New Survey Shows That Amazon Could Take On Cryptos and Banks

New Survey Shows That Amazon Could Take On Cryptos and Banks

While some argue whether blockchain will be able to replace such retail titans as Amazon or eBay, lots of people support the idea of “Amazon-coin” creation. According to one of the latest surveys, more than 50% of Amazon users said they would buy retailer’s coin if it launched it or carrying out payments on the site. Some even admitted they would be glad to use such a currency as their main bank account.

The technology future, perhaps, is going to be more exciting as we could have thought. Instead of the peer-to-peer system erasing the retail network, we can expect a much-diversified market within some years.

“Amazoners” to embrace cryptos

An American, Seattle-based, e-commerce company Amazon, apart from conquering the spheres of healthcare and groceries, now has all the chances to threaten traditional banking systems. Such a conclusion may come out of the recent study, which demonstrates that lots of Amazon buyers would support a crypto-coin, potentially issued by the retailer.


In particular, 51.7% of Amazon clients would have endorsed the use of Amazon-launched cyber coin for making purchases on the site, according to the recent LendEDU survey.

The survey was conducted among 1,000 shoppers, and it was published this Wednesday, on February 28.

Notably, Amazon Prime clients appeared to be even more forward-looking to the creation of retailer’s coin with 58.27% respondents expressing their support for it.

Or No?

On the other hand, out of 1,000 poll participants, only 22% said they would not embrace “Amazon-coin,” whereas 26.4% claimed that they were still hesitating about their attitude towards the idea.

No future for banks?

On top of that, the survey tried to find out what people think about a rivalry between traditional financial system and Amazon. As it turned out, 45% of respondents claimed they were ready to use Amazon as their principal bank account. At the same time, 49.6% of survey participants said they would gladly use a savings account launched by this retailer.

It is also noteworthy that 14.9% of respondents refused to comment on the savings account concept.

Another striking result is that around 17% of people said they would trust Amazon more than classical financial institutions, whereas 39.3% said there would not be much difference in their attitude towards Amazon savings account idea when compared to banking services.

Interestingly, slightly more than the half of poll participants mentioned they would be fine with using their Amazon account for taking loans.

Chart Source: LendEDU