Mar 31, 2021
By: Caffè Barbera
Naples, Italy, 31 March 2021 – Last year was rough for most of the business world, and coffee distribution and retail were no exception. Yet amid a once in a century global pandemic and the ensuing economic meltdown, Caffè Barbera decided to look towards the future and bet on innovation. Today, by accepting digital currency (including the leading stablecoins) on Algorand’s high performing blockchain founded by MIT Professor and 2012 Turing Award-winner, Silvio Micali, the company is crystalizing its commitment to that forward-looking strategy.
This past summer Caffè Barbera became the first coffee producer in Europe to enable digital currency payments through its e-commerce website. The historic coffee brand began to accept payments in Bitcoin, Ethereum, and Ripple for all of its consumer coffee products.
Even for an industry steeped in heritage, Caffè Barbera has a unique history. In the 1870s, Domenico Barbera the ‘Coffee Wizard’ founded the business, Italy’s oldest coffee roastery, in the South of Italy. 150 years later the mission of the company remains: producing exceptional coffee, with a distinct Southern Italian flair. In fact, the company is still owned and operated by the fifth and sixth generation descendants of the original ‘Coffee Wizard’. Today Caffè Barbera is a global brand, present in more than 60 countries spanning five continents.
“At the beginning of the year, we decided we wanted to do more, to offer more, and we realised that we couldn’t do it alone so we began looking for a partner. We found Algorand and were very impressed by their team and mission,” recalls Elio Barbera, 6th generation of the company
Algorand’s blockchain platform allows multiple parties to make secure payments to one another and immediately settle their transactions with minimal transaction fees. This permits individuals and businesses to send and receive digital currency payments in a secure, scalable, and decentralized manner.
Algorand was founded by Silvio Micali in 2017. Micali, an MIT faculty member since 1983 and winner of the prestigious Turing Award for computer science, set out to create a fully decentralized, secure, and scalable blockchain technology platform. His team’s mission is to provide a common platform for building products and services towards a borderless economy. The pure proof-of-stake protocol is also energy-friendly, another point of alignment with Caffè Barbera.
By using the Algorand platform Caffè Barbera will have access to payment solutions that cover the last mile of the blockchain ecosystem and enhance a businesses’ ability to receive, store, and use cryptocurrency payments. This make everyday transactions with digital currencies secure, seamless, and accessible.
Caffè Barbera will now accept payments on its e-commerce website for consumer coffee products via the following coins: ALGO, USDT, USDC, BUSD, BNB, DAI, Litecoin, Bitcoin Cash, Stellar, and Tezos. This is in addition to Bitcoin, Ethereum, and Ripple which the business began accepting last year.
What’s more, the partnership with Algorand will extend beyond business-to-consumer payments. Using Bleumi Pay, an innovative payment aggregator for digital currency payments, with its integration to Algorand’s Blockchain, Caffè Barbera will also accept digital currency payments directly from distributors, bringing the digital currency revolution to business-to-business transactions as well.
To celebrate the new Algorand Partnership, Caffè Barbera is offering an exclusive promotion for all of its customers. Anyone who purchases products with ALGO cryptocurrency will receive 20% off their purchase. The discount will be automatically calculated in the purchase and will be live from April 1st
“We are committed to digital transformation and believe blockchain technologies have an enormous potential. The move towards digital currencies is in some ways inevitable. This will bring obvious advantages in efficiency, agility, and greater financial inclusion. Even in a traditional sector like coffee, in the next 5-10 years, digital currencies will transform online business-to-consumer sales and international business-to-business sales. This is the right moment to invest and experiment with these technologies. Fortune favours the bold.” – Elio Barbera