Starbucks is likely to utilize blockchain technology as part of a new payments app, executive chairman Howard Shultz said Tuesday.
Speaking with Maria Bartiromo during a Fox Business segment, Schultz discussed the use of a "proprietary digital currency" in conjunction with the payments app. When asked whether the coffee retailer would use blockchain in conjunction with the initiative - as opposed to a more centralized system of accounting - Schultz said that the company "probably" would move in that direction.
"I think blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of," he commented.
His comments come roughly a month after the former chief executive spoke broadly during an earnings call about the chain's plans to utilize the tech, especially on the payments front (although he dismissed the idea that the company would use bitcoin in some way).
At the time, Schultz suggested that the tech may play a role in how Starbucks works to "expand digital customer relationships," though it remains to be seen how blockchain is ultimately used in practice by the company.
"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.
0 Comments
Leave a Reply. |
CORWIN GROUPLatest News Archives
October 2021
CategoriesBy submitting this form, you provide consent for Corwin Group to email you occasionally with industry news and promotions. You may unsubscribe from these emails at any time.Testimonials & Disclaimer
Important Disclosure: By visiting this site, you agree to be bound by CorwinGroup’s Terms of Use and Privacy Policy. CorwinGroup.com is intended for accredited investors and otherwise qualified investors who understand and accept the risk associated with private investments. Investing in private investments on CorwinGroup involves risks, including, but not limited to market and industry risks, risks related to a specific property, currency fluctuation risk and liquidity constraints. Investments are not bank deposits and are not guaranteed. There is a potential for loss of part or ALL of the investment capital. CorwinGroup does not endorse any of the opportunities that appear on the site, nor does it make any recommendations regarding the appropriateness of particular opportunities for any investor. No correspondence or information provided on CorwinGroup.com or by any representative of CorwinGroup should be construed as a recommendation of a security. Each investor is advised to conduct his/her own due diligence as CorwinGroup does not provide any investment advice, business advice, or tax or legal advice. CorwinGroup is not registered under the Securities & Futures Act or the Financial Advisor’s Act. Neither the Securities and Exchange Commission in the country nor any federal or state securities commission or any other regulatory authority has recommended or approved of the investment or the accuracy or inaccuracy of any of the information or materials provided by or through the website. Please read Corwin’s Terms of Use for more detailed terms and conditions to which users of CorwinGroup are subject. |