Industry News

Amazon pressured to approve the use of Dogecoin as payment modality

TL;DR Breakdown

  • Petition for Amazon to receive DOGE as payment gaining traction.
  • Amazon currently working on its own crypto project.

Amazon, a global online store belonging to the world’s richest best man, Jeff Bezos, is currently being persuaded to accept payment for goods and services in Dogecoin. This is according to a petition which has been signed by over 140 thousand people supporting the idea of Amazon receiving Dogecoin payment.

The Dogecoin use appeal started four years back. However, it has gathered momentum in the past two months when over 100 thousand people signed the petition within the timeframe.

The meme coin initially started off as a joke, as widely reported. However, the coin is now very far from a joke, giving its recent surge and break into the top 10 cryptocurrencies. Holders of Doge have continued to push the coin, and some have even declared today (the 20th of April) ‘Doge day’ towards pushing the coin to $1.

The hashtag #DogeDay trended all day on Twitter. One user described Doge to $1 as inevitable, noting that is still small compared to the coin’s potential.

Similarly billionaire investor, Mark Cuban also believes that the coin would hit $1 using that leverage to enable payment for basketball ticket in Dodge for his professional basketball club, Dallas Maverick. The club also sells other merchandise for Doge, and the billionaire promised the club would hold all Doge they receive in payment without selling a dime.

Amazon and Doge, what it entails

Amazon has continued to shy away from crypto payment in general. Moreover, the firm is not compelled to oblige to the outcome of the petition, regardless of how high the amount of signatures are.

Perhaps the organization would change its position in the future as the firm is working on floating its cryptocurrency. The firm rolled out an application for eligible candidates to join its Digital and Emerging Payments division. However, it remains unclear what the firm has in mind regarding crypto, despite the application rolled out.

This post was last modified on April 28, 2021 2:14 am

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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