Starbucks, Microsoft, BCG – What’s The Connection?

This article was published on: 08/6/18 5:14 PM

Marcelina ŁukaszewiczWritten by | cryptocurrency, news

Starbucks, Microsoft, BCG - What’s The Connection?

Starbucks is one the most popular coffee shops all over the world. Known as a place for hipsters or fashion bloggers, it attracts coffee lovers.  

Starbucks and crypto industry

Somehow, the company was never able to avoid the connection with cryptocurrency topics. First, the brand had to handle the PR crisis connected with hijacked computers to mine Monero which were connected to public WiFi in one of the coffee shops in Buenos Aires.  Then, after few months Starbucks Executive Chairman Howard Schultz admitted that he sees the potential in cryptocurrencies as a payment method adding that Starbucks may be the first company with the application with cryptocurrencies.

Bakkt – new solution

Now, Starbucks will become one of the companies which will help to set new regulated “Bitcoin futures contract and warehouse company”. The contract is planned for November 2018 and the company will be the central retail partner.

Apparently, Intercontinental Exchange is going to launch Bakkt. It will use cloud solutions of Microsoft in order to create “an open and regulated, global ecosystem for digital assets”.

The main three partners of Bakkt will be Boston Consulting Group (BCG), Microsoft and Starbucks.

Maria Smith, the vice president of partnerships and payments for Starbucks, commented:

“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.
As a leader in mobile pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.”

The first use of Bakkt’s ecosystem will be trading and conversion of cryptocurrencies (Bitcoin) into fiat currencies.
Jeffrey Sprecher, founder, chairman and CEO of Intercontinental Exchange, said:

“In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets.”

Bakkt is during the preparation for a launch. Check our information portal Blockchain24.co where we are going to inform about further details of the cooperation.

Google Nonprawich / Shutterstock.com

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Last modified: August 6, 2018

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