Amazon and the Crypto Space continuum
By late 2017, Amazon fills the informal avenue of communication with whispers of a strategic positioning into the crypto space. A rather timely buoyancy for the current market state as rumours of the space exploring Jeff Bezos is either to build an exchange or develop an Amazon native cryptocurrency. However speculative at this point, an indulgence to assert opinion from blockchain enthusiasts makes up for the lack of tangible evidence.
So how does Amazon impact the warring states of cryptocurrencies?
The old guards
Many believe that the purists of the crypto realm are among the ranks of innovators and miners. A dynamic synthesis between both perpetuates a steady momentum of the blockchain. Innovators for their creative contribution, while miners as the faithful proponents of these innovative technologies. Amazon, in its consumer based design, may suffer rejection on the premise of values.
One example is the Ethereum hard fork implemented to retrieve siphoned off funds sustained by The DAO. Many were disillusioned by the proposed actions to resolve the exploit as it threatens to defile the core principles of the blockchain. Those who believe that “code is law” above anything, chose to stay with the original Ethereum spirit and it’s precepts. Thus, the existence of Ethereum Classic.
Vanguards of the old philosophical platform and students of true visionaries are amongst us. They have taken post as gatekeepers, preserving what is left of the blockchain’s once proud beginnings. As such, a powerful multinational corporation disqualifies the criterion of these remnant philosophies. In fact, their very existence is what violates it.
Many have scoffed at the idea and dismissed it as some giant tech corporation capitalising on the recent crypto popularity, and that a Fortune 500 company will fail to acquire allegiance of the old guards — the miners.
However, a Fortune 500 company like Amazon can pay for its own blockchain many, many times over. Even twice on Sundays.
Whatever it takes
A friend spoke of an occultism endemic in today’s crypto sphere. His valued opinion is a stark reflection of the truth, evident in the coarse behaviour amongst competing crypto technologies. Consequently, the desire for organic adoption is met with discouragement by the highly divisive world of cryptocurrencies. Amazon, and it’s rumoured brave venture into the crypto wild west, may serve as a plausible factor to alter this paradigm of chaos by Kool-Aid.
“Don’t drink the Kool-Aid man.“ — Matthew McConaughey
Known for incorporating innovative concepts from recorded customer buyer behaviour to machine learning and drone deliveries, Amazon leads the industry in e-commerce and internet retail. Through its forward thinking implementations, the tech giant boasts of the largest revenue worldwide — $177.86bn in 2017. With this, a move into the crypto space implementing a native token for their retail services will foster mass adoption by default.
It is an effective introduction to the unbiased. Compulsory education of an Amazon token use case or via a proprietary integration, indirectly establishes consumer awareness. Through enforced utility within their vast network of services, an understanding of cryptocurrency mechanics is instilled amongst dependent consumers and loyal patrons.
So how is this good for the crypto space?
What many fail to acknowledge outside of the primary concerns of investment returns, is the critical notion of coalescence. What is good for competing technologies is good for the evolution of cryptocurrencies. As of recent market sentiment, adoption is crucial for liquidity if not survival. Thus, a restoration of confidence in a homogenised society is a picturesque priority.
Amazon, in it’s rumoured descent into the dark abyss of the crypto realm, may carry forth it’s founder’s motto of Gradatim Ferociter — step by step, ferociously. That it may echo loud enough and re-open the floodgates to revitalise a dwindling crypto liquidity. Within the crypto continuum, such migration benefits all known purpose of association be it speculator, investor or purist. It caters to all participants in the compact connected metric space of the blockchain.
Please tell us what you think. Whether by scornful disagreement or harmonious accord, BlockchainIT would love to hear your thoughts.
