College Crypto Vol. 18 | Starbucks and Microsoft Join the Blockchain
Noah Ramos W.P. Carey School of Business, Studying Economics
Microsoft and Starbucks have announced...
Bakkt, a company of ICE, Intercontinental Exchange (Parent Owner of New York Stock Exchange) is the cryptocurrency platform that will facilitate daily bitcoin-futures contracts and provide Starbuck's customers the ability to purchase goods via Bitcoin, in hopes of launching a working platform near November 2018.
Maria Smith, Vice President, Partnerships and Payments for Starbucks claims “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.” I really believe that Maria has the exact attitude and vision for Starbucks, securing its stance in the coming economies and driving innovation. This partnership I feel will bridge the gap for people who haven't seen practical Bitcoin use cases and have been looking for compliance from the traditional system.
| Pros | Cons |
|---|---|
| ICE captures large portion of retail market with Starbucks | Drastically increased adoption rates will affect Bitcoins "Scarcity Value" |
| Increased Liquidity for weary adopters | HODLER's have created a "hard-to-borrow" marketER |
| More Institutional Money is Entering The Space | Sign of recession in "traditional market's" |
- Starbucks will soon stand beside existing retailers accepting Bitcoin including Overstock.com, Expedia, Shopify, Cheapair and more.
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