Pi Network's new announcement - Maybe it's trying to enter Amazon & Tesla? - Part 2

[ 1. press release ]

Recently, there have been two reports about the introduction of cryptocurrency by Amazon.

On July 23, 2021, it was reported by "CoinDesk", one of the media specialized in cryptocurrency. This is "Amazon is hiring blockchain team employees with experience in the field of DeFi systems and blockchain".

And two days later, on July 25, 2021, an article was published in "City AM", one of the UK's economic magazines. "Amazon plans to accept Bitcoin payments by the end of 2021 and is looking into its own tokens in 2022," an insider said. Shortly after the article was published, an Amazon spokesperson directly denied it, saying, "I never said it was going to introduce Bitcoin." Because of these news, the price of Bitcoin has moved significantly.

---

[ 2. guess ]

There are many opinions about these articles, but I personally think this way about job postings.

 

■ Amazon will promote the development of a cryptocurrency for its own use.

As Amazon did not refute this, development is expected to take place.

 

■ Amazon is preparing to introduce Bitcoin.

Just because there was an official rebuttal from a spokesperson, I don't think you should necessarily believe it. Amazon may still have plans to introduce Bitcoin as its flagship cryptocurrency payment system. Amazon is a very influential company, so it is likely to be as cautious as possible.

 

■ They will promote the application of Amazon's own currency & Bitcoin, and other payment coins together.

Perhaps this prediction is correct. An article from City AM also talks about this. It is said that the application of Bitcoin will be initiated first, and Amazon will develop its own currency in 2022, and about eight other cryptocurrencies such as Ethereum, Cardano, and Bitcoin Cash will be applied sequentially. (Among these, the content of Bitcoin is completely denied by an Amazon spokesperson.)

 

"Then what about the pi network?" , but since Pi is still testnet and unlisted, it is correct to view that it is not at the stage of discussion at this time. We should think of it as not being excluded because it is not promising, but because it is not yet the time.

---

[ 3. evaluation ]

Regarding this news, opinions are divided on the Pi Network, whether it is good news or bad news. But personally, I think it's a good news. The reason is as follows.

 

■ In any case, it is basic that the environment is built.

This is because the most basic condition for Pie to be used as Amazon's payment method is that "Amazon must first introduce cryptocurrency payment itself." It doesn't matter whether or not the Pi Network is included in this payment method now.

 

This is because, once the environment is created, there will be a possibility of entering the market in the future depending on the success of the development of the Pi Network. From that point of view, it is a good thing just because it creates an environment.

 

■ Amazon plans to introduce several cryptocurrencies.

If Amazon had asserted that "we have no intention of introducing anything other than a currency we develop in-house", it could be bad news for Pi. However, Amazon has never said that, and it is good for the company to introduce various payment methods, even if it is common sense.

 

Imagine when we buy something in the supermarket. Are there any stores that accept only one type of credit card for payment? Of course, there may be places like that, but most stores will introduce as many different payment methods as possible. This is because the more restrictive the payment method, the more difficult it becomes to attract other demand, which is disadvantageous for the seller.

 

■ This could be a starting point.

What this means is that if a global conglomerate such as Amazon, not another company, pushes forward with the introduction of cryptocurrency payments, other companies can continue to do so. This means that it can serve as a signal for news that many global giants such as Apple and Tesla are introducing additional virtual currency payments. Personally, I think other big companies will continue to report news like Amazon now.

 

In conclusion, it is too early to expect to enter a global conglomerate right now, as Pi is not yet ready to enter Amazon, and neither Amazon nor any other company has mentioned Pie at all. However, in view of the development status of the Pi Network and the market atmosphere, there is no doubt that “possibility continues to be created”. Transactions that have already occurred between 300 early testers have accumulated quite a bit, and the value of $10 and $100 per pie coexist, so the future of Pi is bright.

 

Therefore, it is better for existing users to focus on consistently pressing the button once a day, and I think it is better for non-subscribers to decide quickly and participate in the pi network even now.

---

□ If you haven't heard of the Pi Network yet, or want to know how to join, go to this link. 

[ Invitation code: kingsnet2 ]

Pi Network - Complete instructions on how to sign up