McDonald's launches its own food-backed currency, knows about McCoin

One of the most famous fast food chains in the world is causing a sensation because of its latest launch, and it is not a new hamburger but its own currency backed by food.

McDonald's is celebrating the 50th anniversary of one of its most iconic products, the Big Mac and, to celebrate, have launched the McCoin, a coin that can be exchanged for the famous hamburger.

From August 2, at McDonald's in more than fifty countries, and until the end of 2018, customers can exchange their McCoins and get free Big Macs in return.

McCoin can not be used outside of McDonald's establishments nor does it have any purchasing power outside of the franchises. It's just a fun advertising strategy to celebrate the anniversary of the Big Mac.

These coins have 5 collectible designs, representing the 5 decades of the Big Mac:

The 70s: evoking the power of the flower of the decade.
The 80s: referring to pop-art.
The 90s: decorated with abstract and bold shapes.
The 2000s: showing the technology that was at the forefront of the turn of the century.
The '10: calling attention to the evolution of communication.
Why a coin to celebrate the birthday of a hamburger?

The Big Mac has played an important role in the international economy. Since 1986, The Economist created the "Big Mac Index", which is a way to measure the purchasing power of different countries by comparing the price of these hamburgers.

That's why McDonald's CEO Steve Easterbrook said the McCoin would be a fun way to take advantage of it. "They use it to this day. Why not have fun with that? Create our own currency, "said the businessman, according to CNBC.

Is McCoin McDonald's cryptocurrency?

With the rise of cryptocurrencies and the great popularity they have obtained, it is common for people to associate anything that ends in "coin" with a digital currency. However, it is important to clarify that McCoin is not a cryptocurrency .

The cryptocurrencies are made up of encrypted data, based on Blockchain. They are digital currencies that have an equivalent value to other common currencies, that is to say, Bitcoins can be exchanged for dollars, euros, pounds, yen, etc.

The McCoin is just an advertising strategy, which has no value outside of McDonald's and is not an encrypted currency. In fact, it is a physical coin with collectible motifs to celebrate the 50th anniversary.