In 2021, the hottest celebrity in the world was Tesla founder Elon Musk, who was the richest man in the world for a while. However, he was recently overtaken by Amazon founder Jeff Bezos due to a pullback in the cryptocurrency market.
According to relevant information, Jeff Bezos, the 57-year-old founder of Amazon, currently tops the Forbes list of the world’s billionaires with a value of $177 billion. Unlike Musk’s high-profile and purely circle financial investment, the revenue and growth of Amazon’s business empire can be said to be indeed contributed by the blockchain industry, while the richest man’s layout for the blockchain industry is also in the midst of a physical and low-key effort.
Amazon’s blockchain past
Conservative in the cryptocurrency circle, radical in the chain circle
Although Amazon Cloud (AWS) is arguably the largest infrastructure provider in the blockchain world, Amazon has declined all invitations to prepare to accept any cryptocurrency schemes on its platform.
Tom Taylor, head of Amazon Payments, has said, “Bitcoin is obviously getting a lot of attention and we’ve considered it, but we haven’t heard of any customer mandates to add Bitcoin payments and Amazon has no mandate plans to promote Bitcoin.”
Some Amazon engineers have also revealed that there have actually been many discussions within the company about whether to accept bitcoin payments, but because it is highly volatile, it can cause problems with refund rebates and other issues.
Perhaps the traditional giant’s baggage is too heavy, when Amazon turned away direct circle payments, however, in the pure blockchain technology, did a lot of exploration. In February this year, Amazon founder and CEO Bezos announced that in the third quarter of this year, the post of CEO will be transferred to Andy Jassy, the head of AWS.
In fact, as early as 2018, Amazon has made a lot of layouts in the blockchain industry. AWS launched blockchain products under the leadership of Jassy: Amazon Quantum Ledger Database (Amazon QLDB) and Amazon Managed Blockchain, officially entering the blockchain industry.
Amazon Managed Blockchain currently supports Hyperledger and Ethernet frameworks. Customers only need to choose their favorite framework and configure node members to build a secure blockchain network and support applications with tps of millions of times, and its customers are currently internationally renowned companies, such as Accenture, AT&T, Nestle, etc.
Another product Amazon QLDB that is a new type of database, it has transparent, tamper-evident, and verifiable characteristics, supply chain, financial industry, manufacturing and human resources business customers, can use it to create a common account to record all the changes, etc..
In November of the same year, Amazon was granted 2 blockchain patents: protecting the integrity of digital signatures and improving methods for distributed data storage. A month later, Amazon announced a partnership with R3, a consortium of more than 200 traditional institutions founded in 2015, including Ping An Group of China, Toyota Finance, Mizuho Bank, Santander and others.
The R3 Alliance has been in the limelight during the last round of bulls and bears, and now has the momentum to fade away. At the time, R3’s Corda platform became one of the first distributed ledger technology solutions (DLT) on the AWS marketplace, which allowed for the deployment of decentralized post-applications to the AWS platform and the creation of new applications directly.
Bezos’ cryptocurrency ambitions
Recently, a number of rumors have been circulating that Amazon is secretly developing its own cryptocurrency. According to reports, Amazon is developing a new digital currency that users can use on its platform, users can exchange cash into this digital currency and spend it on the platform, the project will first go live in Mexico to experiment, and then will be promoted in other emerging country markets.
Amazon also put out a job posting for “digital and new payments (DEP),” which stated, “We’re building a technical team to build innovative payment products for customers in new markets. But the job posting was quickly deleted, and Amazon has not made any public response to it.
We can hazard a guess that e-commerce, one of Amazon’s most important services, has been fully penetrated in regions of countries where credit card payments are relatively mature. In other developing or third-world countries, banking services are not provided to users on a large scale, and users are still limited by the payment method when making online purchases.
Of course, this is not Amazon’s only attempt at a digital currency program. The technology giant has already started in 2013, has released a virtual currency called Amazon Coin, users can use it to get Kindle and Android app offers, Amazon Coin’s current use of the scene is still relatively limited. At the moment, it seems unclear whether Amazon Coin is related to DEP.
And, Amazon had purchased a large number of cryptocurrency-related domains. In 2013, Amazon bought Amazonbitcoin.com, a domain name that jumps to Amazon’s official. Since then, Amazon has registered three more domains related to cryptocurrencies: identity.amazonethereum.com, amazoncryptocurrency.com and amazoncryptocurrencies.com.
The official rhetoric for this is to protect the brand and avoid fancy domain names from being snapped up by others, but this has been interpreted by many in the media and civil society as window dressing.
Passive to be the largest infrastructure provider of blockchain
If the previous article is all about Amazon’s proactive approach to the blockchain industry, then the next is to talk about how Amazon has passively become the largest infrastructure service provider of blockchain.
There is a point in the circle that has been flirted with a lot – a large number of public link points are hosted by AWS, is blockchain really decentralized? For example, the second-ranked market capitalization of Ether, as a pioneer of smart contracts, in the face of other public chains and even standalone coins, the community often considers itself decentralized enough to be completely independent of sovereign states, financial institutions and corporate themes.
While ethereum nodes, developers, and users come from all over the world, one study reported that 61.6% of ethereum nodes actually run on the cloud, with cloud service provider Chainstack claiming in 2019 that AWS indirectly operates 25% of ethereum nodes. More seriously, these nodes aren’t really scattered around the world; 34 percent of Ether’s cloud nodes are in the United States.
If Bezos has evil intentions and wants to launch an attack on the ethereum network, then by bringing down the network hosting these nodes, whether out of a technical attack on the ledger or a panic sell-off by users, eventually the price of ethereum Tokens is bound to be affected as well.
In addition to node hosting, AWS is also one of the server providers for the centralized platforms, the number one player in the cryptocurrency world. There is no exact data here to support how many platforms have deployed their servers on AWS, but we can get a glimpse of a few AWS outages that have triggered exchange downtime.
In November ’18, well-known local trading platforms Upbit and Coinone had to suspend their services as AWS was hit with a service terminal in South Korea. This year, the cooling system of AWS’s node in Tokyo lost power, causing temperatures to rise, which in turn caused a series of platforms such as Firecoin, Matcha and Coinone to experience major or minor outages one after another. As you can imagine, without the services of AWS, a large number of platforms will not be able to move forward.
Amazon’s cryptocurrency prospect is unimaginable
Doge, the dog coin of the first two weeks, is said to be a fire to break the circle, nearly tripled in one day, attracting the traditional software retail giant Newegg to consider accepting dog coin as a payment option, in addition to more than 130,000 people signed a petition calling on Amazon to accept dog coin as a payment method.
If Amazon does incorporate cryptocurrencies into its payment system, not counting the publicity effects of the broken circle, it will also significantly boost the overall cryptocurrency market cap. According to Amazon’s Q4 2020 earnings report, its annual revenue reached $386 billion, and if all users paid in cryptocurrencies, the market size of cryptocurrencies would grow by 35.41%.
With more and more traditional institutions entering, will Amazon, as an Internet company that has benefited from the blockchain industry and is also paying attention to it, really embrace the crypto world fully this time? Let’s wait and see.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/after-musk-bezos-cant-sit-still/
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