When it comes to blockchain, one would expect to see the top technology companies jumping on board. Although many top end companies are finally looking into it, it still has not happened. However, we might finally see that happen with one of the top tech giants, like Amazon.com
Amazon has spent many months researching and looking into the opportunities that blockchain offers
In 2018 after carefully evaluating all the strengths along with the opportunities that bitcoin has to offer, they finally we ready to take their first step. Amazon has now introduced blockchain as-a-service feature.
Amazons medium to long term strategy is twofold.
The first one being to change the present trends in the eCommerce business and consumer market and the other is finding more ways and means to expand.
Amazon’s domination of retail sales comes with a price tag for most companies that work through them.
Using amazon’s huge platform is like using a double edged sword
On the one side Amazons has a far reaching product distribution, logistical, sales and marketing support. The other is the loss of personal relationship between the product and the customer. Many on line retailers voice this frustration especially when it comes to the end users information which is collected and held by Amazon. Several on line traders are waiting and looking for other alternatives and blockchain could be the answer to their frustrations..
By introducing and adding blockchain to their platform, amazon will initially be walking on a fine line.
How effective and in what ways will blockchain help to build upon the mightiest retail platform is still yet to be seen. Amazon so far have nearly always got it right. This could lead to a interesting future ahead of us.
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