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   478

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 Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.