Starbucks Corp. Chairman Howard Schultz says that utilizing crypto currencies as payments could be big among customers. And if we are going to be real, it would provide a surge in business which would be great for the company.
Why Implement Cryptos?
Shultz says,
“I’m bringing this up because as we think about the future of our company and the future of consumer behavior, I personally believe that there is going to be one or a few legitimate, trusted digital currencies off of the blockchain technology”
He realizes the opportunity for his company and what it would mean for his customer base. Starbucks was one of the earliest companies to start using smartphone payments which were revolutionary on their own. Now imagine them being an early adopter of crypto. Innovation is the way to put you ahead of your competitors. Starbucks has dominated the business they are in and are looking to solidify themselves in the top spot.
Just Say No To Bitcoin
Schultz is looking to take advantage of the popularity of crypto and the want among crypto fanatics for a place to use these cryptos. Crypto currencies have long had the goal of being able to be used by businesses for everyday goods, but Bitcoin being the most mainstream coin, would not allow for this because of high fees and slow transaction speed. In the quote above he believes all the s### coins will be purged and there will only be a few left in the end that are useful. That is why Schultz is excluding Bitcoin from his hunt for a crypto currency.
On this issue, he says
“... I don’t believe that Bitcoin is going to be a currency today or in the future, I’m talking about the new technology of blockchain and the possibility of what could happen not in the near term”.
So its clear Bitcoin is not the coin they are pursuing. They realize that bitcoin is not suitable for purchasing coffees or little pastries. The transactions and fees are simply too high. So which coins can process so many transactions per day with no fees and still have fast transactions? Well, i can think of one: STEEM
A Steemy Solution
Starbucks has many customers and has many transactions every single day. I personally account for 1 of those transactions each day. Bitcoin couldn’t handle these transactions. That’s a fact. Bitcoin would crumble under this kind of work and the wait time would increase exponentially. Well, Steem processes upwards of 1 million transactions per day, and the transaction times never slow down. In fact, Steem broke the record for most transactions processed by any blockchain on multiple occasions, breaking the record set by itself over and over again. At the end of December, 2017 Steem was processing 13.4 transactions per second.
Imagine BTC trying to do that! It simply wouldn’t happen. So its clear that Steem can handle the weight of Starbucks customers better than any other coin. So how do we get the attention of Starbucks?
How To Convince Starbucks That Steem Is Worthy
Go to:
And submit a statement and recommendation for Starbucks to adopt Steem for crypto payments. Make sure to explain why with the transaction numbers etc. here are screenshots of the form you fill out and submit:
The link again is: https://ideas.starbucks.com
It’s a simple process and who knows, if enough of us do it maybe we will get the attention of Schultz and he will start implementing Steem payments. I mean, imagine that. Steem being used for a coffee business... I think that is an easy integration for advertisements and logos etc. lol
Get out there and submit your idea to them! There’s nothing to lose and so much to gain. It brings more attention to the platform and the coin and will make everything better. Let’s get this done as a community. We can do it!
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@originalworks
Not a huge fan of Starbucks, but can’t disklike any business accepting crypto if it helps mass adoption and is good for us then it’s a win!
Right. This could easily become a reality which is the greatestpart about it. It’s not some far away fantasy, its a very possible reality. I hope people actually take the time to go and fill out the form
Thanks for the update! Steem will shine. Just a mater of time. Have a great one!
Agreed.thanks for reading and leaving comment!
If Starbucks started accepting Crypto, it would be so huge for the space! I could think of very few other retailers with the global presence and sheer number of consumers I'd rather have than Starbucks on our side! There are few better companies to help Crypto go mainstream!!!
Everybody going into Starbucks would know it. That’s so many customers in the world. Crypto is the future. As soon as some of these coins catch on, hopefully steem, then its off to the moon
This would be amazing for current steemians and an excellent recruitment campaign for Steemit!
I agree 100%
Resteemed and added my suggestion, I also said cautioned against Starbucks launching their own coin since it's likely been a topic of conversation over there.
Starbucks made a statement that they aren’t interesting in introducing their own coin
I've been writing this on every one of these posts, but the blog post literally states that they will NOT be accepting crypto in the near future.
But what is the near future? It could be 1 month. It could be 2 months. It could be a year. It could be another time frame. They didnt specify when which is a smart move since they likely dont know yet. To make those decisions in a business takes time and they would have to introduce new policies worldwide. So it would take time.
But just the fact that they are looking it makes for good news for the crypto world. It doesn’t matter how long it takes as long as they do it and keep talking about. It puts crypto into the news which builds strength and curiosity in blockchain
good post, I like your post ..
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Very informative! Since I love coffees specially in starbucks i think i should do that!
It would be great for Steemit & Starbucks
BUT if all crypto payments can be SEEN on a public blockchain this is NOT the kind of commercial information any corporation wants out there for the competition (or governments) to see
So there will be some very deep thinking going on to make sure payments are not only secure but SECRET
Starbucks already publishes these transactions every quarter and year. They are required to by law under the GAAP principles. Every can already see how much Starbucks earned from coffee or teas etc. in the company’s financial statements. It’s not secret info
Very glad to hear that!!
@ginquitti
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Antes funcionaba en steemfollower, pero ya no funciona esa aplicación, es una pena, yo también estoy viendo como conseguir mas seguidores, como puedo hacer ese robot? :D
Hi a new follower here. This could mean a big break for everyone of us in the steemit community if it becomes a reality