So you may have seen the news in the last week that Amazon were working to accept crypto currency payments, starting with Bitcoin.
Accordingly to an insider quoted in the City A.M. article:
“Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” she added.
“It won’t take long because the plans are already there, and they have been working on them since 2019.https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/
Now we know that this has been denied by Amazon, but City A.M. are a reputable news source and the the Amazon denial was carefully worded to rule out this year (not any year afterwards).
The insider stated that the directive came from Bezos, and that Amazon are looking to mint a native token.
And it’s the last part that is most interesting, because it links with the Cardano capability to run native tokens directly on the base ledger, and it provides a direct means for Amazon to take control of payments and value transfer within it’s ecosystem. That’s a massive deal.
Think about the global volume and value of Amazon transactions. All in local currencies. Now imagine that Amazon creates a token that sits above all of those, that can be used to run the global operations. Just in terms of transactions and exchange savings it could be worth at least 1% of 400 billion USD per annum (Amazon reported profits of 100 billion USD is Q2 2021). That’s 4 billion USD a year, and a very conservative estimate given we are calculating potential savings based on profits not sales volume.
This one has a way to run…