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Re: Does it make sense for Amazon to develop its own Stablecoin?
Hi all,
Would like to learn your thoughts on whether Amazon should develop its own Stablecoin or leverage an existing Stablecoin, like USDC and USDT? Understand that Libra from Meta failed, but Amazon should have a larger volume regarding cross-border transactions and payments. Welcome any thoughts on the topic and any referrals to existing cost-benefit studies on this (not sure if the big consulting firms have researched the subject). Thanks!
Would like to learn your thoughts on whether Amazon should develop its own Stablecoin or leverage an existing Stablecoin, like USDC and USDT? Understand that Libra from Meta failed, but Amazon should have a larger volume regarding cross-border transactions and payments. Welcome any thoughts on the topic and any referrals to existing cost-benefit studies on this (not sure if the big consulting firms have researched the subject). Thanks!
Having their own stablecoin will greatly help in cross border transactions. With their own stablecoin, they will be effectively saving a huge amount of money from bank fees and what not! But Amazon should not launch a public stablecoin like USDT or USDC. Large organisations which are focused in certain type of businesses, should remain their focus intact.
However, if they want to reduce the fees paid to the banks for cross border or even inter-department payment, stablecoin is a great alternative. That reduces a lot of dependencies.
Hi Avikz,
Very happy to learn your thoughts! Do you have an estimation on what percentage Amazon could save by shifting to Stablecoin? To be more specific, any ideas on the compliance cost of Stablecoin, given that it is currently not 100% under regulation, like Tether? Thanks.BTC
Does it make sense for Amazon to develop its own Stablecoin?
Hi all,
Would like to learn your thoughts on whether Amazon should develop its own Stablecoin or leverage an existing Stablecoin, like USDC and USDT? Understand that Libra from Meta failed, but Amazon should have a larger volume regarding cross-border transactions and payments. Welcome any thoughts on the topic and any referrals to existing cost-benefit studies on this (not sure if the big consulting firms have researched the subject). Thanks!
Would like to learn your thoughts on whether Amazon should develop its own Stablecoin or leverage an existing Stablecoin, like USDC and USDT? Understand that Libra from Meta failed, but Amazon should have a larger volume regarding cross-border transactions and payments. Welcome any thoughts on the topic and any referrals to existing cost-benefit studies on this (not sure if the big consulting firms have researched the subject). Thanks!
They have already spent a lot of money for their Libra project but it didn't materialized.
Will Meta's entry into the stablecoin sector have a positive impact on the crypto market?
Maybe but they have tried it already but they failed.Will Meta create a new stablecoin or leverage existing stablecoins on the market?
They should bet on the existing ones. It's going to cost them a lot although they have the edge since they're one of the biggest social media platforms globally.Are you confused by the dozens of stablecoins currently available?
Nope.Hihi! Happy to learn your thoughts on why the Libra project failed? As the largest social media platform, is there enough client volume for cross-border payment? Is there any chance Amazon, the heavyweight in cross-border logistics, could succeed in issuing its stablecoin?
Stablecoin is all about trust and transparent reserve.
They already got the trust and if they can provide transparent reserve audit, I'm sure people will use their stablecoin.
Their only concern is how to make Dex and Cex use their stablecoin because that's where the trading volume comes from.
If limited amount of cex and dex are using their coin, it will be like PYUSD, exist but still in different league compared to USDC and USDT.
They already got the trust and if they can provide transparent reserve audit, I'm sure people will use their stablecoin.
Their only concern is how to make Dex and Cex use their stablecoin because that's where the trading volume comes from.
If limited amount of cex and dex are using their coin, it will be like PYUSD, exist but still in different league compared to USDC and USDT.
We have a lot of stable coins already, so it's just weird that suddenly Meta wanted to have their stable coins, but they have their reasons for sure. So it's not that easy to gain trust, maybe if this is still in the beginning, they will have the reputation and transparency.
As what we have seen before, during the 2018, there are a lot of questions on USDT and accusations against them of running in fractional reserves and they don't want to be audited by authorities. But still they continue and dominated till today, so that is a big task on Meta on how they will gain the trust and consensus.
Hi! Would like to learn your thoughts on why Tether can maintain its dominant market share while keeping its opaque reserve management scheme. Only because they are the first? Any other reasons behind?