![]() ![]() However, adoption for Bitcoin as a direct form of payment never panned out, and most of the chatter surrounding Amazon and BTC died off with the falling crypto prices of 2018. At the time, a German newspaper reported that sources in Silicon Valley were hinting at the eventual merger, with Amazon looking to capitalize on the crypto gains and fan-base enjoyed by rival online outlet. Prior to the epic bull run in crypto prices at the end of 2017, numerous rumors were floated that Amazon could look to integrate Bitcoin into its platform. In addition, the company would likely follow the current trend of pursuing a stablecoin as opposed to a price-volatile currency like Bitcoin or Ethereum, in order to avoid the headache of hourly changes in valuation. However, the latter has substantial financial benefits for Amazon. Investors and enthusiasts of cryptocurrency would hope to see the online retail giant integrate Bitcoin and other top currencies into their marketplace, as opposed to outright developing a new coin. The company does not outright accept cryptos for payment–although users can make purchases indirectly through other payment platforms–and has not joined the likes of Facebook and large internet companies rumored to be developing their own stablecoins. Despite having made passive efforts to implement blockchain technology into their current operation, Amazon has been characteristically silent on the acceptance of cryptocurrency. Zhao’s comments immediately drew to mind the issue of Amazon having yet to announce a token project or “Amazon coin,” a discrepancy which Twitter users were quick to point out. And reaches more diverse demographic and geography.” It is easier, faster and cheaper to integration than traditional payment gateways. “For any internet (non-physical) based business, I don’t understand why anyone would not accept crypto for payments. ![]()
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