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Two Startups Are Partnering to Enable Amazon Purchases with Ethereum
Two blockchain-focused startups are teaming up to enable Amazon purchases with ethereum via an app-like browser extension.
Updated Sep 13, 2021, 9:18 a.m. Published Jun 14, 2019, 10:20 a.m.
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Two blockchain-focused startups are teaming up to enable Amazon purchases with ethereum.
In a press release published Friday, crypto payments firm CLIC Technology said it is collaborating with blockchain infrastructure provider and B2B platform Opporty to develop an app-like browser extension allowing Amazon customers to pay for items in the ether token, even though Amazon itself does not accept cryptocurrencies.
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The effort will be based on Plasma Cash, a technology outlined last March by ethereum founder Vitalik Buterin. Opporty's implementation of the concept – a payments scaling solution similar to bitcoin's lightning network – "will bring a modern day cryptocurrency economy one step closer to becoming a reality," trumpets CLIC in the release.
The Plasma Cash implementation would "dramatically accelerate" transaction speeds when compared with those on the ethereum blockchain, the firm added.
"Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries," said Roman Bond, CEO at CLIC Technology. "We're excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well."
Going forward, the two companies plan to build similar payment products for other cryptocurrencies too, listing ERC-20, ERC-721 and other ethereum standards as options currently being considered.
CLIC Technology is developing a crypto-payment platform called CLICPay, which is now in the pilot phase, according to the release.
Amazon app image via Shutterstock
