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Diem by Meta/FB tried this and was eviscerated.

• walterbell 4y ago
  Too soon? The graph of trust in corporations vs governments hasn't yet crossed over.
  • candiodari 4y ago
    Isn't company stock pretty much this? Seems to get plenty of trust over government currency ... I guess you could say it needs to be made more fungible before it would really have this function, but ...
  • danaris 4y ago
    Isn't this begging the question? Some people's trust in governments has been going down, and some people's trust in corporations has been going up, but it's far from universal or strictly correlated. Personally, I fervently hope that the general populace never becomes so deluded as to think that companies have our best interests more at heart than governments do. Even a corrupted government can, with effort, be cleaned up and made to function correctly again; a self-interested, fully-profit-driven, amoral company is working as intended.
• Thorentis 4y ago
  This has far less utility than AmazonCoin though. The utility of fiat currency is the ability to pay taxes in it. The utility of AmazonCoin would be using it buy things from the Amazon store. What utility did Diem offer that other currencies do not already? My point is that AmazonCoin as a medium of exchange for any kind of goods even off platform, would be a secondary effect. The issue with so many of these crypto projects is that they have no actual utility for anything from Day 1. Amazon wouldn't even need to make it a crypto. Literally just credits on your account. The extra bit is being able to send those credits between arbitrary accounts.