Starbucks and Bitcoin: Chain Plans to Use Blockchain for its Loyalty Program


    Starbucks (SBUX) – Get Starbucks Corporation Report has been a digital pioneer leading the restaurant industry in everything from mobile order and payment to behind-the-scenes efforts like automating much of its inventory process.

    Now, the company has a plan to innovate again by using blockchain to expand the value of the “Stars” the customers earn through its loyalty program.

    That’s potentially a massive, public-facing use for blockchain technology because Starbucks closed its fiscal fourth quarter with 24.8 million members in its U.S. loyalty program and 51% of the revenue for company-owned stores came from sales to members of the program, according to CEO Kevin Johnson speaking on the Q4 earnings call, which was transcribed by The Motley Fool.





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