A major controversy started at the Consensus conference in New York City, where the e-commerce giant called eBay appeared to be promoting the implementation of cryptos on its platform.
This quickly sparked speculation as to what crypto it was going to be, how the website would implement them and if they were planning to make their own cryptocurrency and conduct an ICO. All of those conspiracy theories were quickly crushed by a Bloomberg report yesterday where eBay was denying any type of affiliation with cryptocurrencies.
Is eBay responsible for the bull rush?
The billboard that appeared on the Consensus conference clearly said that virtual currencies were coming to the platform. Which allegedly pushed the prices to a new bull market and added billions to the market capitalization.
However, if the rumors about eBay accepting cryptocurrencies are true and people will be able to buy actual real-life day-to-day items with Bitcoin, Ethereum and all of our favorite cryptos, it will be revolutionary for the blockchain world. Imagine how much benefit it would bring for cryptos to finally find something tangible to hold on to.
Furthermore, it would be a great addition for eBay as well. Simply providing a new payment option for devoted customers should not be too complicated for the e-commerce giant. There are still speculations that eBay denied the rumors, for the sake of denying it. There may be a blockchain-based e-commerce giant yet.
Competition may be the driving force
Several major brands have already confirmed their affiliation with the blockchain and are promising to start crypto payment options in their stores. Popular names such as Barnes & Noble, Whole Foods and Bed Bath & Beyond were confirmed to have been some of those major brands that have confirmed the blockchain adaptation.
Should the trend continue, both Amazon and eBay will be forced to enter due to the possible revamp in the e-commerce industry.