Amazon Customers to Make Purchases with Ether (ETH) Thanks to Startup Partnership
Amazon Customers to Make Purchases with Ether (ETH) Thanks to Startup Partnership
In a press release issued on June 13, 2019, crypto payments firm CLIC Technology Inc. announced a partnership with B2B blockchain infrastructure company Opporty to jointly develop an in-browser extension that would enable customers to make purchases from Amazon with the ether (ETH) cryptocurrency.
Make Purchases from Amazon with ETH
Amazon customers will soon be able to pay for items using ether, thanks to a strategic partnership between two distributed ledger technology (DLT) startups.
Based on the Plasma Cash design pattern for off-chain processing of on-chain assets, the proposed in-browser app will help foster a crypto-powered economy among the masses.
For the uninitiated, the concept of Plasma Cash was unveiled last year by Ethereum co-founder Vitalik Buterin. In a way, it could be considered Ethereum’s answer to Bitcoin’s Lightning Network.
At present, payment platforms built on the Ethereum network can handle, on average, about 20 transactions per second, which is far less than what one would expect from an enterprise-grade financial systems solution. To put things in perspective, Amazon processes more than 300 transactions per second.
However, with Opporty’s Plasma Cash, CLIC Technology is confident that not only will it be able to process a larger number of transactions per second but also dramatically reduce the processing weight on the network. The throughput of the Plasma Cash-enabled extension could rival that of Mastercard and Visa, the release notes.
Roman Bond, the CEO of CLIC Technology, commented on the development saying:
“Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries. We’re excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well.“
Support for Other Cryptocurrencies Soon
Notably, the two startups are also mulling developing digital payment platforms that would process any ERC-20 and ERC-721 standard-based tokens.
Should the companies go ahead with the plan, they could become one of the earliest players providing crypto-enabled platforms in the global e-commerce marketplace – an industry that is expected to reach $24.3 trillion figure by 2025.
In similar news, BTCManager reported on June 13, 2019, how crypto firm Bitwage had announced the launch of its ether payroll services that would facilitate interested parties to receive their salaries in ETH.
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