Without a shadow of a doubt, Amazon is one of the biggest firms on the face of the earth. Also, it is quite apparent that Amazon is not satisfied with the position that it occupies. There are rumours that there is an impending partnership between the Ripple company and Amazon. This partnership is expected to materialize before 2018 comes to an end. As it stands, Ripple is a real-time gross settlement firm that deals in the exchange of currency and is popular for its support for flat coins, as well as cryptocurrency exchanges. In recent times, Ripple has been seeking ways to expand into the banking industry, and it appears one way to make this a reality is an Amazon and Ripple partnership. This is happening now because of the growing status of digital currency, and it appears Amazon is looking to be a part of this.
How is the Amazon and Ripple partnership Going to Function
For some months now, there have been very strong rumours of the partnership between Ripple and Amazon. This has sparked up questions about how this partnership is going to become a reality as well as how it will function. Well, for Amazon, the workings of this partnership are quite obvious. Let’s find out some of them.
Amazon is an e-commerce firm, and as an e-commerce firm, speed of transactions is very important. Therefore, Amazon is interested in increasing the speed of its transaction. One of the easiest ways for Amazon to bring about an increase in its speed of transactions is through the adoption of cryptocurrency. Cryptocurrency will not only help increase the speed of Amazon’s transaction, it will also effectively lower the cost of each transaction.
Ripple, on the other hand, was built basically to be used in enterprise. The structure of Ripple’s coin (XRP) would be ideal for Amazon’s business model. This implies that Amazon and Ripple partnership could function properly and will be beneficial to both companies.
How Amazon and Ripple will benefit from this Partnership
With a partnership with Ripple, Amazon could have absolute access to a coin that is globally accepted. With this, transactions can be made from any part of the world and also at a faster speed. Although this in itself is a great achievement, the fact that cryptocurrency is gaining ground into key sectors of the economy such as the banking sector is even an additional benefit for Amazon. Ripple, on the other hand, could see its coin (XRP) rise in value due to its use by Amazon.
Amazon might already be a big company; however, this partnership might just be what it needs to get even bigger than it already is.