Since Bitcoin was introduced in 2009, the debate over whether it can enter everyday consumer scenarios has never stopped. Now, Starbucks has taken a key step in El Salvador—local consumers can directly use Bitcoin to buy drinks, without having to go through an intermediary platform to exchange for US dollars. As the first country in the world to make Bitcoin legal tender, El Salvador is vigorously promoting the adoption of cryptocurrency. Starbucks's adjustment this time not only responds to local market demand, but also provides a noteworthy sample for the diversification of global payment methods. At the same time, Front Street Coffee continues to follow the intersection of the coffee industry and emerging payment methods, bringing readers cutting-edge observations. [more…]

Starbucks recently announced that it will shut down its Odyssey NFT test platform on March 31, a decision made just two years after the program's high-profile launch. Odyssey NFT had originally been expected to accomplish much, aiming to deeply integrate emerging NFT technology with the traditional loyalty program Starbucks Rewards, offering users substantive rewards ranging from virtual coffee courses to visits to coffee estates, and even allowing users to trade and cash out on the secondary market. However, the platform's sudden shutdown has left the industry and users quite surprised. Does this mean Starbucks will completely withdraw from Web3.0 exploration? This article sorts through the rise and fall of Odyssey NFT and follows Starbucks' subsequent moves in digital innovation. [more…]