Is McDonald's MacCoin a cryptocurrency? Restaurant chain to launch the

The world's best-known, probably most-hated American fast food outlet is changing but it refuses to change its iconic Big Mac sandwich.

So starting on August 2nd, in tribute to The Economist's take on this particular form of monetary power, McDonald's will be giving out a MacCoin with every Big Mac purchase.

The company is celebrating the 1968 national launch of the double-decker sandwich whose ingredients of "two all-beef patties, special sauce, lettuce, cheese, pickles, onions and a sesame seed bun" were seared into American memories by a TV jingle.

Fifty years after the birth of the Big Mac in western Pennsylvania, the "Golden Arches" is celebrating the double-decker burger's golden anniversary in a big way.

The MacCoin will be redeemable for a free Big Mac at "participating locations" across 50 countries.

According to McDonald's, creation of the MacCoin was inspired by the Big Mac Index, an economic tool used by The Economist that compares the purchasing power of different currencies by using prices of Big Mac in countries around the world. They can use the currency the following day.

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'So we wanted a global celebration as unique as the burger itself.

Believe it or not, MacCoin is not a cryptocurrency. "We think the Big Mac needs to be sacrosanct".

The coin will expire on the last day of 2018, but if you're a true Big Mac lover, we imagine you'll use the MacCoin as soon as possible, right?

Despite the MacCoin's phonetic similarities to Bitcoin, Easterbrook assured Business Insider that the "currency" was purposefully created to be "tangible", in keeping with the Big Mac's meaty tradition.

McDonalds says about 550 million Big Macs are sold annually, so in 50 years that's. um, well. a lot of Big Macs.

So they're launching a Big Mac-backed currency, the MacCoin. Customers can now log online for free at approximately 11,500 participating Wi-Fi enabled McDonald's USA restaurants.

(Copyright © 2015. All Rights Reserved.)
 
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