20181101-Merchant Adoption-PundiX, Square, Starbucks

 Altcoin Daily (Merchant Adoption):
People now hold crypto as investments like holding an Apple stock.  But we are at a transition where we need people to start using crypto currencies to encourage mass adoption.
Three companies to watch in 2019 to really push mass adoption to happen for cryptocurrencies hopefully:

1.     PundiX – good company, good products but they need to get as merchant adoption as soon as possible in order to stay ahead.  Also they don’t have many partnerships with big payment networks, that is a major concern which leads to the next pick Square.



      Square -  is an established company in digital payment system.   They have connections with millions of merchants so they have substantial market penetration.   On 8.29.18, their patent is approved for a system that allows merchants to accept cryptocurrencies alongside conventional payment methods and cash out in their currency of choice.   Square would not be the first payment processor to allow merchants to accept payments in cryptocurrency that are automatically converted into local currency. BitPay, for instance, has been processing bitcoin payments since 2011.

However, Square already has tremendous market penetration, so adding cryptocurrency payments to its present POS system would allow millions of merchants to accept bitcoin without having to onboard to another payment processor like Pundix or manually convert cryptocurrency funds into fiat like Starbucks.
Note this patented cryptocurrency payment network has not yet being implemented into its POS service.   But when it does, it will directly compete with PundiX.


3.     Starbucks – partnership with Microsoft and ICE on a new cryptocurrency platform called Bakkt that enable consumers and institutions to buy, sell, store and spend cryptocurrencies on the global network by December.   Now one can spend bitcoin at every single Starbucks!

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