Amazon will keep away from competing with Facebook’s cryptocurrency, Libra, according to an Amazon senior executive.
Patrick Gaulthier, the VP of Amazon pay says at Fortune Brainstorm Finance 2019 event that the currency transfer system that is launched by Facebook recently is a step that can be considered as an important step taken so far on the perspective of the recent situation.
In the words of Patrick, “It’s fresh, it’s speculative; at Amazon, we don’t really deal with the speculative, in the now,”
Counted as a network that enables users with transferring money just like messages or media files via social media platforms, this scheme has been proven attractive for the scorn because of its technical specifications including roadmaps. However, some of the lawmakers have requested the organization for a halted development together.
Since it is a probable alternative of the Fiat currencies and central banks, many commentators including Russia, might opt out banning Facebook or other media that supports Libra.
If we talk about the U.S, a dedicated meeting is going to be held in the coming month specifically on the digital currencies. Depending on the response, Amazon might also consider the Libra modeled cryptocurrency implementation for exchanges in the future, however, as of now there is no possibility of the same.
“At Amazon, we deal with data a lot, so I’ll be happy to have that conversation two or three years from now,”, Clarifies, Gaulthier.