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Changpeng Zhao: “sooner or later, Amazon will release its own cryptocurrency”

Changpeng-Zhao-Amazon-will-release-its-own-cryptocurrenc_20190204-085445_1 Changpeng Zhao | Head of Binance

The head of one of the largest cryptocurrency exchanges, Binance, Changpeng Zhao, expressed confidence that the largest online retailer Amazon eventually release its own cryptocurrency, which will be used to buy and sell goods.

In his tweet, Zhao noted that companies doing business on the Internet need to integrate cryptocurrency as a means of payment for their clients. He stressed that using cryptocurrency for payments is simpler and cheaper than traditional fiat money.

In addition, the use of cryptocurrency will attract customers from all over the world, as cryptocurrencies are available to anyone in the world, but payment companies like PayPal and Stripe work only in certain countries, which cuts off a significant portion of potential customers.


Note that in early 2018, there were rumors about Amazon's plans to use Bitcoin as a means of payment. Unfortunately, they remained rumors. Zhao noted that he could not understand the stubbornness of large retailers and their refusal to use cryptocurrencies in their business.


Earlier, in 2013, Amazon had already released its Amazon Coin, which was used to purchase gaming applications and digital content on Android smartphones and Blackberry devices. However, it was not cryptocurrency, since it was not based on blockchain technology.


SOURCE

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