Speculation that Ripple might partner with digital sales giant Amazon has been common in the past year. The initial rumors that sparked the speculation may have been partially behind the massive spike in Ripple’s price earlier this year, and the dispelling of similar rumors contributed in part to its fall to below one dollar per coin. But if the partnership actually were to go through and talks were to transition into legitimate progress, it would mean a great deal for the entire community.
First, the partnership would add a layer of legitimacy to the technology, which thus far has been somewhat controversial among professionals in the crypt industry, many of whom see problems with Ripple’s interest in partnering with centralized banks, given the deep commitments to decentralization which rest at the core of blockchain technology and digital currencies. A successful partnership with a massive private sector company such as Amazon could help to revitalize public interest in the technology.
More importantly to some of the millions of holders of the company’s fundraising token, XRP, the partnership could mean significant gains in the price of the currency. Having fallen in price from over USD $20 to a measly USD $.50 in mid-June, the currency could surely use a boost to its prices to help recuperate significant losses throughout 2018.
In a much larger sense, however, a successful integration of the distributed ledger technology boosted by XRP into the traditional economic sector is a massive win for the entire crypto community. Because of its proclivity to application sin ironically centralized settings, the opportunity for use in a respected private sector could legitimize the larger integration of blockchain technology into existing financial and business infrastructure.
New Adopter Market Entry
One reason that the Amazon partnership may finally be coming into fruition is the ease with which investors can now enter the market. While this is being written, the price of XRP is around USD $.55, the lowest the currency has been trading in about a year. This is a major benefit for investors looking to join the lucrative market.
Additionally, this boon of low pricing could directly benefit the Amazon-Ripple partnership, as Amazon’s mass focus items are given micro-prices, which could be perfect for the low-priced currency, were it to be used as an operating payment method on the existing site’s infrastructure.
Customer Concern Mitigation
The modern customer is more interested in speed of transaction and efficiency of system than ever before. With the innovations native to the blockchain, XRP is incredibly proficient at dealing with slow processes on the financial ledger. This could be a major asset to companies like Amazon, which are constantly looking for ways to cut down on waste and maximize user experience.
Ripple could help to minimize the wait time between clicking “buy” on item and the merchant effectively dispatching the item for delivery. Ripple could help to speed up the transfer of information in an effort to eventually eliminate the most unnecessary of these wait times.