[2019-5-13] Bitcoins for Frappuccino: Will Starbucks’ Crypto Endeavours Pave the

o_e_l_e_o

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Quote from: manyexp on May 12, 2019, 08:47:21 PM

The United States coffeehouse chain Starbucks is one of the most mainstream companies to look into crypto, and its intentions have finally been confirmed this week: The company has teamed up with Microsoft to track its beans with a blockchain.

Crypto and blockchain are not the same thing. We could create a blockchain to track every raw material production, every supply line, every manufacturing process, every product, every shipment, everything, and it could have exactly zero effect on bitcoin's price. The majority of blockchain's applications in the real world are not crypto-related. Tracking their beans with a blockchain doesn't mean they are "looking in to crypto".

As it turns out, they are looking in to accepting bitcoin payments, but that has nothing to do with using blockchain technology elsewhere in their supply line.

gentlemand

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Quote from: Harlot on May 13, 2019, 12:21:48 PM

The more probable approach that Starbucks will do is they'll accept Bitcoin payments in order to load up your Starbucks card which is being done via Fiat currencies or Debit Card. This might be the likely way they "accept" Bitcoin payments without restructuring their current payment setup with their Starbucks cards which a lot of people are mostly using in their transactions, plus regular customers know that they do receive some more rewards when they are using their cards to pay their orders.

Keep on top of that news, baby.

https://twitter.com/ForbesCrypto/status/1127953468612759552

https://www.forbes.com/sites/michaeldelcastillo/2019/05/13/starbucks-nordstrom-and-whole-foods-now-accept-bitcoin-just-dont-ask-them/?ss=crypto-blockchain#7dfae15d2252

Gemini have teamed up with a joint named Flexa to allow Starbucks and a few others to accept crypto. Things move quick.

Harlot

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The more probable approach that Starbucks will do is they'll accept Bitcoin payments in order to load up your Starbucks card which is being done via Fiat currencies or Debit Card. This might be the likely way they "accept" Bitcoin payments without restructuring their current payment setup with their Starbucks cards which a lot of people are mostly using in their transactions, plus regular customers know that they do receive some more rewards when they are using their cards to pay their orders.

Bezobraznike

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Quote from: 1Referee on May 13, 2019, 05:25:28 AM

Quote from: manyexp on May 12, 2019, 08:47:21 PM

Moreover, reports say that the coffee giant might start accepting bitcoin (BTC) payments in its U.S. branches later this year.

That's false. The only thing they might end up doing when Bakkt is live, is to have Bakkt convert the coins in your account to fiat, then push the fiat to Starbucks.

Quote from: manyexp on May 12, 2019, 08:47:21 PM

So, is the long-awaited mainstream adoption finally coming to the crypto market?

Uh, no. Bitcoin doesn't need Starbucks, it's the other way around. Starbucks needs the publicity by marketing itself with very popular terms as Bitcoin and blockchain.

Don't understand how people consider this to be the path to adoption. They haven't ever built or done anything to make Bitcoin or basically any other crypto better. Roll Eyes

It is nice that there is someone who can correct the news and stop people's confusing.

Quote from: 1Referee on May 13, 2019, 05:25:28 AM

Uh, no. Bitcoin doesn't need Starbucks, it's the other way around. Starbucks needs the publicity by marketing itself with very popular terms as Bitcoin and blockchain.

Also very interesting point of view with which I am totally agree.
Starbucks use crypto just for attention attracting and it doesn't change the situation on the crypto market generally. The other story would be if all chain would do the same all world round, but I guess they just can do that, because of the law about crypto is different in different countries.

1Referee

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Quote from: manyexp on May 12, 2019, 08:47:21 PM

Moreover, reports say that the coffee giant might start accepting bitcoin (BTC) payments in its U.S. branches later this year.

That's false. The only thing they might end up doing when Bakkt is live, is to have Bakkt convert the coins in your account to fiat, then push the fiat to Starbucks.

Quote from: manyexp on May 12, 2019, 08:47:21 PM

So, is the long-awaited mainstream adoption finally coming to the crypto market?

Uh, no. Bitcoin doesn't need Starbucks, it's the other way around. Starbucks needs the publicity by marketing itself with very popular terms as Bitcoin and blockchain.

Don't understand how people consider this to be the path to adoption. They haven't ever built or done anything to make Bitcoin or basically any other crypto better. Roll Eyes

CryptoBry

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Quote

As many mainstream companies, Starbucks leans toward the “blockchain before bitcoin” approach

I think this can be a better approach. Let them experience the benefits of the blockchain technology first and then encourage them to adopt Bitcoin as one of their primary tool accepting payments for their products and services. Will Starbucks be a big help towards mainstream adoption? Maybe or maybe not but the most important thing is that consumers are given a good choice to join the Bitcoin bandwagon and have the firsthand experience in using cryptocurrency. Now, I am hoping that Starbucks make sure that the infrastructure they are using are reliable otherwise customers can be dismayed. In addition, let's hope that there will be a critical number of Starbucks fans who will avail of the Bitcoin facility.

manyexp

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Bitcoins for Frappuccino: Will Starbucks’ Crypto Endeavours Pave the Way for Mainstream Adoption?

The United States coffeehouse chain Starbucks is one of the most mainstream companies to look into crypto, and its intentions have finally been confirmed this week: The company has teamed up with Microsoft to track its beans with a blockchain.

Moreover, reports say that the coffee giant might start accepting bitcoin (BTC) payments in its U.S. branches later this year. So, is the long-awaited mainstream adoption finally coming to the crypto market?

As many mainstream companies, Starbucks leans toward the “blockchain before bitcoin” approach

...

Read More : https://cointelegraph.com/news/bitcoins-for-frappuccino-will-starbucks-crypto-endeavours-pave-the-way-for-mainstream-adoption

Topic: [2019-5-13] Bitcoins for Frappuccino: Will Starbucks’ Crypto Endeavours Pave the (Read 191 times)