Starbucks Sees the Potential of Cryptocurrency

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Mark Mason

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Starbucks Sees the Potential of Cryptocurrency

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Howard Schultz, the executive chairman and former CEO of Starbucks, said that “one or a few legitimate” cryptocurrencies are coming, but does not “believe that bitcoin is going to be a currency today or in the future” and believes in the underlying blockchain technology.

Schultz clarified that he brought up the topic not because Starbucks is developing or investing in cryptocurrencies, but wanted to discuss the long-term potential of a “consumer application in which there’s trust and legitimacy” when thinking “about the future of our company and the future of consumer behavior.” He went on to mention that he could see a future where the coffee chain would be completely cashless.

The current CEO, Kevin Johnson, reiterated that the coffee giant is not investing in blockchain, but did say they are testing a cashless store in Seattle. Johnson recognized that “payment and payment platforms are continuing to evolve” and wants Starbucks to integrate new technology before competitors.

Read more: https://www.dashforcenews.com/starbucks-sees-potential-cryptocurrency/
 
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