Changpeng Zhao, CEO of Binance, on February 2 stated that Amazon would launch its cryptocurrency sooner or later. The statement was made about an earlier tweet questioning why companies whose business are run on the internet have not adopted virtual currencies for payments.
CEO Tweets Regarding the Companies’ Payment Method
Changpeng Zhao (CZ) recently made a tweet regarding the payment methods used by companies whose business are carried out on the internet. According to the CEO, he does not understand why non-physical based businesses have chosen not to accept virtual currencies.
Zhao also said:
It[Crypto] is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography.
While there were several responses to the tweet, one stood out, and it may have also piqued the CEO’s interest. Dan The Bull, one of the respondents is of the opinion that if Amazon’s CEO begins to accept virtual currencies, then other companies will follow suit. In the Tweeter’s own words: “ask jeff bezos.. if he does everyone will copy”.
CZ Says Amazon Will Accept Cryptocurrency Sooner or Later
CZ, however, responded by saying: “Amazon will have to issue a currency sooner or later.” The message which got 25 responses as at press time, needs more light into the statement, but then, we’re only left with our imagination to roam wild. Nonetheless, if all goes as the CEO has predicted, then we’ll probably see a digital asset launched by the American e-commerce platform.
Unarguably, cryptocurrencies are volatile and as a user of the social media has pointed out, if these assets are accepted, then it could mean one of two things for a company. It’ll either result in massive gains or losses. Zhao, on the other hand, has recommended that a stablecoin can be used instead because these are known to be less volatile.
Facebook to Launch a Cryptocurrency on Whatsapp
BTCNN on December 21 hinted that Facebook has plans to develop a digital currency which can be used on WhatsApp. The social media company has been hiring a lot of Blockchain developers of late, and assumptions have been made that a product might just be underway.
Asides Facebook, BTCNN on February 1 informed that Wikipedia has started collecting donations in the form of Bitcoin and Bitcoin cash. Therefore, reputable companies are also adopting the digital currency for payments even though it might not be at the pace that Zhao may like. The same can be said about Microsoft who in 2014, allowed the purchase of Xbox with Bitcoin.