{"id":386930,"date":"2019-06-20T22:00:13","date_gmt":"2019-06-20T22:00:13","guid":{"rendered":"https:\/\/wncen.com\/?p=386930"},"modified":"2019-06-20T17:08:18","modified_gmt":"2019-06-20T17:08:18","slug":"amazon-squashes-crypto-rumors-as-hype-surrounding-facebooks-libra-grows","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/amazon-squashes-crypto-rumors-as-hype-surrounding-facebooks-libra-grows\/","title":{"rendered":"Amazon Squashes Crypto Rumors as Hype Surrounding Facebook\u2019s Libra Grows"},"content":{"rendered":"
In the past few months the world was shocked to hear that social media giant Facebook was entering the crypto markets with the release of their cryptocurrency dubbed Libra. Although Libra has been met with mixed opinions from both those within the crypto community and those outside of it, many analysts do believe it will ultimately help the markets.<\/p>\n
Additionally, the Libra hype also led to a significant amount of speculation about other major companies releasing similar crypto-themed products, but e-commerce giant Amazon is now squashing these rumors, boldly stating that they don\u2019t deal in speculative technologies.<\/p>\n
Many analysts in the crypto industry believed that Amazon would closely follow Facebook with releasing a crypto<\/a> of their own, and this belief was primarily rooted in the company\u2019s \u201cAmazon Managed Blockchain<\/a>\u201d product through their web services initiative, which seemed to signal an interest in distributed ledger technology.<\/p>\n Despite this, the vice president of Amazon Pay, Patrick Gaulthier, recently threw a wet towel on these rumors, saying during Fortune\u2019s Brainstorm Finance 2019 event<\/a> that now is not the right time to focus on utilizing speculative technologies like cryptocurrency.<\/p>\n \u201cIt\u2019s fresh, it\u2019s speculative; at Amazon, we don\u2019t really deal with the speculative, [we deal] in the now,\u201d he noted while responding to a question about Libra.<\/p><\/blockquote>\n Although for now the Amazon crypto rumors have been put to an end, that doesn\u2019t mean that Amazon won\u2019t ever introduce a product, as Gaulthier said that he would be \u201chappy\u201d to discuss this type of tech further in two or three years.<\/p>\n \u201cAt Amazon, we deal with data a lot, so I\u2019ll be happy to have that conversation two or three years from now,\u201d he later said.<\/p><\/blockquote>\n Although we likely won\u2019t know for certain whether Libra<\/a> is met with wild success until it launches in mid-2020, it does already have a plethora of noteworthy partners that clearly see some merit in its purpose.<\/p>\nIf Libra is Successful, Will Other Companies Follow Facebook\u2019s Lead?<\/strong><\/h2>\n