Starbucks intends to roll out a blockchain-based coffee tracking platform. The platform will be developed under Microsoft’s Azure blockchain services, which will help the American coffee chain to keep an eye on the coffee production process. The news was reported by GeekWire on May 6.
Earlier in 2018, Starbucks unveiled an initiative called “bean to cup”. As per Microsoft, under the initiative, the company would help the farmers to test a blockchain-based coffee-tracking system across Costa Rica, Rwanda, and Colombia. Purportedly, the system will help customers to track their coffee production. Coffee bean farmers can also reap other benefits from the system as it will open up potential financial opportunities on the backend.
According to the coffee chain, the sources would be open sourced where the findings will be disseminated.
At the Microsoft’s Build Conference on Monday, both the companies also show cased a number of other joint initiatives. As per information, other joint initiatives include integrating IoT enabled devices at various café locations and introducing predictive drive-thru ordering.
A few days back, Microsoft unveiled a blockchain-as-a-service (BaaS) platform under Azure Blockchain services. Currently the supported unit for the BaaS platform is JP Morgan’s Ethereum-based platform.
Starbucks has also packed a deal with Bakkt, a cryptocurrency trading platform. The deal will pave the way for Starbucks to offer bitcoin (BTC)-based payments. But the payments made by suing cryptocurrencies will be converted into fiat money.