Twitter & Amazon inclines to adopt Crypto currencies and Blockchain technologies

Twitter & Amazon inclines to adopt Crypto currencies and Blockchain technologies

ABSTRACT:

The Twitter CEO - Jack Dorsey has made known to investors that twitter is set to adopt Bitcoin as part of its investments and possibly means of payment and subscriptions in the near future. Next, Amazon followed suit in adopting Crypto currencies and Blockchain technologies as new targeted means of payment.

The Twitter CEO Jack Dorsey has revealed to all Twitter subscribers and investors that Bitcoin will become a very big component of the companys future investment. Probably, he deems it a very fruitful adventure to incorporate Cryptocurrency into the existing Twitter products and services, including commerce, subscriptions and other new additions like the Twitter Tip Jar and Super follows.

Notably, Dorsey has been marked out as an outstanding proponent of blockchain technology and Bitcoin over the years. Hence, his excellent move towards adopting Bitcoin as part of the company investment and possibly means of future subscriptions and payments has been long anticipated. However, the full white-paper and procedures on how this integration would be put into use on Twitters platform is yet to be fully released in details.

In times past, Dorsey had often publicly touted cryptocurrency, always insisting that it reminded him of the “early days of the internet” when people were reluctant to embrace it. But he would confess that there wasnt “anything more important” in his lifetime for him to work on outside this blockchain technologies such as Bitcoin and other Cryptocurrency especially as earliest institutional adopters.

Interestingly, Dorsey has dubbed Bitcoin as one of three key trends for Twitter‘s future, along with Artificial intelligence and decentralization technologies. He hopes to see these come to pass within the shortest possible time. To this end, Dorsey had often touted Bitcoin to investors on Twitter’s second quarter earnings call, saying it could help the company move faster in terms of its product expansions, while explaining that it was the “best candidate” to become the “native currency” of the internet.

Nevertheless, Amazon has followed suit, as if it was a general consensus, and declared through its spokesperson that they are currently set to venture into the new age Blockchain technology, which involves the use of Bitcoin and other Cryptocurrency. According to the official statement released by their agent, “We're inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

Recall that the company's cloud-computing unit, Amazon Web Services, has been offering a blockchain service popularly known as “managed Blockchain.” With this move, it is most likely that Amazon would soon commence accepting Bitcoin and other Crypto currencies as means of payment for its products.

This possibly could be the end results of the unique remarks from Amazon CEO Andy Jassy (then CEO of AWS) back then in 2017, who has been noted to have said that the company wasn't particularly focused on blockchain technology at the moment, but duly acknowledged that Amazon was on the other hand, “watching it carefully”, possibly, to come in at the ripe moment. Hence, we believe that with the increasing popularity for Blockchain technology and Crypto currency as well as the increasing institutional adoptions; no other time, could be more better for Amazon to join the innovative technology other than this moment; in adopting Bitcoin and other Cryptocurrency as their means of payment and Investments.