In the year 2018, Starbucks came up with its ‘bean to cup’ initiative as they said that it would work with farmers in Colombia, Costa Rica and Rwanda in order to pilot a coffee tracking system based on blockchain technology.
As per the report, the mechanism will enable customers to track the production of coffee they consume and will also open up financial opportunities for various coffee bean farmers on the backend. The American coffee giant further noted that they intend to open source the test program in order to disseminate their findings.
Reports mention that the two firms came up with numerous joint initiatives today at Microsoft’s Build Conference. Reports further suggest that the other projects include a drive-thru which primarily orders and connects IoT (Internet-of-things) enabled equipment at various cafe locations.
Recently on May 2, Azure Blockchain Service by Microsoft was announced. As per reports, the Azure Blockchain Service is essentially a blockchain-as-a-service (BaaS) platform which at present supports Quorum (an ethereum based platform developed by JPMorgan Chase.
As per the report, the newly developed Microsoft BaaS intends to plan the utilization of group blockchain networks, from creating it to modifying it. Previously this week, some details indicated that Starbucks would enable and accept bitcoin (BTC)-based payments following and equity deal with Bakkt (American based crypto trading platform.)
Reports further suggest that no definite bitcoins will primarily end up processed by the chain since cryptocurrency will be instantly transferred into fiat currency.