Binance CZ Makes A Bold Move In Favor Of Crypto

Binance CEO, Changpeng Zhao aka CZ has always believed in digital assets to reveals it’s worth value apart from what blockchain is showing its colors.

CZ Is Backing Crypto To Make It Better

According to a tweet by Bloomberg, it reads “Money laundering transactions are still as high as $2 trillion a year”, however, that’s not everything. The big giants keep on talking about the crisis and illegal activities related to digital assets. There are various other organizations and regulatory working on how they can improve the set of rules to secure and prevent such situations.

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One such instance is the CEO at Binance, CZ. Changpeng Zhao is trying to push all levels to give crypto worth its value in this industry, which many of the investors and experts apart are intending to do. One such reply on above tweet explains it all:

Changpeng Zhao Makes A Bold Statement About Amazon

According to the Binance CEO, Changpeng Zhao holding above 277,000 twitter followers “Amazon will have to issue a currency sooner or later”.

This all began with a tweet by the founder of Binance comment that he is not getting the point why any e-commerce business is not ready to accept crypto payments, even listing few basic facets and benefits regarding cryptocurrency providing over traditional payment methods:

Then replying to the tweet by “Crypto Dan, The Crypto Bull” saying that once Jeff Bezos initiates accepting crypto, space will follow. CZ replies back:

This statement prompts CZ to proclaim about Amazon will have to issue a currency sooner or later. The crypto adoption in every basic sector is what the cryptocurrency industry is waiting for!  Since many years with bated breath.

Though, adoption of the nascent blockchain tech within banking and payment sector initiated by the leading online retail behemoth will surely open the floodgates soon to mass adoption. This seems the big breakthrough moment for crypto to make its way even better.

Reason Amazon Is Neglecting Crypto

Talking about Amazon, back in 2014. It said that they would not adopt bitcoin as customers believe this is not right for them. This straight away signifies while popular demand hits a critical mass. The giant Amazon might think of accepting crypto payments with basic coins.

The wider use of bitcoin to buy online goods, wider the acceptance as a whole. As Zhou seems Amazon implying is inevitable to issue its own cryptocurrency. This might announce another major coup for this firm.

The fame and struggle have made the founder and CEO of Amazon the richest man over this space. The history behind this influencer has been leveraging which passed over every competency. Also, the company creates for raising more ambitious ventures.

Meanwhile, Amazon can still become a major issuer of currency over this space which itself is a firm that initially started as a bookstore. However, this might not work due to its versatility as a currency which can’t be spent with any merchant. So, it is better for Amazon to let it go off by just accepting bitcoin apart from issuing a cryptocurrency of its own. Even, this condition is not a matter for them with some recent issues with the company.

On the other hand, Amazon has been making its route towards patents related to blockchain over the last year. They have been working on subsidiaries of the Seattle operating retail titan for cryptography and distributed information storage solutions. Moreover, a data marketplace which analysts believe it can be integrated with cryptocurrency payments within the wide Amazon shopping platform. So, this might work out in the coming future.

Various Organizations Accepting Cryptocurrency

The crypto industry has been rising with the speculation over the industry to start implementing crypto and blockchain. Considering Amazon to play their next move, there are various other good players competing this firm in terms of accepting cryptos.

The recent one that we are watching signs from Overstock Inc. That made headlines back in 2014 initiating to accept bitcoin. This company has been influencing its stream by coming with back to back news regarding some good news.

Overstock is an early adopter in comparison to other online retailers that introduces its partnership with Coinbase just to adopt bitcoin as a payment system for its inventory regarding rugs, home furniture, outdoor equipment, decor, home improvement, kitchen appliances, jewelry, bed and bath supplies, apparel, and electronics.

Indeed, this was a risky, bold, and visionary step at that particular instance to accept user’ digital Internet nerd currency rather than cash.  And it is backed by a government agency and central bank. This was an incredible play!

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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