Starbucks Chairman is into Cryptocurrency, Says it is not like Bitcoin

Nishanth Shetty

January 27, 2018 11:51 am

Starbucks Chairman is into Cryptocurrency, Says it is not like Bitcoin | Coindelite News
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Starbucks Chairman Interested Cryptocurrency, Launching own Cryptocurrency

Starbucks Corp. Chairman Howard Schultz told he trusts digital currency will be helpful for the customers, though not necessarily Bitcoin.

Schultz told that Starbucks, an early adopter of smartphone payments, is now all set to take initiative in coming years as cryptocurrency and its underlying technology which is known as blockchain technology which can become more prevalent among consumers. He is just not sure that Bitcoin, which was released in 2009 as the first decentralized digital currency or whether it will still remain in the future.

Schultz said:

“The reason I mention this is not because I’m talking about Bitcoin because I don’t believe that Bitcoin is going to be a currency today or in the future, I’m talking about the new technology of blockchain and the possibility of what could happen not in the near term.”

 He included:

“I’m bringing this up because as we think about the future of our company and the future of consumer behavior, I personally believe that there is going to be one or a few legitimate, trusted digital currencies off of the blockchain technology.”

 Schultz told Starbucks did not have any plan towards launching its own version of Bitcoin. He mentioned that a trusted consumer brand with brick-and-mortar locations will definitely help bring “legitimacy and trust” to the cryptocurrencies.

Recently, India’s largest network provider Reliance Jio also decided to launch their own cryptocurrency and Japan’s largest Bank MUFG planned to launch its own Cryptocurrency exchange.