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Is the Amazon Coin coming? CEO of Bitcoin Stock Exchange Binance assumes

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On Twitter, CEO of Binance Crypt Exchange, Changpeng Zhao, commented on Amazon. In his opinion, the Internet trading giant will sooner or later issue a cryptocurrency. As justification, Zhao argued that cryptocurrencies were cheaper and easier to use for payments than traditional fiat currencies.

These took many steps to successfully complete a payment. In addition, cryptocurrencies are helping buyers from all over the world make purchases, tweeted Zhao.

That's right for the Binance CEO. With cryptocurrencies you can pay for goods and services from anywhere. However, payment service providers like PayPal, Stripe and many others are only available in certain countries. This means millions of potential customers are currently excluded from shopping at Amazon. On the other hand, there are only a few ways to buy Bitcoin with Paypal.

Amazon and the cryptocurrencies

There were rumors over the past year that suggested that Amazon considered accepting Bitcoin as a means of payment. An Amazon patent for a streaming data marketplace, for example, spoke in favor of this. In the patent application, Amazon had described an application case related to the crypto-currency market. However, it seems that the high volatility of Bitcoin is the main problem. So the fluctuating rate is likely to clash with Amazon's return policy. That's because the price is likely to change, making the repayment more or less worth the payment.

Since December 2017, there has also been speculation about a collaboration between Amazon and Ripple Labs. The advocates argued at the time that Amazon had to keep up with the emerging technology trends. Only then could it secure its dominance. These new trends undoubtedly include Blockchain and cryptocurrencies. Additional credibility was given to the assumption that Amazon was registering some cryptographic domains at that time.

In other ways, Amazon has already approached the blockchain technology. For example, last year the Amazon Web Service (AWS) entered into a partnership with startup Kaleido. This was to give the customers of AWS the opportunity to use Amazon's service, the blockchain technology as a non-expert. At the time, Amazon also expressed its interest in Ethereum. Matt Yanchyshyn, global technical director of the AWS Partner Program, said:

“We keep a close eye on Ethereum because many of our clients are interested in it, especially in corporate use.”

An Amazon Coin already exists

In 2013, Amazon introduced its own coin. However, this is not a cryptocurrency in the strict sense. The “Amazon Coin” is not based on the Blockchain technology. Rather, the coin is used to buy certain apps, games, and digital items in apps. In addition, customers receive discounts when they pay for their purchases on Amazon with the Amazon Coin. So the coin has the character of a shopping voucher.

Source: Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/kommen-die-amazon-coin-ceo-der-bitcoin-boerse-Binance-geht-davon-aus/

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