Bitcoin Forum

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?

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

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.

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.

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.

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..

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

Amazon have to launch a coin to threat libra
I think facebook is the worst threat of libra  ;D
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  ;)

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.

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

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.

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:

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.

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.

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.

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.

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.

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.

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.

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

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...)

Facebook's libra was also be used to transactions within their platform so I think it's the same. I'm not being biased but based on popularity, facebook and amazon have a real match on this, they have both potentials and take note that Amazon isn't exempted on the government.

There will be also trials on amazon before they start trying to enter the cryptocurrency world. There's already existing wallet for amazon where you can buy online using that money so I think the idea of Amazon's coin will be different from the existing one. I know that it will be more precious and useful than every coin out there.

I feel that Facebook Libra and Amazon are healthy competition and good for the crypto sphere. In future big companies like Google, Samsung or Alibaba could also Facebook Libra's Biggest Threat. But I am one of the avid users of Facebook, and my personal data or other data is one of the Facebook biggest advantage.

Amazon might be able to make altcoin for their own cryptocurrency, but there will be many rejections if it doesn't have a stable exchange rate like USDC and I have seen many new altcoins trying to implement payments using crypto on e-commerce platforms but the platform is still quiet With enthusiasts, there are currently more and more opportunities for large companies to make their own altcoins, but Libra coins have stable prices that will disrupt conventional currencies.

The great majority of major tech corporations are currently experimenting with blockchain technology. However, this is mostly for the secure transmission of data and improved tracking in supply chains.

Amazon is one of these companies. That said, there is no evidence that they are planning on producing a cryptocurrency. After all, they already have their Amazon payment system, I doubt they want to introduce people to cryptocurrencies and drive them away from one of their main revenue systems.

The governments are Libras biggest threat.

It is getting very interesting  the interest people have in these centralized projects now has compared to decentralized projects that kick start this, before it was the VCs projects making waves but now  Corporation projects, we need to beware of what we wished for because these people know how to dominate market

Personally i will welcome both as both of these coins will add to the total market cap of crypto market that will definitely have a boosting impact on the market especially when a wholly new people will enter crypto market through libra or amazon. Secondly i think fb and amazon are 2 very different business niches fb is truly global and amazon is just available in a dozen big countries only but yes amazon has billions in transactions so it is huge as well for me it will be great time coming for crypto market.

Yes, they're both welcome in the crypto world but remember that it's a business, there will be always a competition. Everything that has been created literally adds a good factor for the community, we know that but It will be always one that will reigns.

Facebook is only available in some countries especially in Asia because they have a different social media platform that is using. Amazon was also known in some other countries and have a good purpose for them, buying some rare stuff that can be bought internationally and through amazon, you can get it.

They're both have potential and have different platforms but when it comes to cryptocurrency, it's all about the money so it will cause a good competition for both side.

it caused by this project have more guarantee consider both are regulated company. In the decentralized project so many uncertainties especially there was no a regulation that gives guarantee to the platform.
If you have big money and you can do anything whatever you want to the market or even take it for you.
In our real life and anything  have been dominating by major companies.

One thing is good for crypto with such fights between major companies in the world going for blockchain and crypto coins. However I am not very sure about creating multiple coins from each and every company.

There's advantage but definitely disadvantages will still grow as well as the environment is getting downfall.

Noting to do with that, it means we're going to get modernized. All transactions are possibly done through digital money so I'm wondering what will be the future look like.

The only thing I'm sure about was gold still existing in the future even the transactions are being made digitally. Maybe it cost more since it's rare and few pieces of gold are existing.

I think that companies like Amazon, Wallmart and Alibaba will be able to succeed if they use blockchain technology, especially in the supply chain. This is a true blessing for them and it would be a very accurate decision to invest.

But I can say that Facebook is late to invest because we already have Telegram, Statista and many more blockchain-based social media programs.

I agree with you, big corporate business process will get succeed in a quick time as they are already popular across the globe and they have gained a lot of trust from the people. However the same applies for Facebook as well we have lot of social media programs but there might be a specific change in the program which will be useful for the Blockchain users.

What will be the token of amazon?
Do they have the same project or use of tokens with facebook libra?
how to make a threat disappear? be better than them, make a better project and offer the best for your investors and the future.

I think both of them will be doing fine, if Amazon enters the market as well. i still feel curious about libra though, despite my mistrust to it.

I am not sure why amazon would build something like that. Facebook makes more sense because their main income came from ads and it's hard to build a good social network when it's going to be infested with ads. So they wanted to expand and have even more data and money from their users. Their own money would serve the purpose perfectly for them, collecting more data and basically printing money by running masternodes.

Amazon on the other hand is already making money, they want the user experience to be easy. They might introduce easier payment systems but dabbling with crypto would mean they had to educate people to use it. And all they want is easy gui with easy shopping experiment.

Lol, amazon is more relevant to make a digital currency since they're a business where it involves money because it's an online store where you pay digitally. Facebook's Libra is just for the payment on the platform which is very irrelevant since we didn't expect that facebook will evolve on this level, i only see it as a social media platform.

That's another reason, amazon is making money and they can enter the cryptocurrency world whenever they wanted, they will not hesitate to do things because it's an advantage for them, they will not lose 'cause they can back up each gap on their actions.

I think Amazon is still with Libra and I am sure they will make progress together because with the Libra platform it is possible that Amazon can expand the payment network so that it can make it easier for customers to make transactions on the Amazon platform in collaboration with Libra.

They are creating their coin for their service or platform and what's wrong/ facebook and amazon have so many users or even millions of users are using their service every day. That makes sense if they can create such a scalable blockchain that will be processing the transaction even better than the banker to give more benefit and easiest way for customers to buy or use their services.

You kind of missed my point. The Amazon is all about customer experience and easy usability. Why would they introduce a token or coin that would bring a new layer to that?
They do know by now that making their own centralized new currency will be a regulatory nightmare, and i am pretty sure they don't need it because they are doing just fine with fiat-currencies and other payment services.

I would rather predict that they would introduce other payment options like cryptos that are already out there before inventing their own stablecoin.

Had it been Amazon had launched her coin, then agreeing that it is a major competitor !right be on point, but this is otherwise. Therefore, Libra coin Weill still attract some investors until it is deemed fit for at major competitor to launch hers.  Although, Facebook needs to prove to investors band other interesting quarters that the security of the platform is guaranteed.