Reading Time
~ 2 minutes
Spread the Word

The giant Starbucks is planning to launch its own blockchain-based project. It’s still an idea!

The Executive Chairman at StarbucksHoward Shultz stated on 27 February 2018 that the company is planning to implement a payment application based on the blockchain technology. He thinks that “blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of”.

We want to remember that by the end of January 2018, the Executive Chairman mentioned that he doesn’t trust Bitcoin, because it will not become a currency in the future.

“I personally believe that there is going to be a one or a few legitimate trusted digital currencies off of the blockchain technology. And that legitimacy and trust in terms of its consumer application will have to be legitimatized by a brand and a brick and mortar environment, where the consumer has trust and confidence in the company that is providing the transaction.

During an interview with the FOX Business’ representative- Maria Bartiromo on 27 February 2018, Schultz has suggested that is going to embrace a digital asset as a payment in the future. Now, he clearly thinks that the blockchain technology is going to lift the company up.

The giant coffee retailer Starbucks is well known for its involving in continuous development of the business. They embraced new technology whenever it was needed to attract or maintain the loyal clientele. Today, Starbucks wants to adapt to the new market. Schultz has mentioned that “The real question in any brick-and-mortar retailer these days is how do you become as relevant outside of your stores as you have inside?”.

He added: “If you look at what we’ve accomplished to date and what we’re now talking about, the future of Starbucks domestically and around the world is our best days are in front of us”.

Having a huge reputation, Starbucks can easily promote and educate its customers in order to show the efficiency of the blockchain technology. There is still no information about the date when the crypto payment project will be launched. However, we can be sure that the future initiative will bring many contradictions and appreciations.

Read more articles related to this subject:
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.