Proving the incredible power and desire to adopt the blockchain, companies are moving to incorporate it into their brands and it is having incredible results. In December, the Long Island Ice Tea Company rebranded itself as Long Blockchain—sending their stocks through the roof—seeing it triple in value. Now, an affiliate of the popular Hooters 'family' restaurant has just experienced similar success.
The stock market apparently loves the blockchain.
Chanticleer Holdings, a franchisee, investor, and minority shareholder of Hooters of America saw its stock soar by 50 percent after the company announced that it would be moving its reward programs to the blockchain.
As Ars Technica reports, Chanticleer Holdings owns a number of different brands, most of them burger-related. These include Little Big Burger in the Northwest, American Burger Co. on the East Coast, and the national BGR chain.
"Eating a burger is now a way to mine for cryptocoins," said Dennis Becker, CEO of Mobivity, the company that's helping Chanticleer jump on the cryptocurrency bandwagon. "Every meal enjoyed at any Chanticleer Holdings brand will accrue currency for the consumer that can be used for future meals or traded with other consumers."