The inclusions of blockchain technology into web payments is a significant step in the adoption of digital assets as a medium of transacting business. As actual cryptocurrencies can now be used to pay for goods and services directly from an online store using the payment handler API. Also, it is the foremost integration that allows for merchant transaction reporting tools to track down sales. The payment procedure gives access to users to go through simple small steps during the checkout process and pay online effectively using a choice of crypto options supported by the platform administrator. Asides the first time, where it is necessary to enter your bio-data as requested by the site, the payment API saves your information on the browser to allow for secure payments.
Also, with the integration of crypto into the online shopping space, a merchant payment reporting dashboard has been developed to keep track of a payment status. The MPRD provides data that relates to sales transactions that were done through crypto as well as the outstanding account balances. This was developed through the use of an inter blockchain augmented node technology which keeps track of multiple events on the blockchain.
In late 2017, there was an introduction of the Amazon Coin which was in collaboration between Amazon and an existing crypto platform called Stellar. Its an Amazon cryptocurrency that was aimed at changing the face of the world’s largest online retailer. It was referred to as Amazon Cryptocurrencies at that point in time. There was a lot of speculation as regards Amazon entering into the foray of the cryptocurrency market as they began to accept coins as a means of payment on their platform. When it comes to innovative solutions, Amazon is not a stranger given they were recently valued at over a trillion dollars, so the influx of blockchain is focused on allowing users to pay for goods and services using the distributed ledger technology which results to supply chain optimization. Distributed ledger technology acts as a driving force for the supply chain industry as well as creating decentralized digital currencies for order recording, fulfillment and tracking. By implementing a blockchain-based supply chain system, the Amazon brand would gain more popularity, and this would increase their reputation and improves their overall supply chain efficiency and effectiveness. A well implemented Amazon crypto allows online shoppers to buy products at a regularized international rate and terminates any air of confusion and well as volatility of the near money currency.