Not content with being one of the most ubiquitous companies in the world, it is speculated that Amazon is highly likely to partner with Ripple (XRP) in 2018. Ripple, an international real-time gross settlement company dealing in currency exchange, supports cryptocurrency exchanges and flat coins, has been exploring growth expansion into the banking sector. It appears to be in part due to a growing respect for cryptocurrency and international investment, and it seems as though Amazon is wanting to get in on the ground floor.
Rumours about Amazon and Ripple forming a potential partnership have been floating for a few months now. Amazon is concerned with speed of transaction, and dealing in cryptocurrency can not only increase these speeds, but also vastly decrease the cost of transaction. Ripple’s choice of coin, the XRP, was designed specifically for enterprise use and would be suited to Amazon’s marketplace business structure, particularly regarding international ecommerce. Amazon trades in billions of dollars worth of ecommerce every single year and Ripple’s system could arguably increase the liquidity of Amazon’s transaction speed.
XRP would allow Amazon to have a coin that works on an international basis, one that could be used by its customers right across the globe, giving speed, stability and ease of use. This would be bolstered by the fact that cryptocurrency is already being integrated into general transactions by banks and financial companies across the world. Why not use it similarly in one of the biggest e-shopping markets in the world: Amazon? There’s an ever-growing acceptance of cryptocurrency in ecommerce and it might just help Amazon to grow even bigger than it currently is, and help its users easily transition to using the coin.
Ripple’s XRP coin is growing in supply and makes it best suited for the volatile market that is ecommerce. Regardless of what happens to market prices, the coin can cushion these fluctuations and ensure the customer does not feel the brunt of rapidly changing prices. Ripple has already been tested in markets like Japan and other US business, so it may not be long until we see Amazon leading the way into the changing market of cryptocurrency and ecommerce.