Cryptos & Blockchain

Every day there’s more news as to what can, may, and may happen in the joy of Crypto Currencies (CC’s) and Blockchain. There has been significant investment, research, and a lot of chatter, nevertheless the coins along with the projects will still be not mainstream. They have not yet delivered the explosive changes envisioned. Many ideas are discussed and developed, but none have delivered big game-changing results. What are usually necessary is for big industry players, like IBM, Microsoft, as well as the large financial services corporations to keep forging ahead in developing useful Blockchain applications – ones which the whole world can NOT live without.

Financial services can be a ripe target for Blockchain projects because today’s banking systems will still be based on archaic ideas which are faithfully and painfully digitized, and furthermore, as these systems are archaic, they may be expensive to maintain and operate. Banks almost have a very good reason to charge the high service fees they actually – their systems are certainly not efficient. These systems have numerous layers of redundant data, as everyone involved which has a transaction must have their version with the transaction details. And then there’s the business of ensuring that there is certainly a trusted 3rd party to clear every one of these transactions – requiring all the more versions with the same data. Blockchain technology holds out of the promise of addressing these complaints, as each transaction is going to be captured in only ONE block about the chain, and furthermore, as it is a distributed database, security and integrity is built-in and assured. It may take a serious amounts of build up trust in these new systems, given that this verifiers of Blockchain transactions aren’t the traditional clearing houses that banks use and trust today. Trust because of the banks in the new technology will need time, and more time is going to be needed for that trust to trickle as a result of consumers.

Another company that could soon expect to give CC’s and Blockchain an enormous boost is Amazon. It looks like Amazon gets ready to launch his or her crypto currency. This is a company with revenues the length of a good-sized country, and they may be in a position to issue be sure you token that you will find fully convertible for some other CC’s, and fiat currencies too. A move such as this would enable Amazon to:

issue (AMAZON) coins to reward and incentivize developers on any one of its platforms
issue coins to consumers to use for in-app purchases
issue coins to game players for in-game acquisition of virtual goodies
issue coins to regular customers together with a loyalty programme

Amazon might have the ideal ecosystem of clients and partners to produce this all happen. Worldwide they have got about 300 million customer accounts, roughly the population in the USA, and they have got 100,000 sellers on their own platforms, with numerous items on the market. There is almost not a more mainstream company than Amazon, having a massive, vibrant economy all linked in. Amazon’s imminent entry into the concept of CC’s may signal the adoption of blockchain technology by mainstream institutions using a large scale. What could be just around the corner if the AMAZON coin is necessary is the likes of your DISNEY Coin, a DELTA AIRLINES coin, a CARNIVAL CRUISES coin, a HOME DEPOT coin – you have the picture.