Amazon and Łitecoin partnership: a possibility manifested into a future reality

Unlike competitor Ebay, e-commerce giant Amazon albeit being an innovative company when it comes to technological advancements e.g. building the first ever check-out free store Amazon Go and the acquisition of Graphiq a semantic tech company and recently smart doorbell company Ring to name a few, has surprisingly not pursued the same mindset when it comes to modern payment methods for their e-commerce side of business.

Consumers of the e-commerce giant which breathes technology are restricted to only a few traditional payment options.

Last quarter, Amazon was more profitable and generated more revenue from their AWS, their cloud computing service rather than their e-commerce business.

According to CNBC: AWS remains the profit engine for Amazon, which has always operated on thin e-commerce margins.

As an investor, it is assumable that it is time for Amazon Ceo Jeff Bezos to add some focus and invest in the e-commerce side of the business e.g. offer cryptocurrency as a payment option for additional security and maximum e-commerce growth in the long run. By the looks of it, this mere possibility could be manifested into a future reality.

Amazon has already registered three crypto related domains in 2017 according to trade publication DomainNameWire, and recently obtained a patent for a streaming data marketplace (this could allow subscribers to receive real-time cryptocurrency transaction data), therefore it will only be a matter of time before Amazon starts accepting it as a payment option on their online retail platform.

The question remains which one(s). Litecoin, an open source P2P global decentralised digital currency with a market cap of $7.87B would be the most sensible choice as this coin was initially developed by

Charlie Lee

former Google software engineer on the Bitcoin platform also with a PoW algorithm (offering max security) as the silver to Bitcoin for the smaller transactions and therefore absolutely perfect for the e-commerce market.

Bitcoin will be there for the larger transactions but with lower transaction and relay fees (minm 0.001 LTC/kB) and faster transaction speed (2.5min or less even solve exponential scaling and transaction malleability, with Segwit and lightning network LN), Litecoin stands in a strong position to be adopted by merchants for the smaller transactions.

Numerous of online merchants have already taken the initiative to accept Litecoin as a payment option. This includes the following merchants:

• E-gifter
• Coinplay
• Bitcoinshop
• RE/MAX London
• Cheapair.com
• Retrotowers
• All things luxery
• Unlock Base
• Loving Domains
• Xbox Live Trials
• Europay

Litecoin can be securely stored in a wallet on a computer, tablet, phone or laptop and supports numerous of OS.

Litecoin has successfully partnered with:

• Aliant Payments

• TenX

• A second partnership with Wirex is in the works

With the adoption of Litecoin which currently has an enormous base of supporters and a market cap of $7.87B, Amazon could be exposed to a whole new set of consumers increasing profitability through online sales and invested capital generated through new investors. Amazon could see its shares move rapidly to $2000.

Furthermore, consumer behaviour is rapidly changing and it is time for large corporations like Amazon to keep up to date and adopt to the change in consumer preferences in order to prevent the competitor from gaining a first hand advantage.

For more information:

Website: https://litecoin.com

Website: https://litecoin.org

Twitter: @satoshilite

Twitter: @litecoinfoundation

Twitter: @ltc_angel