Cash Is a Discontinued Model – Cryptocurrency and Digital Currency Trending

By Steven Anderson August 22, 2019 0
cryptocurrency cash

Patrick Gaulthier, Amazon Pay vice president, made it very clear that Amazon will not be entering into the speculative areas.

Despite the declaration from Amazon Pay Vice President, investors from across the world have been expecting Amazon to join the list of technological giants who are beginning to launch their cryptocurrencies.

The rumors about Amazon began when the company registered three domain names for its blockchain and cryptocurrency-related domain names.  While this news is not proof that Amazon is venturing into the cryptocurrency industry, it is now proposed that the company might have registered these domain names to protect its brand identity.

However, it is known that Amazon is developing on its capabilities to launch a cryptocurrency.  They have a fully managed blockchain service, which is meant for the development of scalable blockchain networks.  Amazon QLDB is a fully managed ledger database, which is mainly used to develop blockchain applications.  The company has a broad consumer base, and when coupled with its capabilities to launch a cryptocurrency, Amazon is one of the most eligible companies to enter into the cryptocurrency space.

Therefore, discussions are on about whether Amazon would rethink its strategy considering its potential and capabilities to launch its cryptocurrency.  It is Libra from Facebook, WMT stable coin from Walmart, and whether Amazon will come up with one of its own is something that time would dictate.

An Austrian Telecommunication giant is all set to accept cryptocurrency and would permit payment using cryptocurrency in specific locations.

A report from Austrian tech news site Futurezone states Dash, ethereum, litecoin, stellar and XRP will be available for payment.  “Cash is a discontinued model” per Markus Schreiber.  He further said, “With our pilot operation in the A1 shops, we will test demand and acceptance of digital currency in Austria.”

The payment method, according to FutureZone, is not only focused on locals but also on the tourists.

In a recent survey, it was revealed that one in 5 Turks make use of cryptocurrency.  Turkey is reported to have the highest rate of cryptocurrency adoption rate.  However, due to the lack of legislative framework across the world, the risks of cryptocurrency trading are heightened, and there seems to be no hedge.

Though there is no clear legislative framework for regulating cryptocurrency trading, it is not illegal to trade cryptocurrency in Turkey.

Kurtuluş, chairman of the Blockchain Association of Eurasia, stated, “Turkey also needs to closely follow the trend for legal regulations on blockchain investments and focus on the tax-related legislation.”