If you have been paying attention, there has been a growing, albeit still relatively low profile, excluding the Bitcoin craze, move of companies and municipalities exploring or getting into the semi-alternative currency game. Now Amazon is jumping into the pool. As reported by The Dailymail
Amazon has launched its own virtual currency called Coins in the US. It is only available for Kindle Fire users, for the time being, but can be used to buy games, apps and in-app purchases from the Kindle Appstore, as well as buy items from Amazon's retail store
Amazon follows other such private coinage moves by the likes as Facebook, Microsoft, Disney, various local municipalities, and others offering 'money'. Money may be a loose way of defining Amazon's and others proprietary coinage though, as most if not all are pegged to the value of a major currency, primarily the U.S. dollar. Although it is a minor interest of mine to watch moves like Amazon's, I also think the real significant move (if it ever comes to pass) will occur when the private coinage begins to unlink itself from primary currencies and begins to exchange hands on its own accord, more so in a competitive currency environment. Until then, the linkage to major fiat currencies, who themselves are backed by nothing, make these private coins nothing more than semi-interesting trinkets.
Amazon has launched its own currency
called Amazon Coins. It's currently only available in the
States for Kindle Fire owners, but the Coins can be used to pay for games, apps
and in-app purchases from the Amazon Appstore. One Amazon Coin is worth one US
penny, and Kindle Fire owners are getting 500 Coins ($5) for free as part of
the launch.
Amazon has launched its own virtual currency called Coins in the US. It is only available for Kindle Fire users, for the time being, but can be used to buy games, apps and in-app purchases from the Kindle Appstore, as well as buy items from Amazon's retail store
Amazon follows other such private coinage moves by the likes as Facebook, Microsoft, Disney, various local municipalities, and others offering 'money'. Money may be a loose way of defining Amazon's and others proprietary coinage though, as most if not all are pegged to the value of a major currency, primarily the U.S. dollar. Although it is a minor interest of mine to watch moves like Amazon's, I also think the real significant move (if it ever comes to pass) will occur when the private coinage begins to unlink itself from primary currencies and begins to exchange hands on its own accord, more so in a competitive currency environment. Until then, the linkage to major fiat currencies, who themselves are backed by nothing, make these private coins nothing more than semi-interesting trinkets.
No comments:
Post a Comment