Expect Ripple (XRP) – Amazon (AMZN) Partnership Speculation To Rise Again
Some things can’t just go away, however much we may want them to. Such is the situation when you try to understand the constant speculation about a partnership between Ripple (XRP) and Amazon.com (AMZN).
The rumor that first began the speculation frenzy appeared early December 2017. Since then, the word on the street in 2018 is that this is a deal all but waiting to be sealed.
Why the constant speculation about an Amazon deal won’t end soon?
The reasoning is hinged on Amazon’s need to integrate their business with emerging technology trends that will help cement their dominance. One of these technological advancements comes in the form of blockchain via cryptocurrency.
This scenario leads to one big question. If Amazon wanted to have a crypto as the payment currency for their giant online presence, what options do they have?
They will likely look at the top 10 or 20 cryptocurrencies. And honestly, not many of them offer as good a platform as Ripple’s XRP. It is scalable, reduced risks of wild price swings and interoperates different networks. Out of the top 10, only LTC comes close to being able to challenge XRP. Ripple’s appeal is the associated end-user experience.
It’s easier for the millions of customers on Amazon.com to relate to payments calculated in XRP than in BTC or even LTC for that matter. The value of Bitcoin makes it unsuitable for the common shopper. Paying for items using 100XRP is easier to understand than 0.0002BTC.
Given a choice, therefore, the former provides the end user experience suitable for Amazon’s business model.
Ripple (XRP) is a popular top cryptocurrency, supporting an ecosystem of brilliant solutions for banks, payment providers, and businesses. The RippleNet offers three blockchain solutions in the form of xRapid, xCurrent, and xVia. All these solutions are geared towards making money move easily, faster and cheaply. Ripple has been relentless in their efforts to have banks and financial providers adopt these solutions.
Major partnerships with banks around the globe have seen its xCurrent platform being piloted and used; payment providers like MoneyGram, LianLian Payments, and others are in the process of using xRapid to source for liquidity. And just the other day, Ripple announced the addition of five new xVia customers to their growing list of users. These are FairFX, Exchange4Free, RationalFX, UniPAY, and MoneyMatch.
According to Ripple, “They will leverage xVia’s standard API solution to power payments through RippleNet and access new markets, including emerging markets faster and more efficiently.”
With more and more businesses utilizing Ripple, it means that it’s only a matter of time before the big boys join the team.
xVia for Amazon Pay?
Amazon’s move to partner some of the major banks to develop a product aimed at the younger generation of consumers and those without bank accounts could be a sign XRP may be used at some point. It also seeks to have Amazon Pay, a payment product in the ilk of PayPal, used at brick and mortar stores. Ripple’s xVia could be a solution the e-commerce giant may consider.
What else may accelerate a partnership?
Competitiveness is a very big part of business management. Therefore, expect to see the speculation gain more currency if another big player like Alibaba decided to integrate one of the cryptocurrencies. It would naturally mean that the others will have to follow suit.
Also to be considered is the recent deal that saw Verge partner Mindgeek. The pioneering influence of the adult industry on technological adoption will play a role in mainstream companies following suit. It won’t be surprising if the Amazon-Ripple speculation gained a lot more momentum in coming days.
However, it is possible that this partnership may not be happening any time soon.
There’s the not subtly hidden fact that Amazon has had their own ideas about the use of cryptocurrency in their business. In fact, when the company moved to register some crypto- related domain names, a lot of weight was added to the fact that it was only a matter of time before the retail giant ventured into cryptocurrency.
Until concrete steps are taken by either side to indicate a possibility, it would be safe to conclude that all these rumors will be just that. It would be wise for investors to temper their excitement to avoid getting carried away. The cryptocurrency industry is still growing and much of what is likely to happen will generate a great deal of hype.