Amazon, Alibaba and Tencent could make ultimate cryptocurrencies

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. 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.

Amazon has recently purchased cryptocurrency domain names.

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

AWS (Amazon Web Services) CEO Andy Jassy said AWS was not developing a blockchain service at this time.

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.”

1 thought on “Amazon, Alibaba and Tencent could make ultimate cryptocurrencies”

  1. Eh … the whole point of Bitcoin and Ethereum and the like is that they are decentralized. If you want centralized electronic money, PayPal and Venmo already exist. Amazon has a credit card business (which I am a customer of–love those reward points). Or Amazon could join a centralized blockchain like Hyperledger or Ripple.

    What’s even the point of Amazon having its own money? Money is supposed to be how Amazon exchanges value with companies and customers that aren’t Amazon. Would Amazon start issuing script like a Scotting free bank? Why? That’s honestly not super-profitable and it’s highly regulated.

    There are also already teams that are making new kinds of decentralized money all the time; both Bitcoin forks like B Cash and B-Gold, and all new coins like Zcash, Filecoin, and Chia. Why does Amazon or Alibaba have an advantage over them? They’re raking in tons of cheap capital from venture capitalists and initial coin offerings, so Amazon having money to burn doesn’t seem like a great advantage.

    I just don’t see it.

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