The online commerce giant has put an end to the issues of creating its own cryptocurrency. The company has no such plans for the coming years.
Amazon won’t follow Facebook – This was stated by Vice President of Amazon Pay Patrick Golte, he was speaking at the event “Fortune Brainstorm Finance 2019”. The problems of issuing its own cryptocurrency has risen again when the recent announcement of Libra has been released by Facebook. Despite the general hype, Amazon does not want to participate in this digital race.
He noted that Facebook cryptocurrency is too premature a step in the current realities. In addition, he described the fact of launching the project as speculative.
“It’s fresh and speculative. At Amazon, we are not engaged in speculation, now. “
Despite such a reserved position, Goltier very clearly hinted: in 2-3 years his company could easily release its own cryptocurrency.
“We at Amazon are working with large amounts of data, so I will return to this conversation once in 2-3 years.”
It’s not quite clear why a Amazon representative considers the release of Facebook cryptocurrency, to be too premature. Considering the support and audience the Libra project will receive at the start, the digital currency can become not only the most liquid cryptocurrency in the world in a few years, but also compete with Fiat in popularity. For Amazon, entering the market in a few years may be a belated decision that will not allow them to squeeze the most out of such an innovative project.
However, with the Amazon audience and in 2-3 years it will be possible to create quite a popular currency. Companies can only hope that by that time the whole world will not sit tight on Libra.