According to a survey conducted by Investing.com, only 13 percent of Amazon shoppers would buy bitcoin or other cryptocurrencies through the Amazon platform. The other percentage of people would more likely medical marijuana or Amazon-branded computers so we are about to find out why this is the case in today’s crypto news.
Amazon sells pretty much everything so maybe getting into crypto is a good thing. The company has to first accept cryptocurrency for online shopping. It could be easier for Amazon to accept crypto payments since it is faster and cheaper and most importantly, cuts down on the paperwork.
The online shop has one of the largest user bases in the world and in 2018 was estimated to have about 76 million user accounts. How can a token help Amazon?
By paying with AmazonCoin, it could lower down the chances of credit card fraud and it could reach bigger geographic regions that have banking problems. There are many people who don’t have a bank account and live in restricted regions thus cannot be paid in cash and the creation of an Amazon cryptocurrency could change that.
There are plenty of other benefits of how the blockchain could improve the ecosystem of Amazon. The delivery process could also be improved. Many cryptoanalysts, experts and traders are urging Jeff Bezos to think about issuing an Amazon cryptocurrency. It remains for one question to be answered if the online giant starts accepting cryptocurrency or even create one; will that be the final step that will lead to mass adoption?
The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
Central Bank Of Japan Examines Digital Currencies According To New Report
Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
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