StarbucksCoin is a possibility according to CEO

Starbucks is expected to use blockchain technology as part of a latest payments app, executive chairman Howard Shultz said Tuesday.

In conversation with Maria Bartiromo during a Fox business segment, Schultz talked about the use of a “proprietary digital currency” in the context of the payment application. When asked whether the coffee shop chain would use a blockchain in this initiative – in contrast to a more centralised billing system – Schultz said that the company would probably move in this direction.

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“I think blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of,” he commented.

 

His remarks come about a month after the former CEO spoke broadly during an income call about the chain’s plans to use the technology, especially on the payment area (although he rejected the idea that the company would use bitcoin in some manner).

At the time, Schultz suggested that tech could play a role in how Starbucks works, but it remains to be seen how the blockchain will eventually be used in the company’s practice.

“I believe 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,” he remarked during the earnings call.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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