Now you’ll be able to spend your whole crypto wallet at Whole Foods, and soon you may be able to bid on CryptoKitties at eBay. Growing adoption of cryptocurrency payments by mainstream companies was the big theme that emerged on the first day of Coindesk’s Consensus 2019 conference in New York on May 13. The Winklevoss twins’ Gemini announced that major retailers—ranging from Whole Foods to Nordstrom’s—were accepting crypto payments. Meanwhile, online marketplace eBay teased it may soon take virtual currencies with ads and a show sponsorship.
It’s Friday, May 22, 2020, and two pizza pies cost $45.90 at Stromboli's, across from my apartment in New York City. But 10 years ago, in Florida, two pies from Papa John’s cost Laszlo Hanyecz about $41—or 10,000 bitcoins, which is how he paid. And how Bitcoin Pizza Day was born.
Two major U.S. cryptocurrency exchanges known for aggressively seeking regulatory approval, Coinbase and Gemini, have been accepted as JPMorgan Chase customers, breaking through an important glass ceiling in the financial industry.
Your food makes a lot of stops on its way from the farm to your plate. The agricultural production chain is riddled with middlemen—packagers, distributors, logistics, and beyond—each one of them taking their cut. The humble farmer ultimately receives a fraction of the value of his goods, and he is often the last person paid in the process. But in the same way that cryptocurrency technology circumvents the middlemen in financial transactions, it’s now being implemented to change how produce moves around the world while ensuring farmers make more money. It’s a project called Producer’s Market, and it has some unlikely star power attached to it: Zachery Ty Bryan of…