Buy Starbuck’s Coffee with Bitcoin Soon

3 min read

Popular coffee chain, Starbucks will soon allow its coffee addicted customer’s with the option of paying in Bitcoin. Bakkt is a new firm created by Starbucks joining hands with computing giant, Microsoft and New York Stock Exchange’s parent company, Intercontinental Exchange (ICE) which will help this revolution in payments become successful.

 Starbucks has already created a stir with its delicious coffee, pastries and culture which comprises of 27,000 stores worldwide. It was a pioneer in mobile payments which led to food chains across the world starting to utilize the ease of payments through mobiles. This time Starbucks will be aiming to create a revolution of bitcoin acceptance amongst restaurants and cafes around the globe.

The announcement of Bakkt released through an official press release. The CEO of Bakkt, Kelly Loeffler disclosed that the platform is expected to begin operations in November this year and will help bring institutions, merchants and consumers together.

 

The CEO of Bakkt, Kelly Loeffler explained

Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility. “We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce.

Investors of Bakkt are expected to include popular companies such as Fortress Investment Group, Eagle Seven, Galaxy Digital, Horizons Ventures, Alan Howard, Pantera Capital, Protocol Ventures and Susquehanna International Group.

However, Blockchain’s speed is becoming slower, and it’s mining fees are becoming higher which has displayed some negative stances of Starbuck’s adopting the number 1 ranked cryptocurrency in the world.

Twitter user @RipplePandaXRP, who according to the description is an XRP fan ripped the announcement of Starbucks through a tweet-

 

A user on Reddit called SEA-Sysadmin had even commented the need for a stable cryptocurrency to be used for real-world implementation and not a volatile cryptocurrency such as Bitcoin.

The Comment read-

Yeah it’s almost like real world implementations of blockchain will require a relatively stable cryptocurrency, instead of a rapidly inflating pyramid scheme…

 

 

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