Is a Crypto Coin for Amazon a good idea?

in cryptocurrency •  last year

I think a great example of crypto currency application could be an Amazon coin. Amazon is already selling anonymous gift cards in every pharmacy. It is also offering its own credit card that can be used to pay for Amazon products, and if you use this card you'd get 5% discount.

I think Amazon should combine these two concepts and create an Amazon Coin. People will be able to buy it psiudo-anonymously with Amazon gift cards or anywhere cryptocurrencies are traded. Valued at $1, this coin should be accepted as a payment on all Amazon websites with the same 5% discount. As a dollar based cryptocurrency, this coin could be stable and trusted and could be used for myriad other applications, as a payment method on other merchant websites, or as a money transfer medium, etc. Amazon even can pay their suppliers with Amazon coins (does anyone wants to wait 60-90 days to get paid or would you rather get the payment in coins right away).

My understanding is, Amazon is trying to get into financial services. This coin could be a perfect vehicle for it. By issuing these coins (selling coins at $1 a piece) Amazon will be receiving an interest-free loan from investors, and if it is market cap Amazon is after, they can offer a small interest rate on the coin (1 - 1.5 percent annually). This should be sufficient to accumulate substantial assets.

Com'on Jeff Bezos, join the revolution!

Dan Raykhman, Founder
Fungble.io

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