What an Amazon Blockchain Token Might Look Like
An Amazon blockchain token? With Amazon's $500 billion valuation, that could mean that anything's possible.
Amazon is the wealthiest company in the history of the world. Currently valued at $500 billion, it's become clear that Amazon is not just a company. It's a marketplace, a major tech innovator, a production house, and now, it's looking like Amazon might also end up being a major player in the blockchain world, too.
To a point, it makes sense that Amazon would want to adapt blockchain. It is a company that has a notoriously streamlined supply chain process and regularly works to improve upon it. Logistics and supply chains are industries that blockchain is disrupting.
Cryptocurrency experts also believe that an Amazon currency is almost inevitable. So, what would an Amazon blockchain token look like? We decided to take a look at a number of scenarios that are increasingly likely to find out...
The Blockchain Token for Supply Chains
Amazon's biggest strength is the fact that it has one of the most innovative supply chains in the world. No one has been able to replicate Amazon's excellence when it comes to tracking millions of items, getting them shipped out to clients rapidly, and doing so effortlessly.
One of the most obvious ways an Amazon blockchain token could help would be to create a digital ledger that makes recordkeeping for Amazon's supply houses seamless.
A customized token used for supply chain work would probably be one of the first kinds of Amazon blockchain token designs to take flight. It just makes sense.
What It Would Do
Theoretically, this kind of Amazon blockchain upgrade would help Amazon keep better track of items and reduce loss. It also would hold supply chain workers better accountable for any issues that would have happened during the transactions.
Obviously, it's not just a token we're talking about here. It's an entire framework.
Most people agree that an in-house blockchain token for transactions on the supply side of things would make the most sense for Amazon to pursue. Therefore, this is one of the first kinds of blockchain upgrades we'd expect to see—framework and all.
How likely is it?
If there was any Amazon blockchain token or blockchain framework we'd expect to see within a year, it'd be this. Most experts say that this isn't really so much of a "maybe" as it is a "will be."
A Blockchain Token as Currency
The other major Amazon blockchain token that people are expecting to see is a cryptocurrency. Much like with Bitcoins and other Bitcoin alternatives, blockchain currency has proven itself to be a profitable endeavor and also has become usable in a variety of different situations.
Would Amazon make a blockchain cryptocurrency, though? Perhaps. But, it seems likely that they would want to control it with a much tighter exchange base. So, while others would find coins on Coinbase, Amazon might develop its own exchange.
What It Would Do
An Amazon blockchain token that's developed to be a cryptocurrency would act as currency and as a form of investment. In theory, people who would have an Amazon cryptocurrency account would be able to pay Amazon for goods and services like they would with regular cash.
It's also likely that Amazon would use this form of currency as an alternative way to get people to invest in it—much like how other companies use Initial Coin Offerings.
Who knows? Maybe the funds would be used to make more Amazon Original Series. We'd be cool with that.
How likely is it?
Much like with the idea of a supply chain Amazon blockchain token, experts agree that it's only a matter of time before we hear about Amazon's own cryptocurrency. That being said, blockchain technology may be a bit too volatile for Amazon right now.
So, we might actually see new safeguards rolled out before Amazon's own blockchain currency would come out. One thing that might make Amazon's Jeff Bezos a little leery are all the scandals that have come with cryptocurrency.
If we do see this, it will definitely have to be very well thought-out.
A Hybrid Token
The funny thing about Amazon is that they really pride themselves on being innovative, often to the point that we never really know what to expect from them. So, it's possible that we could see a dual-purpose Amazon blockchain token that tackles supply chain issues while also working as a form of currency.
It would be very tricky to develop, but it could be worth it if it's doable. If this were to take hold, then Amazon's cryptocurrency would become the biggest asset the company has—and also would probably leave Bitcoin and every other altcoin in the dust.
What would it do?
In a hybrid situation, an Amazon blockchain token would act as both a digital ledger for tracking items as they're transacting and as a form of currency. It would come complete with an ICO, but would also have multiple functions that would only work with in-house staff members.
Realistically, it would do a huge amount of work that would drop profits through the floor.
How likely is it?
Though it's clear that an Amazon blockchain token is inevitable, it's not very certain that Amazon would choose to do a hybrid token. Aside from having a lot of work involved in designing it, the fact is that it might be a bit too much to handle.
This kind of setup would be very open to tinkering and to a point, may end up being more of a security risk than anything else. Then again, you can never tell what Amazon will be up to next.
So, what would an Amazon blockchain token look like?
It's hard to tell—like, really hard to tell. Amazon is very innovative, and it's very likely that they won't limit themselves to only one type of token. The only real way for us to see what an Amazon blockchain token will look like is to sit back and wait for them to develop it.