Ripple executive David Schwartz is analyzing the prospects of an Amazon-minted crypto asset.
Speculation on Amazon’s potential interest in entering the industry has been a hot topic in crypto circles for years, fueled by the company’s patent filings and domain purchases.
In a new post on Quora, the chief technology officer at Ripple says he doubts the online retail giant will launch its own digital asset for its 200 million users anytime soon. Schwartz cites the difficulty in converting crypto assets to other currencies as the main factor that will keep Amazon out of the crypto movement.
“…that’s not a particularly convenient way to make a currency.
Imagine if you had one currency that you were paid in, one currency that you had to pay taxes in, one currency that you used to pay your rent, one currency that you used to buy groceries, and so on. That would be a confusing mess. Not only would you incur