Starbucks Creates Integrated Platform For Users To Use Exchange Like Bitcoin

Intercontinental Exchange which is an important operator of global exchanges, recently made an announcement that it plans to shape a new company, Bakkt, which aims to leverage Microsoft cloud solutions is being a part of many companies to create a combined platform that allows users and to buy, sell, store and spend digital assets on an all-in-one global network. The firm will be assisting the digital asset markets to evolve firmly and professionally while supporting transaction flows.

The Bakkt ecosystem is specially created to address the developing requirements of customers in the estimated $300 billion digital asset marketplace. It is already working with companies like Microsoft, Starbucks, and BCG.

According to Sean Collins, Senior Partner, BCG, blockchain technology holds a wonderful potential to allow new business models and trusted ecosystems that would unlock the transformative potential of digital assets across global markets. However, some of them have not had success connecting all of the necessary players.

On the other hand Starbucks Corporation, which is an American coffee company, will play an essential role in making a practical, trusted, flexible and regulated applications for the users to convert their digital assets into US dollars for use at Starbucks, said Maria Smith, Vice President, Partnerships, and Payments for Starbucks.

Starbucks is also committed to innovation for expanding payment options for our customers. Thus, Starbucks accepting cryptocurrencies will make the company much more conventional, flexible, user-friendly,and plus it will allow the users to spend their digital currencies almost anyplace.

As news revealed in News BTC, Starbucks has already become the biggest news of the year for bitcoin. On the other hand, Bakkt is creating to serve as an accessible on-ramp for institutional, merchant and user’s participation in digital assets by generating greater efficiency, security, and utility. It is presently in preparation for a new launch and further operational details will be announced in the coming weeks.

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Chinese Blockchain App Said To Have Sourced Thousands of Diamonds

ZhongAn Technology, a subsidiary of China’s first online insurer claims to have founded a blockchain technology that has successful traced nearly 760,000 diamonds.

ZhongAn Technology, a corporation listed in the Hong Kong exchange, reported the initiation of its gem-tracking blockchain platform recently. It reportedly claims the project’s purpose was to bring a greater level of traceability in the luxury market.

The new application is currently being promoted through Diamsledger. This venture is a newly created subsidiary of by ZhongAn, also associated with online diamond trading firm Ediams.

Developed with ZhongAn’s blockchain network and raised on its cloud platform, the application is projected across selected entities across the diamond supply chain. This includes dealers, logistic companies, processing firms, customs and exchange centers.

The end goal, the firm states, is to institute a transparent ledger system built on a decentralized network that traces every bit of information about a diamond across the line from the production line to the customer.

The platform operates with traditional industry certificates such as GIA, HRD and NGTC, as reported by Coin Desk. This means that purchasers can enter a diamond’s code number to access all its information via they need through the digital ledger platform.

Zhang Yongwen, CEO of Diamsledger believes that data surrounding 760,000 diamonds is right now loaded onto their cloud service. Zhang commented that the application hands out a double assurance bonded with traditional certificates, meant to encode diamonds’ physical information ranging from original source and color.

This new platform comes close in the heels of other initiatives from ZhongAn,  including a blockchain-based food supply chain application. The firm also developed a blockchain-based venture meant to combat piracy in the media.

About Zhong An:

Zhong An, the first company in China with an Internet-based insurance service, has supplied over 630 million insurance policies and tended to nearly 150 million clients. The company has reshaped conventional insurance fields by applying the internet across the chains.

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