Starbucks Working With Microsoft for Blockchain-Based Coffee Tracking Platform
U.S.-based coffee chain Starbucks is working with tech giant Microsoft on its blockchain-based coffee tracking initiative.
Starbucks first announced its “bean to cup” initiative in 2018, stating that it would work with farmers in Costa Rica, Colombia, and Rwanda to pilot a blockchain-based coffee-tracking system. The system will purportedly allow customers to track the production of their coffee and will open up potential financial opportunities for coffee bean farmers on the backend.
Starbucks further noted that they would open source the pilot program to disseminate their findings.
The two companies presented a number of joint initiatives today at Microsoft’s Build Conference, GeekWire reports. The other projects reportedly include predictive drive-thru ordering and connecting Internet-of-Things (IoT)-enabled equipment at different cafe locations.
Microsoft’s Azure Blockchain Service was just announced on May 2, as recently reported by Cointelegraph. Azure Blockchain Service is a blockchain-as-a-service (BaaS) platform that currently supports Quorum, the Ethereum-based platform of JPMorgan Chase. The new Microsoft BaaS purports to streamline the use of consortium blockchain networks, from creation to modification.
Earlier this week, details emerged that suggest Starbucks will accept bitcoin (BTC)-based payments following an equity deal with American cryptocurrency trading platform Bakkt. No actual bitcoins will reportedly end up processed by the chain, as the cryptocurrency will be instantly transferred into fiat currency.