Starbucks retailers use block chain technology as a method of payment. Starbucks executive chairman Howards Schultz announced that they will use block-chain technology as part of their payment application. Schulz said this in an interview with Fox Business. He explained that the use of cryptocurrency can actually protect payment applications.
Schultz said the company could move towards such technology even in opposition to a centralized economic system. "I think Block Chen technology can exist in Starbucks integrated app." This comment was announced almost a month ago. At the time, Schultz said the company would use a block chain for payments, but Bitcoin would reject the call.
He thinks coin beats will not be the currency of the future. This is because the currency used is a reliable and legitimate currency. According to Schultz, reliable cryptocurrency must be certified by traditional companies. The use of this technology is one way Starbucks tries to maintain its relevance with customers inside and outside the store where non-cash funds begin to flow.
"How does the actual agenda of an offline retailer relate to the outside of the store, like an offline store recently?" He says.
Schultz said the company always makes long-term decisions and is not based on performance for the next quarter or quarter. Starbucks stock price recently fell to $ 57.17 from $ 64.87 in 2017.