Today, I want to talk about the recent news about Starbucks planning to incorporate cryptocurrencies into its long-term payment technology strategy.
Starbucks Chairman Howard Shultz made the announcement a couple of days ago, saying that Bitcoin will not play a role in this strategy as he doesn't believe that it will be a currency today or in the future.
He also clarified that Starbucks is not developing a cryptocurrency as some other companies like Kodak, but his intention is to lend credibility to widely adopt these technologies.
Shultz said and I quote: "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."
The question here is, which will be the cryptocurrency or cryptocurrencies that they will accept. Considering the transaction speed and performance, some are speculating that Litecoin, Monero, Dash or even Bitcoin Cash will be accepted. I personally bet on Ripple's XRP as it will be more efficient in a real case scenario, considering its transaction fees and speed.
I know that some people don't like Ripple's XRP as it seems as a centralized cryptocurrency but we're not talking about philosophical positions but real-life scenarios, and in those terms, XRP is the best contender. However, I'm not familiar with the specific goals that Starbucks have in this regard and, the only scenario where I see XRP not being accepted is if Starbucks prefer a complete decentralized platform for its payments.
As a conclusion, it will be a matter of choice considering this company interests at the end you have to remember that this is business and companies like Starbucks are looking for the most profitable option to scale their solutions.
Let me know which coins do you think have better potential to be used as currency by Starbucks in the comment section below, thank you for your time.
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Disclaimer: This content contains my personal opinions and is not intended to be used as financial advice, please make your own research and take responsibility for your actions. Investing in cryptocurrencies implies a significant risk.