Topic: AMAZON IS A THREAT ON FACEBOOK'S LIBRA - page 2. (Read 418 times)

After the PSD2, they both don't really need a new coin... banks have to open their system for 3rd party service providers to let people manage their bank account with 3rd party apps...
If they create an application (or integrate it into their own, e.g. facebook) they will be able to replace the people's internet bank application with their own.
In this case people will do their banking thru their facebook page and facebook could make money on that too. Most of the average joes trust facebook and usually these people don't really care about the security of their money (usually because they have debt instead of money but I'm just generalizing...)
So if they take over the banking, they (facebook) will be able to offer some financial related stuff to the people and can make money on this too, not only on ads. And in this case there's no need for new coin... (in case EU and others won't let them use their coin or with heavy restrictions...)

Amazon still can do more for the demand of its currency than Facebook, but does it make sense to make your coin stablecoin.

I don’t even need to read the content of the post  before arguing with you that amazon is not a threat to Facebook at all, when it comes to adoption of their coin, both of them are  giants in this world, but you can  never compare the popularity of amazon to Facebook.

Amazon might be the largest online ecommerce, but when it comes to user database, you can never compare the fan of Facebook to amazon, do you know that of amazon to even be successful, Facebook has an impact on it.

So many amazon users promotes their amazon account and their products through Facebook and it was through Facebook that I have gotten so many people to buy my products on amazon, amazon itself was not strong enough to promote my product because when I uploaded my product on amazon, I never got much people to buy it until I started promoting it through Facebook, people that uses Facebook advert are far more than people that uses amazon and even the buyers, so it is impossible for amazon to go over Facebook.

Right now, the biggest threat to Libra is the big rejection that it raises between governments. This is the real problem for them since it seems it will not be easy for Facebook to overcome it. Regarding other companies like Amazon launching their coin it will depend on the use of those coins, if they will be used only within the platforms that launch them or if they will be used to make payments anywhere. If Amazon launches their coin, but that coin is only used to buy stuff at Amazon, it will not affect Libra too much.

Amazon can be a strong competitor of Facebook if they also deploy cryptocurrency but it is not a threat. The real threat to Facebook comes from governments, especially in Europe that many countries consider Libra to threaten the economy and even national security.

the only way Amazon could become a threat to Facebook's libra is if they start their own centralized shitcoin like Libra which as far as i am aware Amazon has no plans on doing something like that any time soon. everything else as their company and their shares on stocks market is not really relevant here in my opinion specially when their token called Libra is involved.

we have to recognize is Project Libra Facebook can be a motivation for Amazon to make its own cryptocurrency. So far, Amazon has proven numerous symptoms that it is interested in creating cryptocurrency, but this is no longer impossible. Although Amazon is silent about these things, it is speedy becoming the dominant player in the blockchain world. which is a risk to the coin libra is that Facebook serves about 2 billion users, and Amazon has more than one hundred million users subscribed to Amazon.

Why there is a discussion like this when you already stated that there is no specific date or action if Amazon is going to release their own, Libracoin is not yet launched, I'm pretty sure that Facebook is aware of the situation, that some sectors and countries do not like their coin, but unless they launch and implemented, what's on their roadmap, we can only speculate,
This is just a speculation thread for me.

did not rule out indeed amazon could be a threat to Libra,
I heard that the Libra project was indeed developed by Facebook, but what developed was different from the Facebook team,
I am confused about what the terms are, like using the Facebook name but different managers.
and of course this only threatens libar, not facebook.
and overall this threat may only apply in the cryptocurency area only.

All popular companies have high possibilities to enter cryptocurrency since they have a community that will support them. So if ever Amazon entered the crypto world, it will be a huge threat for Libra. Google can also cause threat on them but they're affiliated with facebook.

Like what I've said on my thread:

I think have an complications and competition for both companies, in my own opinion both have an different goals libra and amazon.
No need to and worry argue for this I think both are can help for the crypto community to promote and to introduce to the people around the world what is about bitcoin and the whole crypto currency came from the new technology.

