Starbucks to Accept Bitcoin Thru Bakkt

Starbucks was one of the original participants of the the Bakkt creation project
05 March 2019   474

By the end of 2019, Starbucks plans to allow visitors to pay for their orders with cryptocurrency, which through the Bakkt platform will instantly be converted into Fiat. This is reported by the Block.

It is assumed that initially the opportunity to pay with Bitcoins will be available only to customers in the United States. At the same time, digital assets will not appear in Starbucks reporting.

At the moment, the company from Seattle is developing an appropriate application. In case of successful completion of the project, Starbucks will become the first outlet on the platform.

Bakkt agreed to transfer Starbucks a “disproportionately large” share in its enterprise, although the chain of coffee shops did not invest in the development of the site. As noted, the cooperation is based on mutually beneficial conditions, specific figures, however, were not named.

It is noteworthy that similar information has already appeared in the press in the summer of 2018. Then the leadership of Starbucks stressed that the coffee shops will not accept cryptocurrency directly, but will allow users to convert Bitcoin to Fiat through a special application.

Starbucks was one of the original participants of the the Bakkt creation project, which, in particular, will offer bitcoin futures to institutional investors. Initially, the launch of the platform was planned for last fall, but was postponed several times. Nevertheless, it can only be considered a matter of time.

Lightning Network Wallet by Breez to be Out For iOs

Solution is based on the lightweight client called Neutrino and it wallet supports Submarine Swaps technology
18 June 2019   148

The Breez payment platform introduced a non-custodial wallet for iPhone that supports the Lightning Network protocol.

The basis of the new product is a lightweight client Neutrino. It is also known that the wallet supports Submarine Swaps technology, which makes it possible to conduct transactions between online addresses and the Lightning Network.

The company's blog says that immediately after installation, the application automatically connects the channel to the so-called Breez hub connected to other Lightning nodes, which allows the user to conduct transactions with any participants in the second-level network. In addition, according to the founder of the company, Ron Scheinfeld, the possibility of a refund is provided in the event of challenging purchases.

In a Lightning economy, people trade money for goods and services. Intermediaries — banks, credit cards, online payment processors, and custodians of any kind — are obsolete. All that remains are the people, trading with each other anywhere, anytime, free to do what each of them thinks is best with their own money. Scale is no longer a concern. Transactions are virtually instantaneous and practically free. The people are free too. Finally.

Roy Sheinfeld
Co-Founder and CEO, Breez

The company also noted that within only two months after the release of the version for Android, Breez benefited from "hundreds of users." Currently, the wallet is in beta.

On the eve of the release of the iOS application, the startup managed to attract $ 500,000 from Recruit Strategic Partners and Fulgur Ventures. The funds will be used to develop an application for merchants, allowing them to accept Lightning-payments.