Binance CEO Changpeng Zhao said while discussing the broader issue of internet business sector that the online retail giant Amazon can’t avoid issuing its own cryptocurrency or altcoin.
Amazon online retail store has tried adopting blockchain technology in the past. However, there have been many rumors related to its adoption of cryptocurrency. Many times it was rumored that Amazon is going to use Bitcoin as a preferred payment option. But nothing related to cryptocurrency adoption has happened yet.
Meanwhile Binance CEO said:
“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 the demographic and geography…Amazon will have to issue a currency sooner or later.”
Changpeng Zhao’s comment comes in the same week when Twitter’s CEO Jack Dorsey said that the internet will gradually move towards the use of a default currency, especially Bitcoin (BTC). Dorsey made this comment during Joe Rogan Experience podcast, which was released on February 2, 2018. He went on to say that he’s not sure whether Bitcoin will become the default currency. However, he’s sure that the largest cryptocurrency will definitely become the clearest choice in such a case.
Dorsey went on to conclude by saying:
“It was something that was born on the internet, was developed on the internet, was tested on the internet; it is of the internet”.
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