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Whenever May Cryptos & Blockchain Truly Increase?

Viewed 106 times28-7-2022 07:28 PM

Every day there is more news about what can, may, and should happen on the planet of Crypto Currencies (CC's) and Blockchain. There's been significant investment, research, and lots of chatter, but the coins and the projects continue to be not mainstream. They have not yet delivered the explosive changes envisioned. Many ideas are being discussed and developed, but none have delivered big game-changing results. What may be needed is for big industry players, like IBM, Microsoft, and the large financial services corporations to carry on forging ahead in developing useful Blockchain applications - ones that depends upon can NOT live without.

Financial services are a fresh target for Blockchain projects because today's banking systems continue to be centered on archaic ideas that have been faithfully and painfully digitized, and because these systems are archaic, they are expensive to steadfastly keep up and operate. Banks almost have a good reason to charge the high service fees they do - their systems are not efficient. These systems have many layers of redundant data, as everyone associated with a transaction really needs their version of the transaction details. And then there is the company of ensuring that there is a reliable alternative party to clear every one of these transactions - requiring even more versions of exactly the same data crypto game.Blockchain technology holds out the promise of addressing these issues, as each transaction is going to be captured in just ONE block on the chain, and because it is really a distributed database, security and integrity is built-in and assured. It might take some time to develop trust in these new systems, given that the verifiers of Blockchain transactions are not the traditional clearing houses that banks use and trust today. Trust by the banks in a new technology will need time, and even additional time is going to be necessary for that trust to trickle down to consumers.

Another company which could soon be ready to offer CC's and Blockchain a large boost is Amazon. It looks like Amazon is preparing to launch their very own crypto currency. This can be a company with revenues how big a good-sized country, and they are ready to issue an electronic digital token that would be fully convertible with other CC's, and fiat currencies too. A move like this may enable Amazon to:

  • issue (AMAZON) coins to reward and incentivize developers on any one of its platforms
  • issue coins to consumers to utilize for in-app purchases
  • issue coins to game players for in-game purchase of virtual goodies
  • issue coins to regular customers included in a loyalty programme

Amazon might have the ideal ecosystem of customers and partners to create this all happen. Worldwide they've about 300 million customer accounts, roughly the people of the USA, and they've 100,000 sellers on their platforms, with millions of items for sale. There is hardly a more mainstream company than Amazon, with a huge, vibrant economy all linked in. Amazon's imminent entry into the planet of CC's may signal the adoption of blockchain technology by mainstream institutions on a sizable scale. What could possibly be just around the corner if an AMAZON coin comes into play is famous brands a DISNEY Coin, a DELTA AIRLINES coin, a CARNIVAL CRUISES coin, a HOME DEPOT coin - you obtain the picture.

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