Amazon has seen dramatic growth since the advent of Coronavirus in 2019. It saw more than a 30% increase in net revenue the following year, surpassing $386 billion US Dollars. Today, Amazon is the largest online marketplace and fifth most visited multi-platform web property in the world, sitting just behind Google, Microsoft, Verizon, and Facebook. And yet, much of the world still cannot use it. This is due to one simple fact: that 1.7 billion people worldwide do not have access to a bank account. These people, therefore, rely upon cash, meaning they’re either unable to buy and sell online – or it is difficult or costly to do so. This is why today’s announcement is so incredibly exciting: that Electroneum (ETN), the cryptocurrency focussed on financial inclusion, can now be used inside the ETN App to make purchases on Amazon.
Amazon is the perfect platform for entrepreneurs globally
Launched almost 30 years ago, Amazon survived the dot-com bubble of the 1990s, starting as a humble online book store. Since then, it has evolved and grown to become the world’s largest retailer, surpassing Walmart by 2019. One key to its success is its merchant platform, which allows individuals and businesses alike to sell products via the Amazon marketplace, and even use the services of Amazon’s fulfillment warehouses to streamline their business activities. The sheer scale of Amazon’s marketplace means anyone can grow a business with minimal investment. Large firms are even acquiring Amazon sellers who are performing well, making it a tremendous opportunity for entrepreneurs globally. And yet, millions of entrepreneurs around the world cannot buy on Amazon, let alone sell.
Changing the way for people to buy and sell globally
According to researchers in 2016, the global digital economy was worth $11.5 trillion, a staggering 15.5% of the global GDP. Since then, digital transformation has accelerated at unprecedented rates. The global Coronavirus pandemic has forced consumers and businesses alike to go online, so much so that global internet traffic in 2022 is estimated to exceed the entirety of internet traffic up to 2016. The global digital economy therefore cannot be ignored, and we must do more to provide those without bank accounts access to it. That is the premise behind the ETN-Network project, and why the Electroneum blockchain and ETN App launched in 2017 to provide greater financial inclusion with free and simple access to mobile digital payments – without the complexities and costs associated with bank accounts, whilst maintaining the KYC and AML requirements of governments globally.
People are accessing the digital economy for the first time
In the four years since its introduction, the ETN App has attracted more than 4.2 million users worldwide. In the initial phase of it’s introduction, the ETN App had a built-in mobile mining feature which provided each user with the ability to generate up to $3 US Dollars worth of Electroneum (ETN), each and every month. The purpose of this was to educate people about the benefits of cryptocurrency, and how it could be applied to the real world, such as making it possible to receive payment in digital form and using it to cover the cost of essential services, directly from within ETN App without needing to travel to the local town, for instance. In the second and current phase, the ETN App serves as a digital wallet for those wanting to earn Electroneum (ETN) online, via platforms such as AnyTask.com.
Earning online without a bank account made possible with Electroneum (ETN)
AnyTask.com empowers freelancers to sell their services online without the need of a bank account. Furthermore, no Seller fees apply, meaning they keep 100% of what they charge. Whilst Buyers pay with debit or credit card, Sellers receive payment in the Electroneum (ETN) cryptocurrency via the ETN App, almost instantly after the work is approved by the Buyer. The Seller is subsequently able to store their ETN inside the ETN App, send it to a friend or family member locally or abroad for a fraction of a US Cent, or spend it on a range of services available inside the ETN App, including mobile airtime and data across major networks, as well as across a range of globally-renowned brands such as Apple, Xbox, PlayStation, and now Amazon.