McDonalds and Crypto

I was watching TV the other day, something  don't do often. I don't even own one, but I had a little revelation when watching this McDonalds add that was airing in NewZealand last year. The add really didn't present loose change in a positive light.

The two chummy guys scrounged some coins and crumpled up notes onto the counter along with some lint, an awkward smile and an eye role from the attendant. They we're extremely stoked to be able to swap such junk for an edible cheeseburger.

This is when it dawned on me. McDonalds as an international mega company probably spends millions on bank fee's and cash handling costs. I looked it up online but couldn't find out exactly how much McDonalds spends. they probably don't even know, but I did find this on average EU transaction costs;

"On average, debit card transactions cost the retailer 9p each, or about 0.2% of the bill. Credit card transactions typically cost much more, at around 0.9%."

With Bitcoin those costs can be zero. But 0.001% if you do the normal thing and source your transaction confirmations from other peoples mining computers and want it done quickly.

The revenue of McDonalds internationally is insane, who knows what it is, but the head franchise does $27.5Billion, so at 0.2% they could save $55million dollars a year. I have a feeling those greedy old capitalist will find it difficult to say no to that. 

They are implementing digital ordering systems, ordering on ipads. The next stage must surely be digital currency which would load straight onto that system. This would save them millions with time saving at the counter and with eftpos terminal costs, let alone fees from banks.

So its all really quite inevitable. Companies like this do not care how they get paid as long as they get it. They are cut throat and the less they have to pay the better. That's why you'll be seeing punks pulling up to McDonald's in denim jackets and Bitcoin bought Lamborghini's and spending their Bits on guilty pleasures, quickly before their Vegan friends see.