The world had gone crazy for cryptocurrencies in the midst of 2017. Are they going to rage? Are they a bubble which can burst anytime? Will they change the persistent of transactions?
Online giants can answer these questions better as their involvement in the cryptocurrency industry matter a lot. Recently, there have been speculations that Amazon may accept Ripple which may set the future of the currency in stone.
Like Bitcoin,“Ripple can emerge as one the new primary cryptocurrencies to shape the future of digital business,”experts reveal.
Ripple (XRP) scores a first when it comes to a system that has proven use cases in the world of the blockchain. Since other altcoins are busy to come up through their partnerships and infrastructure, Ripple has already set its pace in various sectors, for example, the banking sector, with so many experts using it as the payment platform or others, and now it is about to transform the e-commerce industry with the help of Amazon.
Ripple has been the natural serve provider for over 75 banks globally, which is one of the prominent reasons for the falling of Amazon for Ripple. Isn’t it? E-commerce giants’ partnerships with Ripple can transform their businesses as they will be able to entice millions of customers of Ripple globally.
After going through speculations, asking experts and brain draining on the future relationship of Amazon with Ripple, I have able to find out the reasons why Amazon can turn to Ripple.
Exceptional features of Ripple
Three fundamental elements that contribute to the success of Blockchain technology are speed, cost, and time. In early years of cryptocurrencies, the doubt, instability, and scams regarding digital currencies did not let investors and potential partners like Amazon step into the blockchain.
Fortunately, the XRP’s rate of acceptance is quite high. Being a virtual currency reservoir, Ripple is a suitable option for Amazon when it comes to micro-payment level. Moreover, the speed and fees of the transaction of ripple are much lower as compared to Bitcoin. In case Amazon partner with Bitcoin, users may have to pay a high transaction fee. They may have to even compromise on speed because Bitcoin transactions take a long time to get confirmed due to congested Bitcoin Blockchain.
Ripple will shield Amazon against volatility
Ripple can lower the volatility level, presenting itself the best option for Amazon, as it has a sizeable supply in the market. What makes it better than the rest for other strategic partners is the price, which drops by pennies or cents as compared to the Bitcoin price, which falls over $1000.
The limited supply of Bitcoin usually enthrals new investors. The highest amount is 21 million that will be ever mined. Therefore, the scarcity of BTC can upset investors in the future. In contrast to it, Ripple has a max supply of 100 billion, out of which parent company has held 55 billion in escrow. This is about 4700 times the supply of Bitcoin. The Ripple’s high supply results in lower price-per-coin of XRP, which is difficult to see in Bitcoin. Cryptos price is likely to increase over the coming years with more investors bring more money to the table. However, the price of Ripple will stable, which will lower volatility.
Will Ripple and Amazon become partners?
A number of companies and Fintechs are moving to Ripple due to its high transaction speed of 3.3 seconds and low transaction fees of $0.0004. This has lead to speculations that Amazon may join hands with Ripple due to its growing hype.
Ripple’s mining pool is growing wider; therefore, it has managed to attract many tech giants across the world, and now the turn is of Amazon.