Will Amazon announce its cryptocurrency to threaten Facebook's Libra?

Though Amazon has not yet officially announced any plans to launch its cryptocurrency, a new report has examined the opinions of various analysts on the possible launch of an Amazon digital asset to counteract Facebook Libra.

A few months ago, Facebook revealed plans for the official launch of its Libra cryptocurrency. Many enthusiasts and industry experts have praised the social media giant for its decision to enter the cryptocurrency industry.

Ben Mezrich, the author of "The Accidental Billionaires", Expressed its positivity in the possible launch of a cryptocurrency branded Amazon.

Will Amazon announce its cryptocurrency to threaten Facebook's Libra? - Facebook Libra

Amazon is a worthy opponent of Facebook Libra

According to a survey conducted by the data analysis company Cindicator, Amazon is a powerful adversary that could become a fierce competitor in the cryptocurrency sector.

The report published by Cindicator states that almost the 23% of all analysts believe that Amazon is not only a worthy adversary, but also the "most likely player who will announce their own cryptocurrency".

Amazon is now known as the most important player in online commerce and could easily exploit its millions of users around the world to create its own digital currency, just like Facebook did.

Patrick Gauthier recently stressed that the Libra asset is speculative. The interesting report found that other possible competitors of Libra could be: Google, Apple , Walmart and Microsoft.

Libra and the criticisms

The social media giant has a long history of privacy violations and as such, the company's reputation, especially with regards to privacy, has always been questioned. even David Marcus, the head of the Calibra project, promised Congress that Facebook will do everything possible to make the Libra project reliable, secure and transparent.

The Cindicator report reports that a number of users are not very eager to use the Libra asset.

Beyond the 29% of interviewed users revealed that they will not have any Libra because they have little trust in the company.

In detail, the11,38% of the interviewees revealed that one of the reasons behind the decision not to use Libra lies precisely in the privacy issues.

To conquer the public, Facebook has formed the Libra Association formed by major brands such as Uber and Mastercard.

This was done precisely to separate the companies and to ensure that the companies concerned served as a tool for checks and balances.

This, however, did not work as expected by the Social, as he was accused of selecting certain partners to increase his earnings.

In short, it seems that Facebook, once again, has taken a wrong step.

Is it actually like this? It is still too early to respond, therefore, we must wait until the time matures ...