A recent survey has revealed that some Amazon shoppers would be comfortable buying an Amazon-branded cryptocurrency.
Shoppers of e-commerce giant Amazon would like to be able to purchase a wider variety of products, including cryptocurrency, according to a recent report published by a financial portal Investing.com.
In the course of the survey, Investing.com reportedly surveyed over 1,000 Amazon shoppers in order to discover ordering frequency and the trust level customers have in the company. Notably, the survey polled customers on what products they are comfortable buying under an Amazon brand.
When asked what kind of products they feel comfortable buying under the Amazon brand, 12.7 percent of the respondents named cryptocurrencies. Other hypothetical Amazon-branded products included medical marijuana (13.5 percent), prescription drugs (9.3 percent), computers (72.9 percent), coupons and deals (10.6 percent) and even healthcare (15.3 percent). Shoppers were allowed to pick more than one option.
The survey also revealed that nearly one in three respondents made a monthly purchase on Amazon, while 43 percent of the survey participants said they would no longer shop at malls. In regard to age, Baby Boomers responded they spend about $102.14 on Amazon each month, Generation X-ers said they spend around $118.78, and Millennials spend about $123.49.
This week, the CEO of top crypto exchange Binance, Changpeng Zhao, claimed that Amazon cannot avoid issuing its own altcoin. “For any internet (non-physical) based business, I don’t understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography,” said Zhao.
In November 2018, Amazon announced its two new blockchain-related services, Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain. While QLDB is a ledger database designed to provide transparent, immutable, and cryptographically verifiable log of transactions, which is overseen by a central trusted authority, Managed Blockchain product is designed to operate with QLDB, allowing users to adjust and manage a scalable blockchain network.