With the evolution of Bitcoin and Blockchain - a program which would allow end users to pay for purchases in stores with the Bitcoin equivalent - it is no wonder that many mainstream companies have begun to consider whether they could utilize Bitcoin as a form of payment.
Recently, Starbucks announced that they would be partnering with Microsoft to make exactly that happen - get ready to pay for your next frappe with a Bitcoin because the development is already underway, according to some sources. It is suggested that Starbucks would be working with a company called Bakkt, who would help develop a program that gives Starbucks the ability to successfully accept cryto-currency payments.
The process, according to representatives from Starbucks, would allow Bitcoin to be transferred into US dollars, which would then be accepted at Starbucks. The representatives did stress that individuals would not be able to purchase Starbucks with Bitcoin, but many individuals online have already advised that they feel that it is, effectively, the same sort of process.
Effectively, many financial advisors have speculated that this may be an attempt to avoid the charges from Visa and Mastercard - after all, Starbucks could charge any amount necessary in crypto-currency to pay for the product as well as any fees through this method. This particular utilization, however, could be beneficial for companies down the road, moving forward. As an initial project, it is true that many companies may be able to utilize similar technology to successfully process crypto-currency as a form of payment at a storefront.
The blockchain technology Starbucks would be utilizing would, they stated, remain open - this way they would effectively be able to find other uses for it. Therefore, the ability to manipulate the code and use the blockchain to process digital currency transactions may open up new sources of revenue for individual companies interested in utilizing a similar payment method, without gouging the current Bitcoin exchange rate.