Globe Newswire shared news on 13 June about the collaboration between Clic Technology and Opporty to harbor Ethereum purchases on Amazon.
The new offer would be a progressive browser extension which will change the e-commerce industry. It would allow consumers to make domestic purchases on Amazon using the open source, public, blockchain-based distributed computing platform Ethereum. Globe Newswire also added that powered by Plasma Cash, the new extension would bring a modern-day cryptocurrency economy one step closer to becoming a reality.
CLIC Technology CEO Roman Bond expressed –
“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.”
Globe Newswire noted that traditional Ethereum-based platforms are able to handle, on average, about 20 transactions per second. In contrast, Amazon processes upwards of 300 transactions per second, typically making it incompatible with the digital currency. However, with Opporty’s Plasma Cash, CLIC Technology can dramatically accelerate transaction speeds while reducing loads on the system.
Globe Newswire clarified that the two companies planned to create payment platforms processing not only Ethereum, but also any tokens based on ERC tokens, and other Ethereum standards. Globe Newswire emphasized that it was a major roadmap for Clic, as the global e-commerce marketplace was going to reach 24.3 trillion U.S. dollars by 2025 according to expert predictions.
In May, Amazon had been granted a patent to build a Proof-of-Work (PoW) cryptographic system similar to Bitcoin blockchains. The patent was granted by the U.S. Patent and Trademark Office (USPTO), outlines how Merkle trees could be generated as a solution to the PoW challenge. This is in addition to other salient benefits. Dating back to the late 70s, a Merkle tree structure allows for verification of data sent between computers to ensure decentralized blocks are not invalid.
Globe Newswire concluded by throwing more light on CLIC Technology. CLIC is the developer and marketer of new, cutting-edge blockchain products cum services. It has created a novel financial gateway infrastructure that enables consumers to use cryptocurrency to make easy purchases online and which enables merchants to accept crypto payments and receive immediate settlements in conventional fiat currencies. The retail entry of the new payment gateway system and related services is planned to occur in a planned rollout in the US and other major markets in the coming months.