It is amazing how traditional systems are moving fast to embrace the blockchain. The technology is no longer a fad and is here to stay. The speculation that a Ripple (XRP) Amazon partnership is in the offing might come true before end of 2018 and here are 7 reasons why it is going to happen.
Ripple has partnered with a large percentage of global banks that Amazon has been using to transact its business. With the speed at which XRP has been accepted by financial institution, the ecommerce outfit is set to join the party. This could even come earlier than many crypto enthusiast and Amazon fans think.
Ripple (XRP) Security and Pricing
Price is what any consumer looks at before buying any product or service. Ripple is currently interacting with several banks and financial players in the market simply because it offers low transaction rates. If the consumer goes for the price factor, Amazon will start shedding its market share to Ripple for good and to salvage its current position, a partnership with XRP is a must.
Ripple XRP has two value propositions that Amazon is looking for in a digital coin; a coin that is low on volatility and is affordable to the market. High fees on Amazon have left out a large market segment that it can benefit from. Whether XRP gain traction and the price goes above $5 transactions will still remain at 0.00001 which works for Amazon.
High XRP Supply in the Market
The beauty of Ripple XRP coin is the supply keeps growing and this takes care of volatility. This makes it the right Amazon choice since the amount of XRP coin in escrow can cushion a volatile market. In the event that the market prices surge or go north, Amazon stands a chance to benefits since the consumer will no notice ant huge variances in process.
Ripple has one of the highest circulation supply in the market and this is a good reason enough for Amazon to ink a deal with them soon. Once volatility is taken care of, buying using XRP coins will be easy and more people will opt to use the crypto rather than fiat.
Ripple (XRP) Market Entry Point
Ripple offers the best market entry point for new adopters. Anyone can be able to buy several XRP coins compared to ETC or BTC. Secondly, the two have high transaction fees that holder can spending buying items from Amazon. The more coins are held by the consumer, the more Amazon will benefit since Ripple has already proven to be spendable.
At the time of writing, XRP was trading at $0.596 and this is a god price for the ordinary crypto enthusiast. When you look at the coin from the transaction point of view and look at Amazon pricing from their official portal, many mass focused items are priced at micro-prices and XRP transactions are set to that level.
Ripple (XRP) Addresses Modern Consumer Concerns
Consumers have no business dealing with slow processes; they are looking for systems that offer instant transfers and quick verification processes. If you have used Amazon at some point, there are frustrations. You pay for your product and wait for the merchant to schedule a dispatch. Integrating their system with the Ripple one will eliminate the wait time.
When an item is dispatched without the buyer verifies everything, chances of returns are high and the charge backs involved in some instances is not what the consumer expects. With the speculation heating up in the media about the partnership, you need to keep your fingers crossed and wait a little longer.
Ripple (XRP) Global Reach and Appeal
For some reasons, there are some countries where Amazon is not supported or restrict users from some features like Mturk. With a Ripple partnership, this will be a thing of the past. You can spend your Ripple XRP coins across the globe; it is a universal secure coin based on an immutable outfit where users cannot double spend.
The Ripple XRP xVia, Amazon consumers do not need to have a bank account and this target the age group 18 to 40. This software is ideal for a giant ecommerce site like Amazon. However, we need to wait for an official announcement from the two market leaders on the way forward.