Beer pump: Beercoin cryptocurrency pays drinkers for pints

Drinkers can earn money simply by having a pint of beer thanks to a new cryptocurrency called Beercoin.

The German start-up’s coin can only be mined through a unique code on a bottlecap or bar mat that can be scanned with an app to generate Beercoins.

The crypto can then be spent on booze, merchandise, or exchanged for regular cash.

Founder and CEO Tobias Meyer told German tech news site Crypto Tree: “The end user should be able to easily participate in a cryptocurrency, without having to bring the necessary technical expertise.

“Furthermore, they do not have to expose themselves to speculative risks, but can simply buy a beer.”

The start-up will initially create 77,480,000,000 Beercoins to allow the system to operate for 10 years with 10,000,000 users – a figure calculated using the average German beer consumption.

Beer money

A company mission statement says: “Our goal is quite straightforward: We want to create the beer-based cryptocurrency.

“The beer market is a billion-dollar industry which has not seen many innovations in recent years and is currently decreasing in volume in many parts of the world.

“While the consumer base is shrinking, a lot of new competition in the form of craft beer breweries is trying to find a solid foothold in the market.”

There is also a charitable aspect to the cryptocurrency, which allows users to donate their Beercoin to hard-up boozers.

Mr Meyer added: “The idea behind it is that everyday life is better with a beer after work in good company.

“However, there will always be some poor soul who does not enjoy such a beer after work.

“This person should enjoy a sweeter life if other users donate their Beercoin.”

Another niche crypto Coin Rivet recently reported on is Dentacoin, which caters specifically to dental professionals and patients.