We had previously reported that Binance CEO Believes Amazon’s Jeff Bezos Can Cause a Change in Crypto Market. It looks like he still believes that as we hear about into the year ahead.
In a recent twitter post by CEO of Binance, Changpeng “CZ” Zhao, he again brought it up for discussion, that why aren’t more business’ based online, accepting cryptocurrencies.
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
He does highlight the benefits of cryptocurrency in his tweet, emphasizing on how they are faster, cheaper and easier to adopt, compared to the traditional methods of payment:
Now although the question about whether crypotcurrencies will be widely accepted, is one that has been asked over and over again, we can see that some progress has been made.
At the moment there are almost 11 major online retailers who are accepting Bitcoin. For example, back in 2014, Microsoft started accepting digital gold for Xbox purchases. Other companies too have started accepting cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash, and Monero.
However, the current rate of progress doesn’t seem sufficient enough for the Chao. Although it currently looks a little far fetched that Amazon would get into the crypto arena, it still can’t be completely disregarded.
However, Chao believes that it is inevitable, that Amazon will sooner or later launch their own cryptocurrency. No, we are not reading his mind, he actually said so in reply to one of the comments on his post.
Considering that major e-commerce sites are always on the lookout to make their platform standout and offer extra reasons for consumer to pick their particular site, it might just be that Amazon responds to Chao’s demands and actually considers accepting crypotcurrency as a form of payment.