There's been some news of Amazon venturing into the blockchain space and patenting some inventions too. I think I read some on Cointelegraph. What I am not sure of is what Amazons niche would be but if its in same Niche as Facebook's Libra, then it has a stiff competition coming up. Amazon has a very huge market and working product with an excellent character to sell it faster to investors. With the way cryptocurrency is going, I can assure you that these big corporations are coming to blockchain. Most of them are just working underground for now so let's keep our arms folded

Amazon cannot be a threat to Facebook libra unless amazon is also planning to launch their own cryptocurrency and there hasn't been any news or rumour about amazon launching a cryptocurrency.

Amazon have to launch a coin to threat libra
I think facebook is the worst threat of libra 
Yes, it is, and I don't think facebook have a good reputation to keep your money, it's dangerous, they already have all our data and they use this in a non ethical way, and now they want to take care our money?
So I really think facebook is the worst think for libra 

Well, maybe Amazon coin isn't public as Libra, but Amazon has some plans to work with blockchain in the future and for sure they will have it's own coin, i will leave the source of some news talking about Amazon patent to work with their own blockchain:

https://cointelegraph.com/news/amazon-patent-casts-light-on-plans-to-create-proof-of-work-blockchain-analog

Well, US or EU or any central regulations aspects still say no to libra. So, there's still no threat between any tech giant regarding crypto adoption. But even both companies join the bandwagon it will still be a great news for the community..

I think there are a few core factors to consider:

1. Regulation: gigathech companies planning to launch their own crypto have moved at their own pace in a competitive environment. Libra’s announcement has put many of the factual powers to work on first stopping Libra from progressing by waving the flag of a prompt regulation. EU for example is considering it a threat to all banks and even to countries own sovereign, and has drawn it’s teeth at Libra, requiring further documentation, whist, I believe, working as quickly as possible to put as many barriers to avoid it roaming the European territories.

2. Strategy: Libra aims at being a near to world-wide currency (of a sort), where skimming off TX fees by sheer volume will be a large part of it’s income. Others may have a different strategy, focusing on increasing it’s base sales worldwide, with no intent of becoming a factual crypto-bank of a sort.

3. Reputation: One will want crypto to provide certain degree of privacy, at least in terms of avoiding cross-refencing owners with usage and bundling that to market new products. It should be paramount to clearly state the usage and derivatives of the derived information, and reputation will contribute to the credibility of the project itself.

Depending on the scope of the strategy, regulation is going to hit them harder or softer, but I’m pretty sure gigatech crypto is not going to be as easy to deploy as was once thought.

They still don't have their own coin to become a threat against Libra Coin, so how can they become a threat to Libracoin, unless they have a plan to follow Libra Coin's lead, then we have something to compare and debate, Amazon is big but Facebook is progressing with their Libracoin.

The only reason Libra would see Amazon as a threat is if amazon will also think about launching a Cryptocurrency.

A Company is entirely different from launching their own cryptocurrency platform therefore I do think that the threat that they are talking about is somehow on different levels therefore comparing it would be futile ..

Till Amazon is not launching their own cryptocurrency I don't think why it would be a problem.

Since Facebook has already entered the crypto world and presenting the facebook libra. Last June 2019, they announced that facebook's libra will formally be released in 2020 and the whitepaper is already out on the public.

Whitepaper of Facebook's Libra:

• https://libra.org/en-US/white-paper/

According to analyst company, which is cindicator, they told that Amazon is a big threat for facebook's libra. We all know that Amazon is the world's largest online retailer and have more potential to be on the top than Libra. Since Facebook has still scars to be fixed due to its issue last year.


Regarding the issue of data compromised on facebook way back 2018

People already lost their trust to invest more in the upcoming Libra of Facebook, so I think it's a great loss for them when Amazon releases its own cryptocurrency. There's still no specific date or action if Amazon will release their own coin so stay tuned. Any thoughts?

---

Reference:
https://www.ccn.com/facebook-amazon-libra-threat/