Largest American coffee company and coffeehouse chain, Starbucks is creating own cryptocurrency.
This is major hit for the cryptocurrency sector, because Starbucks and Amazon is definitely a huge market for the said growing sector.
Starbucks Executive Chairman Howard Shultz is interested in cryptocurrency, with one exception: he doesn’t like bitcoin, due to it volatility.
In a local interview, Starbucks top executive is seriously considering integrating blockchain technology into Starbuck’s business plan going forward.
During a Fox Business interview this week, Shultz stated that he sees blockchain technology as something that the Seattle, Washington-based company will use in the near-future.
Shultz then went on to drop hints about a potential blockchain mobile application.
It makes sense that these two major U.S. companies are thinking about moving into these industries.
After all, they have taken the world by storm lately, and like we saw with the emergence of the Internet, no company wants to be left behind.
He also suggested the two companies will “announce a crypto-strategy” in 2018.
After the news abuzz the net, both Amazon and Starbucks ended Friday’s trading session seeing green. It is a good indication that the markets are pleased with the news announced this week.
Starbucks ended the day up 1.35%, while Amazon ended the session up 0.46%.