Over the course of the past couple of weeks, there have been many rumors circulating on the internet which claim that a new Chrome extension (called ‘Moon’) will soon allow individuals to make purchases on Amazon using the Lightning Network. However, it should be made clear that the new extension does not directly accept BTC, instead, it makes use of a niche’ algorithmic module that allows it to convert one’s crypto assets into fiat before facilitating any transactions on Amazon (as well as some other popular e-commerce sites).
Contrary to what is being said and written on the internet, Amazon has no immediate plans of implementing a crypto payment portal into its existing UI. However, as many of our readers may remember, over the course of the past few years, there have been many projects such as ‘Purse.io’ that have tried to allow users to spend their altcoin holdings on Amazon. In this regard, Moon is a similar project that hopes to spur crypto adoption amongst users who like to make use of popular e-commerce portals on a regular basis.
At this point in the article, it should be made clear that widespread crypto adoption has been slow to come by because the masses at large are still not sure about this burgeoning asset class.
In a recent interview with Jeff Garzik of Bloqinc, he mentioned that there currently exist a number of operability issues that are preventing altcoins from reaching the average investor. For example, he pointed out that the issue of security was becoming more and more pertinent with each passing day. Additionally, Garzik also pointed out that startups such as Moon were
“swimming in a crowded sea of companies competing for a tiny portion of the population”.
Last but not least, he also commented that due to the speculative/volatile nature of BTC, many people still quite varied with digital tokens.
In closing out this piece, we should point out that a recent article published by a well-known media outlet claims that more than 20% of all Americans don’t have access to a regular bank account. This number seems to be quite shocking, especially when compared to similar statistics published by the government back in 2011.
Hence, after its all said and done, it appears as though the introduction of a single Chrome browser will not have a major impact on widespread crypto adoption.