As the popularity of cryptocurrency increases, we’re slowly seeing mass adoption take hold. Most recently, Pornhub partnered with Verge (XVG), as well as several other major players in the online porn industry.
Pornhub is by far the biggest online porn website on the planet, and perhaps one of the largest companies ever to start accepting cryptocurrency. With over 3 Billion visits every single month, Pornhub have set the standard for online commerce.
They’re the 7th most visited website in the US, and it’s a move which brings cryptocurrency even further into the spotlight, one which will be hard for other companies to ignore.
You can read the official announcement by Pornhub here (don’t get too distracted), but at the moment anyone visiting the site Pornhub.com, all 3 billion per month of them will see the banner at the top announcing they now accept the Verge cryptocurrency for premium memberships!
It’s undoubtable that other large players are making considerations and preparing to enter the cryptocurrency world. A game changer would be Amazon!
You can already buy Amazon products using Bitcoin through third party services, however an integrated service direct from Amazon would be monumental!
Amazon and Cryptocurrency
Amazon is the largest ecommerce store in the world, service millions of customers all around the world. More popular than Pornhub, they’re the 4th most popular website in the US!
It was reported late last year (2017) that Amazon had purchased several cryptocurrency based domain names, which some members of the community speculated the company had intentions to begin accepting those cryptocurrencies.
Amazonthereum.com, Amazoncryptocurrency.com and Amazoncryptocurrencies.com were purchased, yet it seems the company and CEO, Jeff Bezos are still keeping their cards close to their chest as no official announcements in relation to the company accepting any particular cryptocurrency has been released.
An announcement would undoubtedly cause a surge in demand of epic proportions for whichever cryptocurrency they accept, if any.
The cryptocurrency market is still young, regulation is not yet in place, markets are still extremely volatile and for a company who’s success and profitability rests solely on the trust of it’s users, it may be too early at the moment for Amazon to begin accepting a pre-exisiting cryptocurrency.
Could Amazon make their own cryptocurrency
With the negative stigma associated at the moment with ICO’s, given the number of scams, such as Centra Tech, the biggest ICO scam yet, project failures, and loss of user funds, it’s highly unlikely Amazon will ever consider launching an ICO, at least not until the market matures. They’re not in need of public funding either so an ICO from Amazon is highly unlikely at the present moment in time.
Amazon were pioneers in ecommerce. They made online shopping accessible for millions of people all around the world. While the world is still transitioning and ecommerce and Amazon are growing at dizzying speeds, so too is the need for a better and more practical form of currency.
An Amazon cryptocurrency could have the potential to be one of the most successful ever created. Demand is vital for the success of any digital currency, and to spark demand there must be a use. In 2017, Amazon generated $177 Billion in revenue! Imagine that level of demand for a cryptocurrency and how valuable it could potentially be.
Although the system Amazon uses works perfectly for them at the moment, as the world slowly starts to move toward preferring digital currencies instead, it’s only a matter of time before they begin the transition. Amazon have always been ahead of the curve and we’re certain they will continue the trend when it comes to digital money.
The volatility of cryptocurrencies are almost certainly a major sticking point for Amazon moving forward with the integration of digital currencies.
Markets can move hundreds of percent in just a matter of minutes, meaning for those shopping online, the value of their funds and what they can afford in their basket is constantly changing and fluctuating.
A stable cryptocurrency is what’s needed, but in such a connected world where everybody has instant access, the price is going to wing wildly unless an innovative solution can be implemented.