the cryptocurrency market in general.
Kentucky Fried Chicken Canada used the method to put in effect one unique campaign, which involves the fastest evolving technologies and forms of money in bitcoin. That approach became a success massively, as the company has also acquired some significant mainstream exposure from the media, as well as social media structures like Facebook and Twitter.
The consumers of KFC can use BitPay’s payment processing service during the limited offering of bitcoin-themed fried chicken buckets, to purchase the significant KFC fried chicken with bitcoin.
The bitcoin-themed bucket of the fried chicken from the container costs just over $27 in total, which includes the $20 price of the bucket itself, taxes and shipping fee. Inclusive of bitcoin transaction fees that are averaging at around $5 on significant blockchain wallet platforms, such as Blockchain and Trezor, the KFC bitcoin-themed fried chicken bucket costs over $30.
According to the current state of the Bitcoin network, as well as to its underlying scalability problems, it will be difficult for any large-scale commercial fast food chain to accept bitcoin as a payment method. But, in the future, the integration of the second-layer solutions could allow restaurants to enable bitcoin payments if transactions fees can drop below $1.
Second-layer and off-chain scaling, which include Lightning and Ethereum’s Plasma, actually can process near-instant payments with significantly low fees. As such, in the long-term, fast food conglomerates, such as KFC accepting cryptocurrencies as essential payment methods is a possibility.
McDonald’s and OmiseGo
McDonald’s Thailand made a partnership with OmiseGo during the previous year, as well as with the Ethereum blockchain-based payment processing platform, to process payments of McDonald’s online orders, using the immutable blockchain network of Ethereum.
McDonald’s Thailand is already processing large volumes of credit card payments on the OmiseGo blockchain network. With the integration of McDonald’s Thailand of OmiseGo, the company may have the ability to seamlessly combine cryptocurrency payment methods, if the company decides to cope with the developing adoption of bitcoin investment, as well as Ethereum and other different digital currencies.
Jun Hasegawa, CEO, and Founder of Omise said:
The experience of the consumer stars right when they place the order online, and payments are a critical component of that experience. Offering highly secure, as well as seamless payment options across all of the platforms, as well as devices, is the key to delivering a seamless experience of McDonald’s customers.
The adoption, as well as integration of blockchain technology by fast food chains, such as KFC and McDonald’s will increase the awareness of millennials in bitcoin and cryptocurrencies drastically, which have evolved into a major asset class.