Amazon Wall Mart is looking for a new way to pay shoppers this year.
Change may also lead to the influence of banking giants to move forward.
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Consumers can soon see Stablecoins issued by the two companies, according to a report issued by the Wall Street Journal.
Stablecoins is a type of cryptocurrency that tries to maintain consistent value, a difference in volatile options such as bitcoin.
This is because Stablecoins is linked to a material currency such as USD (USD) or even goods such as gold.
Stablecoin Amazon and Walmart options will be associated with US dollars.
The transition towards this option would perfectly help reduce processing fees, make global payments more efficient, and reduce dependence on traditional funds.
None of the company is moving forward, but rather monitors how Stablecoin is going through through the direction law and the establishment of the national innovation of the Stablecoins Law (Genius).
It was developed by the Senate earlier this month, but its fate is still not certain, for all CNBC.
The genius law seeks to create a federal and government framework for a market worth $ 238 billion for Stablecoins.
This means that retailers and companies such as Amazon and Walmart, along with the best banks, can keep the digital currency and its release.
Bank of America, JPMorgan Chase, Citigroup and Wells Fargo also explore the joint.
It can be used constantly by consumers, as with Amazon and Walmart, for digital payments.
Bentzi Rabi, CEO and co -founder of UTILA, a Crypto digital assets platform, said the move towards Stablecoin is unable.
“When you think about the needs of each company, a missile, a payment company, or a bank that wants to enter [stablecoin] Rabby recently said: “
“Everyone will enter the era of Stablecoin at the end.”
What is the encrypted currency?
Current currencies are a form of payment that can be exchanged for goods and services.
First or last?
There was support and criticism in all areas between politicians regarding the Genius law.
Some supporters argue that the United States will be late for the game if the genius law is not implemented soon.
“If we fail to behave now, these benefits will not only slip-we will also leave the global competitiveness.”
“Without an organizational framework, Stablecoin's innovation will multiply abroad – not in America!”
More protection
On the other hand, some claim that the genius law does not provide sufficient protection against potential corruption, such as officials who prefer some stablecoins.
“We need handrails that guarantee that government officials do not publicly ask people to buy their coins in order to increase their personal profit or profit their families,” Senator Jeff Merkeley (extending Oregon) recently said during the Senate session.
“Where is the handrail in this law? It is completely absent.”
The time will be determined whether or not retailers or banks invest in Stablecoin or not, if the bill is approved.
Walmart and Amazon also made other important decisions recently.
In April, Walmart CEO announced a four -step solution to reduce prices and promised more American products.
Amazon CEO also issued a warning to millions of shoppers about possible “approved” costs soon.
