Blockchain Technology Will Soon Be Implemented in Starbucks’ Supply Chain, Thanks to Microsoft
- Starbucks plans to use blockchain technology to track coffee production.
- Microsoft’s Build Conference announced other projects, like the use of IoT technology.
One of the greatest uses of blockchain technology, outside of cryptocurrency, has been with supply chain management. Trials are going on around the world to examine whether the blockchain serves the desired purpose, and if it effectively performs what it needs to do. Starbucks has decided to get involved as well, implementing the Azure Blockchain Service, which was created by Microsoft. The purpose of the blockchain ledger will be to track coffee production.
The work to launch the “bean to cup” project was originally announced last year, during which time Starbucks announced that they would be collaborating with the farmers in Rwanda, Colombia, and Costa Rica. The new system will make it possible for customers to see where their coffee comes from. Coffee bean farmers also stand to benefit in the way of financial opportunities. The pilot program is going to be open-sourced soon to show what they have found.
According to reports from GeekWire, the two companies attended the Build Conference by Microsoft, where they showed multiple joint initiatives. Along with this effort, other projects include drive-thru ordering with predictive technology, along with the connection between multiple cafe locations with Internet-of-Things (IoT) technology.
The Azure Blockchain Service was only announced on May 2nd, and it is a blockchain-as-a-service (BaaS) platform that is available with the support of Quorum. With the new BaaS system, Microsoft appears to want to streamline consortium blockchain networks and their use, covering the creation to all alterations.
Recent reports this week show that Starbucks will be accepting Bitcoin as a payment option, due to an equity deal that it struck with Bakkt, the cryptocurrency platform. The chain will not actually be processing the Bitcoin payments directly, because the cryptocurrency will instantly convert into fiat currency.