Binance CEO, Changpeng Zhao, one of the most-known figures in the entire cryptocurrency industry, declared that he thinks Amazon simply cannot avoid having to issue a proprietary altcoin in the future. This is not the first time that there have been talks about this topic. Zhao said that everything revolves around when it will happen, not if it will happen.
Rumors about Amazon considering cryptocurrencies often appear. The retail giant did make many efforts to adopt blockchain technology but when it comes to digital currencies, just rumors exist. the latest one was about integrating bitcoin as an accepted payment method.
Zhao did state on Twitter:
For any internet (non-physical) based business, I don’t understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography. Amazon will have to issue a currency sooner or later.
The statement appeared after Jack Dorsey, Twitter CEO, said that the internet is going to eventually use a default special currency, which will be Bitcoin. Dorsey was invited on Joe Rogan’s podcast, where he did say that he cannot be sure of the fact that Bitcoin is going to be the cryptocurrency that will fulfil the internet currency role, but it is the largest one and is the clear choice at the moment. His words were:
It was something that was born on the internet, was developed on the internet, was tested on the internet; it is of the internet.