Starbucks to Use Blockchain

Howard Schultz, executive chairman stated that Starbucks is likely to launch a new payments app based on blockchain technology
27 February 2018   646

According to a Fox Business report, Schultz hinted a blockchain app. He spoke about the use of cryptocurrencies in conjunction with the payments app. He noted that the company "probably" would move in that direction.

I think blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of it.

Howard Schultz

Just a month ago, the former chief executive spoke about the chain's plans to utilize the tech, especially on the payments front. However, he dismissed the idea of using bitcoin.

According to Schultz, he suggested that the tech may play a role in how Starbucks works to “expand digital customer relationships”.

I believe that we are heading into a new age, in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application.

Howard Schultz

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.