Changpeng Zhao or commonly known as CZ, the CEO of crypto exchange giant Binance, tweeted that “Amazon will have to issue a currency sooner or later,” on Saturday to his more than 277,000 followers on Twitter.
It all started when the founder and CEO of Binance tweeted about not understanding the reasons behind any e-commerce business not accepting crypto payments and not reaping benefits that the cryptocurrencies have to offer over traditional payment methods:
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.
— CZ Binance (@cz_binance) February 2, 2019
A twitter user, “Crypto Dan, The Crypto Bull” tweeted in response to CZ’s tweet that once Jeff Bezos, the founder, chairman, CEO of Amazon will start accepting Crypto, the world will follow.
This comment prompted Zhao to sort off go on a rant against Amazon, claiming that Amazon will have to issue a currency sooner or later. The cryptocurrency ecosystem has been waiting with bated breath for such adoption to occur. This will start to open up the roadblocks that the digital assets have been facing.
Well CZ might not be off the mark by a margin, over the last year the Seattle-based retail titan has obtained patents for cryptography and distributed data storage solutions as well as a data marketplace. The analysts predict that all of these patents could be in preparation to integrate cryptocurrency payments into the vast Amazon shopping platform.
If this indeed comes out to be true, it would be another major coup for the company. Having the richest man in the world investing the nascent technology, who also happened to have a history of leveraging every competency the company develops for increasingly more ambitious ventures. Amazon has the potential to become a major world issuer of the currency.