The American Restaurant Chain Hooters Will Be Using Blockchain Technology in the near Future

Welcome to 2018, where Hooters will be on the transparent and open Blockchain.

It looks like loyal consumers of the Hooters brand will have another reason to go to the chain, they can earn a Hooters-based cryptocurrency.

Mobivity Holdings Corp is working with and Chanticleer Holdings Inc, a company that operates various fast-casual restaurant brands such as Hooters to implement a blockchain-architected platform for commerce and customer communication across brands, to power their groundbreaking cryptocurrency customer loyalty rewards program.

Just as soon as this announcement was made, the price of their stock jumped a crazy 50 percent.

The stock of Chanticleer Holdings Inc, called, BURG, which is currently listed on Nasdaq, has been rise drastically with the announcement and has only corrected slightly afterward.

Reasoning for Blockchain infusion

How does using the technology of the blockchain and integrating it into your customer rewards program (Hooters HootClub), help to maximize the long-term value of the shareholders of your company? Short answer? It probably won’t. In the short term though, companies can almost concretely predict a significant increase in the price of the stock if they speak the magic words of “blockchain.” There have been various companies as of late, like the Long Island Tea company that recently rebranded as becoming a LongBlockchain company who was able to see it’s share prices rises. LongBlockchain was able to witness a 3x rise in its share price. That’s a significant motivator for those that are looking to realize substantial short-term gains. This is a trend that has been happening in the U.S and other countries as of late.

Chanticleer Holdings Comments

Many of these companies continue to maintain the line that the innovation of blockchain can surely add significant value to their consumers and shareholders.

The leader of Chanticleer Holdings, Michael Pruitt, stated:

“We wanted to expand our existing loyalty program with something that really changes the way our customers can leverage their rewards; Mobivity Merit is real cryptocurrency, leveraging the same infrastructure and principles of Bitcoin, Ethereum, Ripple, Litecoin, and more, and will enable our customers to make use of their rewards in entirely new ways.”

These novel use cases may not quickly appear in the mind of the consumer, but the CEO assures the general public that there are different ways that this improves the experience for the consumer.

“Use your Merit mined by eating at Little Big Burger to get a buffalo chicken sandwich at American Burger Co., or trade them with your vegan friend so he can get a veggie burger at BGR. And that’s just the beginning.”

That is an interesting use of the definition of mining. On another note, the ability of one to transfer their rewards to dine at various restaurants that are part of a larger group of a company’s holdings may slightly improve the experience of the consumer. But couldn’t one just use a gift card or something that’s already present?

We’ll have to wait and see what the company has in mind.

By | 2018-01-05T02:15:16+00:00 January 3rd, 2018|News|0 Comments

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