Is Starbucks getting ready for the ICO? Starbucks to launch its own Cryptocurrency?

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Starbucks is ready to introduce its own Cryptocurrency

Recently, there was a news that Starbucks will be launching its own Cryptocurrency, but now the story is up to the Initial Coin Offerings (ICOs). Starbucks Executive Chairman Howard Schultz brought up his idea regarding the cryptocurrency on a conference while the organization’s latest quarterly earnings discussion was going on. Schultz also discussed his opinion towards bitcoin and stated that he does not think that bitcoin will be going to be currency today or in the future.

So, does it really sound like Starbucks is getting ready towards the world of Crypto? Actually, for the blockchain followers, the answer is no.

Recently, Schultz said:

“I’m not bringing this up because Starbucks is announcing that we are forming a digital currency or we’re investing in this.” 

Instead of providing the hint for the blockchain investment, the statements were designed to spread some benefits on the future of the organization’s digital payment method. Starbucks has already experienced the huge growth in its Mobile order and Pay service, the CEO Kevin Johnson also announced that the organization has been testing a no-cash policy in one of its downtown locations.

Schultz clearly trusts that blockchain will play an important role in that strategy in the future.

He expressed:

“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… We think we have something to offer the companies that are chasing this because we are in a position to create the trusted legitimate place in which this could be accepted and possibly take advantage of the mobile payment digital platform that we have created.”

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.