Wendy’s fast food restaurant and 600 different vendors will now accept the digital currency Shiba Inu (SHIB) as an acceptable form of payment in the US state of Georgia..The crypto platform Binance announced a partnership Binance Pay and CityPay.io, a crypto gateway in Georgia. Therefore, holders of the cryptocoin can now spend it at major hotels, restaurants and supermarkets. .SHIB, a so-called "meme coin" launched in August 2020, quickly gained in popularity thanks to the lovability of its dog mascot and the support of Tesla CEO Elon Musk and Ethereum creator Vitalik Buterin. The coin reached an all-time high of $0.000079 before calling back to a valuation of $0.000011..But Dave Bradley, CRO of Edmonton-based Bitcoin Well, said SHIB is a "elaborate scam" when compared to Bitcoin. "Essentially, the entire goal of SHIBA is to sell to people who don't understand anything about SHIBA. It's literally just a scam to separate people from their money.".Bradley said many altcoins have attempted to market themselves as competitors to large payment processors, but they are "just not." He said narratives around crypto projects partnering with banks and companies have been going on since 2016, but none have come to fruition..Bradley doesn't anticipate cryptocurrencies replacing payment processors like Visa, MasterCard and Apple Pay. And he said since most people use cryptocurrencies like Bitcoin as a store of value to opt out of inflation, it's unlikely they will want to use them to buy "burgers and fries."
