Using Bitcoin to Pay For Starbucks?

August 6, 2018 – Thanks to a company named Bakkt, Bitcoin can soon be used to pay for Starbucks!

As the world is gradually acknowledging the innovation brought about by blockchain and cryptocurrency, several companies such as Starbucks, Intercontinental Exchange (ICE), Microsoft and BCG; are now making the move in launching a company named Bakkt.

With Bakkt, they aim to enable consumers to more freely use Bitcoin and other cryptocurrencies as another form of currency when compared to traditional fiat money. Alongside this development, Bakkt also targets to utilize the Microsoft cloud in being able to create “an open and regulated, digital asset.”

This development will surely give a major boost to the liquidity, not to mention the price, of Bitcoin and other cryptocurrencies. Soon, it will then catalyze and enable the mainstream use of this new and global form of currency, considering the very popular and mainstream status of the company of Starbucks.

Having a forward mindset, Starbucks released the statement: “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.”

“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.” -Starbucks

According to ICE, Bitcoin is seen to be the most liquid digital currency today. Through the recognition of companies such as ICE, this will further increase the ETFs (exchange-traded funds) of Bitcoin on stock exchanges.

According to Jeffrey Sprecher, founder, CEO, and chairman of ICE, “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.”

“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.” -Jeffrey Sprecher

Bakkt is currently undergoing the final preparations for launch and more details would be disclosed through the following weeks. -Decentrist

An experienced journalist and a crypto-curious writing to educate others about blockchain and Fintech.