Will Amazon.com Buy Cryptocurrency Mining Power & Build Streaming Data Marketplace Exchange For Trading?
As quarter one of 2018 has come to a close one can not help but start seeing and feeling the notion of Jeff Bezo's Amazon.com is on the horizon of entering the cryptocurrency industry in speculator fashion sooner or later.
In short, we could see Amazon buying their way to the top of the cryptocurrency mining food chain and exchange trading marketplace bypassing much of the ecosystem in one swift move. Given all of the recent headlines coming from Amazon's patent filing, on top of the fact they registered three amazon cryptocurrency domains in Q4 2017 – we can go ahead and make a bold prediction in that:
Amazon Cryptocurrency Mining will be a thing…
Amazon is known as the everything store, which means you can find nearly anything and everything through the Amazon.com global marketplace. It is no secret Amazon is coming and they will make a huge splash once they enter the blockchain data-centric industry.
All signs are indicating they are making significant moves already within the cryptocurrency space by recently releasing an Amazon software “Streaming Data Marketplace” with the filing of U.S. Patent Office issued #9,947,033 that dates all the way back to 2014.
Here are some key take aways from this post to further speculate on what Amazon is doing or planning to do:
Streaming analytics technologies hold the promise of making vast volumes of data available in a low latency fashion. However, while prior technologies may be able to provide data in a low latency fashion, the raw data may have low value (or have less valuable than the data could have) until the raw data is enhanced by correlating the raw data with additional data, such as by matching records using common values.
One example is a data stream that publishes or includes global bitcoin transactions (or any cryptocurrency transaction). These transactions are completely visible to each participant in the network. The raw transaction data may have little meaning to a customer unless the customer has a way to correlate various elements of the stream with other useful data.
For example, a group of electronic or internet retailers who accept bitcoin transactions may have a shipping address that may correlate with the bitcoin address. The electronic retailers may combine the shipping address with the bitcoin transaction data to create correlated data and republish the combined data as a combined data stream.
A group of telecommunications providers may subscribe downstream to the combined data stream and be able to correlate the IP (Internet Protocol) addresses of the transactions to countries of origin. Government agencies may be able to subscribe downstream and correlate tax transaction data to help identify transaction participants.
Now, that may not be straight forward as it reads, knowing one site thought it summarized as a patent to de-anonymize all transactions and even sell the data to law enforcement and government agencies – but it should be known in the grand scheme of things, Amazon is coming.
And why not stop there. Why would amazon sit on the sidelines of the “dollar to digital gold” flippening we are seeing now just like they did with the “book to eBook” movement and start throwing billions back into developing and cultivating a better ecosystem.
What if Amazon bought Genesis Mining or some other major powerhouse cryptocurrency cloud mining service provider to help with their Streaming Data Marketplace. Imagine if Genesis Mining was acquired by Amazon to help facilitate faster growth and adoption with their low-latency data streaming marketplace that can allow users to subscribe or sell streaming data feeds for real time information transferring.
This was the abstract on the Amazon patent:
A technology for a streaming data marketplace is provided. In one example, a method may include requesting to receive a first stream of data from a first source via the streaming data marketplace. The first stream of data may be received and then correlated and combined with data from a second source as a combined stream. The combined stream may then be published to the streaming data marketplace.
When you combine the potential with the reality of Amazon creating products and services within the crypto-blockchain era, its magnitude could be profound.
Especially when you combine other factors that are slowly coming to light like the recent PayPal polices being changed that could enhance cryptocurrency usage. The PayPal user agreement contract might usher in the crypto coin cause even quicker due to fees collected on international payments and remittances, stating:
We’re removing the variable rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States when you send money using PayPal balance or your bank account and introducing a new flat fee of $2.99 or $4.99 per transaction depending on the recipient’s country. However, when you send money using your credit card, debit card, or PayPal credit you will be charged the new flat fee per transaction depending on the recipient’s country + 2.9% of the transaction amount + a fixed fee based on the currency.”
Before Bitcoin, the alternative payment methods were limited outside of credit/debit cards and PayPal. Now we see the likes of Amazon and what they could ultimately bring to the table – especially in the form of buying up crypto mining hash power and building out an everyday exchange for people to use and introduce into the everything store and global marketplace that is Amazon.com
Who knows, maybe one day we will see a CBS 60 Minutes TV episode with Anderson Cooper featuring Amazon buying an existing crypto mining company or opening up a new venture that features cryptocurrency mining services for everyone. Until then, what does everyone think about Amazon's potential to be a leader in cryptocurrency transaction market data?
So before you clicked on our site to read the research, we asked you the question “Will Amazon Enter Cryptocurrency Mining & Build a Streaming Data Marketplace Exchange for Trading” – and we believe the answer will be an impactful YES. Stay tuned!
Leave your comments below – we will be sure to follow Amazon.com's growing cryptocurrency involvement, even if they don't end up buying Genesis Mining or another cloud mining pool provider.