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Binance CEO Believes Amazon Will Have to Jump into Crypto Sooner or Later

Back when cryptocurrencies came about, people and businesses alike were somewhat hesitant when it came to accepting them. Of course now the times have changed and there are several communities and businesses dedicated to cryptos. Even some of the traditional businesses around the globe took the leap and incorporated the new currency in their ecosystems and started accepting certain cryptos, mostly Bitcoin (BTC) as a legit method of payment.

However, despite the popularity of cryptocurrencies, some of the most established businesses of the 21st century are not ready to take the crypto leap. And one of those businesses is the e-commerce giant, Amazon, who isn’t really feeling the crypto love. But that will have to change soon, at least that’s what the Binance CEO thinks.

Let’s take it from the top. Binance CEO Changpeng Zhao tweeted to his more than 277,000 followers; on Saturday that he just didn’t get e-commerce businesses that don’t accept crypto payments despite all the benefits they have to offer over the traditional payment methods.

He didn’t mention Amazon particularly, until on of the crypto enthusiasts from Twitter, “Crypto Dan, The Crypto Bull”, mentioned the CEO of Amazon, Jeff Bezos, in his reply. And surely enough Zhao tweeted back.

So that’s what prompted Zhao to proclaim, “Amazon will have to issue a currency sooner or later”. And frankly, he just said what the cryptoverse had been dying to say. If this were to happen, if in fact the world’s online retail behemoth were to accept the blockchain-based banking and payment technology, it would open the floodgates to mass adoption. It would be a moment to remember in crypto history.

It’s not that Amazon has been turning a total blind eye to cryptos. Actually there have been some clues here and there which suggest that Amazon might take the crypto route. Patents over the last year by subsidiaries of the Seattle-based retail titan for cryptography and distributed data storage solutions along with a data marketplace that analysts claim could be used in order to integrate cryptocurrency payments into the Amazon ecosystem.

Why Amazon Hasn’t Taken the Crypto Leap Yet?

Isn’t that the question of the day? Amazon did clear it out back in 2014, when it revealed that it wouldn’t accept Bitcoin because “we’re not hearing from customers that it’s right for them.”

Which doesn’t mean that the doors of the crypto world are closed for Amazon forever, in fact it could very well imply that when the popular demand reaches a significant high point, Amazon may adopt crypto payments of some kind.

So keep your fingers crossed and hold on to your cryptos, because you might be paying for your next online shopping spree via cryptos. For further updates, stay tuned to BlockPublisher.

Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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