Many believe that Bitcoin with a price over $10,000 and a market valuation of $176 billion are unstoppable and will remain the dominant cryptocurrency. In the past there were other products and companies who were commonly believed to be insurmountable in their dominance. Netscape for browsers. Internet Explorer for browsers. Yahoo in search. IBM in computers.
Bitcoin has technical flaws. In particular the low number of transactions. Bitcoin is not that widely accepted for payment. There is development in Bitcoin but clean slate programming is faster. If the end goal are cryptocurrencies that significantly displace the US dollar and other world currencies then which companies are best positioned to launch world dominating cryptocurrencies ?
Amazon has a few million merchants, ships billions of products and has about 100 million prime members.
Jd.com is the number two online retailer in China.
Tencent has nearly a billion users.
They each have the funds and developer resources to swamp what Bitcoin has.
Jeff Bezos personally has over $100 billion (over half the entire market value of Bitcoin) and has funded his own rocket company.
Amazon and Alibaba have large cloud computing systems.
The Chinese companies could either go independently or collectively with backing from the Chinese government.
Cryptocurrency dominance would be too profitable to permit to just go to Bitcoin.
If the discussion is about replacing currency for $100+ trillion world economy then the endgame will not just be about Bitcoin.
Amazon has talked about replacing and dominating world logistics (trucking and shipping and air freight). Would Amazon leave global finance off its list of world dominance ?
AWS lying about not developing blockchain service
Jassy seemed anything but enthused about the prospect. In his view, there aren’t a lot of use cases of the blockchain “beyond the distributed ledger.” He also stressed that AWS doesn’t “build technology because we think it is cool.”