Starbucks chairman touted the blockchain

nRunaway Comment: Chairman of Starbucks said the future long-term payment strategy will consider the blockchain and digital currency technology, in order to expand digital customer relationships. However, he is not optimistic about the prospect of bitcoin as a currency. The company also does not have plans to issue digital currency or invest in blockchain and cryptocurrencies. It just expects policies and regulations to support these technologies. And Starbucks itself is very active in cashless payments, and its mobile payment app can also provide a great place to grow your business for cryptocurrency.n
nTranslation: Annie_Xun
Howard Shultz, chairman of Starbucks, said the chain plans to integrate blockchain and digital currencies in its long-term payment strategy in the hope of “expanding digital customer relationships.”n
However, Shultz does not believe Bitcoin will play an important role in this strategy, and does not believe that this initial cryptocurrency will be “the currency of today or tomorrow.”n
He clarified that Starbucks is not in the process of developing digital currencies or investing in blockchain or cryptocurrencies, but is looking forward to seeing the law give credibility to these technologies.n
Shultz made the above statement at the company’s annual investor conference and was later reported by diginomica.n
News coverage of his speech:n
n”I believe we are moving toward a new era in which blockchain technology will provide this era with a digital currency that consumers adopt.”n
nHe said Starbucks has taken advantage of this change.n
n”We think we can provide something for companies chasing this because we are good at creating trustworthy places that we accept, and we can take advantage of the mobile payments platform we’ve created.”n
nShultz mentioned the platform is the mobile payment app launched by Starbucks in 2015, customers can use this app orders and pay, you can also accumulate rewards.n
Cell phone payments account for almost one-third of Starbucks U.S. transactions, so Shultz said Starbucks will consider opening cash-strapped stores in the United States.n
Starbucks has a history of welcoming cutting-edge payment solutions. Starbucks, the fall of 2012, used Square as the sole agency for its debit and credit card transactions, but the last such partnership ended.n

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