Startups Team-Up for Potential Giant Crypto Payment Deal with Amazon
Sun, 16 Jun 2019, 22:54 pm UTC
With Amazon being the single largest online retail entity in the world, it only makes sense that the first to enable cryptocurrency payments with the tech giant would become industry leaders. This is exactly what two startups are trying to do with their collaboration to enable Ethereum payments. This move makes so much sense and could potentially change the landscape of e-commerce for years to come.
In a press release, it was announced that CLIC Technology will be working with Opporty in order to bring stable, reliable, and opportune crypto payments to Amazon. The former will be the one handling the payments side of the equation while the latter will be responsible for the actual integration with Amazon shopping.
A lot of this will supposedly depend on an extension that will be placed on a browser that will essentially enable Ethereum users to pay using the cryptocurrency. The way it works is that the cryptocurrency will be converted into fiat as the payment is made, thus, allowing for the payment to be made and it is scalable. This applies to both the speed of the processing and the transactions that can be handled.
As the press release reads: “Traditional Ethereum-based platforms are made to handle, on average, about 20 transactions per second, far less than what is needed for a functioning financial ecosystem. By comparison, Amazon processes upwards of 300 transactions per second, typically making it incompatible with the digital currency.”
This certainly has CLIC Technology CEO Roman Bond feeling excited. He said as much in his statement with regards to this new partnership and collaboration. He has good reason to be, as well.
“Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries,” Bond said. “We’re excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well.”
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