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0:58, 06 June 2018

Anti-Bitcoin, Pro-Blockchain Howard Schultz To Exit Starbucks Amid Rumors He’s Preparing a Presidential Run

Anti-Bitcoin, Pro-Blockchain Howard Schultz To Exit Starbucks Amid Rumors He’s Preparing a Presidential Run

howard schultz

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Howard Schultz, the anti-bitcoin, pro-digital currency executive chairman of Starbucks, lately confirmed his intention to leave his part at Starbucks and is said to be taking into consideration getting into politics, according to CNBC. Schultz has denied in the past that he is arranging to run for president, but he has been active more than the years in supporting political causes.

Schultz, a political progressive, stated that he is concerned about increasing divisions in the United States and the country&rsquos standing in the globe. He told his employees he will contemplate his options, which includes public service and philanthropy.

A Political History

Schultz in 2017 stated his business would hire ten,000 refugees in a five-year period right after Trump announced an executive order to block refugees from some Muslim majority nations. He told his personnel the subsequent month that Trump triggered chaos for the U.S. economy.

He also criticized a Republican tax plan last year which Congress passed in December. At the DealBook Conference in November, he claimed Trump wanted to reduce the corporate tax rate from 35% to 20%, the profit of which he said would not assist small firms or the half of the men and women in the nation who don&rsquot have $400 in the bank for a crisis.

Schultz gave $ten,800 to Hillary Clinton&rsquos joint fundraising committee with the Democratic Party in 2016. This year, he gave $1,250 to Washington Democratic Sen. Maria Cantwell&rsquos campaign, and $five,000 to VoteVets, a progressive political organization.

Also read: Starbucks could serve up a blockhain payments app

Opposed To Bitcoin, But Not All Digital Currency

Schultz earlier this year said bitcoin is not a genuine currency, but stated a digital currency could play a key role in a cashless future. He said distributed ledger technology could be utilized beyond cryptocurrency. Schultz mentioned he thinks a future digital currency could have legitimacy and trust.

He also mentioned Starbucks was not organizing to introduce its personal digital currency, as Burger King Russia and Kodak have done.

In February, Schultz mentioned a proprietary digital technologies could be integrated into Starbucks&rsquo mobile app.

If rumors of his planned presidential run do prove to be true, the blockchain market will have considerably to maintain an eye on.

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Published at Tue, 05 Jun 2018 22:50:02 +0000

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