Starbucks Are Crypto-believers! (But Maybe not Bitcoin)
Starbucks CEO, Howard Schultz has opened up on crypto, declaring himself a supporter. However, he hasn’t expressed support for Bitcoin itself.
In an interview, Schultz expressed his belief that crypto was going to hit the retail market in a big way in the future. He also believes that Starbucks, one of the earliest users of smartphone payments, is in a great position to capitalize on opportunities as they arise. Schultz said,
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. And I believe that Starbucks is in a unique position to take advantage of that.
If not Bitcoin, Then What?
However, Schultz made it very clear that it is blockchain technology that he is a fan of, and, as such, doesn’t see Bitcoin as a leader in that respect.
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 went on to say that he believed that a legitimate, trusted technology would emerge from blockchain, and that this would be the currency to change the face of retail in the future. He finished by stressing that this did not mean that Starbucks themselves were either considering creating their own cryptocurrency, or investing at this particular moment.
Now, I don’t want anyone to hang up on this call and assume that we have this all figured out because we don’t. Or that we’re making a significant investment in this, because we’re not.