In a press release issued on June 13, 2019, crypto payments firm CLIC Technology Inc. announced a partnership with B2B blockchain infrastructure company Opporty to jointly develop an in-browser extension that would enable customers to make purchases from Amazon with the ether (ETH) cryptocurrency.
Amazon customers will soon be able to pay for items using ether, thanks to a strategic partnership between two distributed ledger technology (DLT) startups.
Based on the Plasma Cash design pattern for off-chain processing of on-chain assets, the proposed in-browser app will help foster a crypto-powered economy among the masses.
For the uninitiated, the concept of Plasma Cash was unveiled last year by Ethereum co-founder Vitalik Buterin. In a way, it could be considered Ethereum’s answer to Bitcoin’s Lightning Network.
At present, payment platforms built on the Ethereum network can handle, on average, about 20 transactions per second, which is far less than what one would expect from an enterprise-grade financial systems solution. To put things in perspective, Amazon processes more than 300 transactions per second.
However, with Opporty’s Plasma Cash, CLIC Technology is confident that not only will it be able to process a larger number of transactions per second but also dramatically reduce the processing weight on the network. The throughput of the Plasma Cash-enabled extension could rival that of Mastercard and Visa, the release notes.
Roman Bond, the CEO of CLIC Technology, commented on the development saying: “Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries. 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.“
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6 hours ago
I’ve been trying out some new products to carry at my studio and I am loving them so far! They even have a pet line so they are Junie and Paisley approved!
Tell me, what are your concerns when it comes to your hair care products?!
(Tried holding Paisley for this photo but she hated it, so laying in the background was her decision 😝)
2 hours ago
Visa, Mastercard, PayPal and Uber are all backing Facebook’s new cryptocurrency, according to a new report.. The Wall Street Journal reported Thursday that the social media giant has signed on more than a dozen backers for its GlobalCoin cryptocurrency, a stablecoin that has been developed in secrecy for more than six months. Each of the new backers will invest roughly $10 million in the project as part of a governing consortium for the cryptocurrency.
Stripe, Booking.com and MercadoLibre are part of the project, according to the Journal, though the report does not specify what their roles are.
Facebook announced it was launching GlobalCoin last December, though the company indicated that it was looking at cryptocurrency as far back as the end of 2017. The crypto is expected to be a stablecoin that will operate within the company’s messaging infrastructure – WhatsApp, Instagram and Facebook Messenger.
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