The CEO of Binance, Changpeng Zhao has spoken out to the cryptocurrency community to put pressure on Amazon, the e-commerce giants that Zhao believes really need to start thinking about launching their own crypto, sooner, rather than later.

This stems from CZ’s belief that any internet based giants simply can’t just deny the fact that cryptocurrencies exist, it’s vital that they start to recognise cryptocurrency as a payment option because the proof is in the pudding, crypto payments can help to improve the service of the likes of Amazon.

According to CCN, CZ has said:

“For any internet (non-physical) based business, I don't understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography. Amazon will have to issue a currency sooner or later.”

How would an Amazon owned crypto work?

CZ does have a point here, all internet based businesses will one day have to accept cryptocurrency payments as they are faster, cheaper and also more transparent. As crypto becomes bigger and better, more people will start to use it. The likes of Amazon will start missing out on custom, when they start to turn to other e-commerce providers that do accept cryptocurrency payments. Therefore, Amazon really need to start thinking about accepting payments, or they risk falling behind in the trend.

Amazon have two options, they could just start to accept Bitcoin payments, though this is a little boring. A more exciting concept would come with the launch of an Amazon backed cryptocurrency, perhaps a stablecoin that allows you to buy products on Amazon, or maybe even a more traditional based cryptocurrency, built into an Amazon led exchange or something similar.

There are a whole host of options available here - therefore a blockchain revolution in Amazon will be one that is diverse, and super exciting, once Bezos and the team eventually start to open up to crypto. For now, we’ll just have to rely on CZ tweeting about this to his 277,000 followers in the hope that some pressure starts to build. Will 2019 see the launch of an Amazon led cryptocurrency, perhaps not. 2020 however could be a very different story.