There has been talks lately of Bakkt and how users will be able to use the app to buy starbucks. How it works is you instantly exchange your crypto for fiat and can buy your coffee. This has lead some to argue that Starbucks is not taking bitcoin as they are not themselves dealing with it. And this is true but Starbucks also does not deal with credit and debt but they still take Visa.
Just because they are not handling it themselves it does not mean they are not taking it. A third party app is no different than using a visa or mastercard. You use your app and you get your coffee. You can argue semantics that technically they are not taking it themselves but really customers do not care. They do not care how their visas or debit cards are processed just that they can be used to buy coffee. And in the near future your bitcoin can be used to buy coffee as well.
And if this app works well it should be easy to be used in every store. If it turns bitcoin into fiat quickly, why would any store not accept it?
Is the network ready to settle these types of small transactions? Wouldn't the settlement time be an issue for the app, or they'll change the currency in good faith with a means to charge back the user if something goes wrong in the process? Maybe something in escrow?
Good news. I go to Starbucks daily. Yep... Thank you for the update @whatageek.
Can’t wait! This will definitely get the ball rolling......
Get ready guys. The bulls are prepping for their next run.
Posted using Partiko Android
I use to by starbucs 4-5 days a week.
This will spark the new bull run, pack your bags now!
Yeah, but will you be able to use it with their app and get stars too? :)
It means no more visa cards to keep in pocket....
Once they realize the benefits of quick and cheap transactions, others will follow and potential create the adoption needed for further development.
Posted using Partiko iOS
Sound argument!
Those who argue about Starbucks' "conviction towards Bitcoin" misses the brand affiliation that comes with such a hegemonic business accepting and normalizing Bitcoin as a means of payment.