Crypto is “speculative… we don’t deal with the speculative” Amazon Pay VP


  • Amazon maintains that it is too early to consider entering into the crypto space due to the current speculative nature.
  • Facebook’s crypto Libra continues to attract mixed feelings from the regulatory front.

As the news of the newly launched Facebook coin Libra settles, many have started speculating whether, the online shopping giant, Amazon will dive into the crypto space as well. However, according to a senior executive from the company, the idea of a crypto cannot be entertained at the moment, maybe in several years to come.

Patrick Gaulthier, the VC of Amazon Pay was speaking at the Fortune’s Brainstorm Finance 2019 event where he said that the decision by Facebook to launch a crypto was a great step but not in the current climate.

“It’s fresh, it’s speculative; at Amazon, we don’t really deal with the speculative, in the now,” he stated.

Facebook’s crypto Libra continues to attract mixed feelings from the regulatory front. The French Minister of the Economy recently cautioned that Libra can never be a sovereign current while asking for guarantees that the crypto will not try to substitute the fiat system. Meanwhile, the Fed Chair, Jerome Powell said yesterday that Libra brings with it both benefits and risks and it only gets into the central bank’s radar due to consumer and money laundering issues.

However, Gaulthier said that Amazon would like to have the conversation about a cryptocurrency in a few years.

“At Amazon, we deal with data a lot, so I’ll be happy to have that conversation two or three years from now.”

 

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