Young companies are now following the trend of associating themselves with giants in their relevant streams. This is understood for a small company, but slowly the recent trend is that bigger and established brands are associating themselves with even bigger companies to achieve two main major push forward.
Why are companies Looking forward to such movements?
One is to get the company to push for more profits and increase the stock value. The other and the most significant one is to improve the market presence of the company all over the world. We have seen many major collaborations this year and out of which the biggest and major haul would be between Shopify and Facebook’s Libra Association.
Shopify is new to the blockchain space
Shopify made the skies clear recently by announcing their partnership to join hands with Libra Association. The Major clearance to the partnership would be to majorly develop a common platform for digital payments with the support from Libra for more than 1 million store launches by helping startups to get up on their feet. With this venture, it is also evident that the partnership startups with Shopify will also benefit from this tag-team.
Both the companies took to twitter to make the partnership official to million of the users and enthusiasts following them on the platform. The main motive behind Shopify is to improve the business technologies that revolved around its products to have more credibility. There is also much more to get added to the space between the partnership.
The company when asked what are they exactly trying to establish, said that with them walking into the Libra Association, they want to make e-commerce established and beneficial to all.
Now the company did not establish the fact that they will help the users to directly use cryptocurrency to facilitate their payments. There are a lot of intuitive thoughts that are behind this partnership as well.
Shopify might be planning to start development on their very own digital payment platform powered by the blockchain technology. this will make sure that with the developing trends the Brand name of Shopify will remain the same and with a humongous global presence, it is a much needed and appreciated move from the company.
Even with a lot of turbulent headstart for Libra, it is definitely trying to find its way around the technologies and with improved needs to get the name and technology of Libra to the global scale, the partnership with Shopify will definitely prove to be a winning streak start.