STARBUCKS is set to become one of the first major high street shops to accept cryptocurrency after it announced plans to incorporate cryptocurrencies as part of its payment strategy, but Starbucks Chairman Howard Shultz said they have ruled out using Bitcoin. Which at this current time makes sense due to slow transaction times and the cost of said transactions. Howard Schultz does make a valid point as there are other ALT coins out there that are more suited for business or peer to peer transactions. While there is talk of lighting network helping with these issues I wonder will it rectify the problems?
Starbucks Chairman Howard Shultz also said it was necessary for major businesses to adapt their strategies. He said: “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.” This is good for all of us in the cryptospace as it becomes more socially acceptable and mainstream but will other businesses start to adopt the same strategy where they snub the almighty Bitcoin? What do you think this will do to the BTC value?
Please share your thoughts! Cheers!
Saw this news earlier, I am sure this is a very positive progress of crypto and I personally think Litecoin has the upper hands :-)
Yeah this is great news as we move into acceptance of cryptos in dealing with the general public. It will alleviate fears of the new technology as people use it more and more. Litecoin is a great option as well as many other ALTs. I think this will be a year for cryptos. What an exiting time to be alive and see this shift!