Starbuck’s CEO Howard Shultz has announced that they plan to incorporate blockchain as part of their payment strategy. However, Mr Shultz has snubbed Bitcoin – the original digital currency and has ruled out using it.
Starbucks could be set to become one of the first major brick-and-mortar stores to accept cryptocurrency payments. Starbuck’s CEO Howard Shultz hinted during an earnings call on Friday that the multinational coffee giant is considering accepting cryptocurrency payments at its brick-and-mortar stores.
Mr Shultz said he believes that “We are heading into a new age, in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application.”
This would be a significant move towards the mainstream adoption of cryptocurrencies for everyday purchases in the coming years. Due to the rapidly growing consumer interest in digital currencies, Mr Shultz said it was now necessary for major businesses to start adapting their strategies.
The Starbucks chairman made it clear that the original digital currency Bitcoin (BTC) is not going to be a part of their corporate strategy, stating that it is “Not going to be a currency today or in the future.”
Earlier this month QTUM announced on their official Telegram group that they will partner with Starbucks. However, there was little information given in the announcement, therefore the nature of this partnership is unknown. Both the announcement by Starbucks and QTUM has come in the lead up to the project’s meet-up in Berlin today (26th of January).