#288
Bitcoin For Coffee
Published:
May 18, 2019
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Investors and cryptocurrency enthusiasts from around the globe converged on Gotham this week to partake in the myriad of industry events and meet-ups around Blockchain Week NYC. Despite a year and a half of unrelenting “crypto winter,” the ice seemed to thaw a bit with Consensus selling over 4k tickets, and The Ethereal Conference, Digital Asset Summit, and Token Summit all filling their seats.
And, of course, after being declared dead earlier this year for the millionth time in its life, Bitcoin went on another face-melting parabolic bull run that saw the cryptocurrency rise from $3,500 just a month ago to nearly $8,400.
But the biggest announcement during BlockChain Week has been accomplishing what skeptics said would never be possible – you can now officially pay for your Starbucks latte with Bitcoin! (instantly to boot - no waiting 45 minutes for Bitcoin chain confirmation). Regulated cryptocurrency exchange Gemini has teamed up with crypto payment startup Flexa to make real-time digital asset payments possible at retailers like Nordstroms, Whole Foods, Crate & Barrel, and Starbucks.
The benefits extend beyond just the consumer. Retailers are protected against fraudulent transactions (no potential charge backs) and they can eliminate much of the MDR (merchant discount rate). The solution also doesn’t require retailers to do any point-of-sale upgrades – stores can use the same QR code scanners and integrations they already have installed.
So as crypto payments seem to be reaching actual merchant adoption just as BTC is "mooning", we advise you not to spend all your precious Satoshis all in one place…
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