Amazon are the biggest ecommerce company in the world. Their entire product is built upon growing and enhanced technologies. From the outset, Amazon have always fostered a positive attitude towards the new trends and the latest technological advances, this is because they are a part of the internet revolution, a revolution that can only be won with an optimistic attitude towards technology.
So, why haven’t Amazon adopted Bitcoin yet?
Let’s look at it this way, Bitcoin compliments the Amazon ‘package’ very well. Amazon have an international reach and allow people to buy products from sellers in countries from all over the world. Part of the Amazon revolution is a shrinking of the earth, one that means people can buy products internationally at a cheaper rate and, have it delivered in record time. As it stands, Amazon only supports payment via FIAT currencies and traditional banks, this can slow down the payment process and mean that merchants incur fees. The use of Bitcoin however would abolish, both of these problems.
Moreover, the use of Bitcoin would also allow Bitcoin investors access to a gigantic platform through which they can spend said Bitcoin.
The problem here is inspired by the lack of regulation surrounding Bitcoin, not because Amazon are scared of Bitcoin or because they fear the lack of regulation, rather this seems to be a case of Amazon being too big to adopt a product that could eventually fail.
If a company as large as Amazon went on to adopt Bitcoin, it would cause such a massive surge in the popularity of the asset, that it could eventually put either Amazon or Bitcoin at risk. I guess the message here is that Amazon aren’t afraid of Bitcoin, they just don’t see accepting Bitcoin as a safe option just yet.
Will Amazon adopt Bitcoin?
We know that Amazon, amongst other giants like Facebook are exploring blockchain technology. When crypto becomes more mainstream and when Bitcoin becomes more mature we can start to expect that the likes of Amazon will start to accept Bitcoin payments, until then however, adoption simply isn’t safe enough for the ecommerce giants, who, despite everything still have the best interests of their customers at heart.