Starbucks Interested in an ICO
Howard Schultz, who is the Exec Chairman for Starbucks, discussed cryptocurrency during a company conference call. He was firm on his belief that digital assets will be all over the world in the next few years. However, Schultz did express that he did not really care for Bitcoin and did not consider the coin a currency. Shultz is not the only high-profile person that opposes Bitcoin. Nobel Peace Prize winner Robert Shiller, famous investor Warren Buffet, and Chase CEO J.P. Morgan Chase are a few others that agree with Schultz. One main reason that Schultz frowns upon the coin, is because the volatility of Bitcoin. Its price changes so much, that it would be difficult to use it on services and goods such as gas, groceries, or even a sandwich.
So will Starbucks be creating its own cryptocurrency? No, Schultz just brought up the information because in the future, the company will be looking into a digital payment system. Starbucks is already flourishing with their Mobile Order and Pay features. Currently they are doing a trial in Seattle for a no-cash policy. Schultz does feel that blockchain technology will eventually be a part of their strategy. This would be a great time for Starbucks to take advantage of digital assets and blockchain technology.