- WHITE PAPERS
Domino's Pizza has joined a new online startup, Pizzaforcoins.com, that allows consumers to buy a pizza using their virtual currency, also known as Bitcoins.
According to Geek.com, customers place their orders on Pizzaforcoins.com. Then, site owners Matt Burkinshaw and Riley Alexander collect their virtual currency and place the delivery order on their behalf using real cash.
As of this week, a large, hand-tossed pizza was available for 0.50 Bitcoins, or about $12.
According to the story, Domino's is not actually involved in the project; it is simply the first chain that is available for the swap. The Pizzaforcoins.com website claims that Pizza Hut and Papa John's will be added soon.
According to a follow up story by the BBC, the two programmers set up the middleman service to increase the use of digital cash, and to add convenience for customers who may not have real cash on them. Adding that extra step, however, can delay an order, the site's founders warn.
Bitcoins first appeared in 2009 and are linked to a global network of computers that supports the currency. The network's users earn the coins by participating in the network. The bitcoin has become more widely used as an alternative payment method. One bitcoin is worth about $26.
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