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Tom Baker writer
Tom Baker Staff Writer Derby, UK

Those ambitious Amazonians are looking to succeed where Facebook and Microsoft failed – by minting their own currency. Right now it’s just for use on the Kindle Fire but will it work?

Where the likes of bitcoins are frustratingly complicated, Amazon Coins are more like the deliciously simple PKTMNY. Coins have an exchange rate with real-life money (one cent = one coin, essentially), and they’re easy to get a hold of. The main benefit of the Coin, apparently, is for app developers – they’ll sell more stuff, but that will be a benefit to those buying the apps too. Eventually, anyway.

For kids, the Coins could work pretty well as a store-specific version of pocket money – an allowance they can spend on books, games, or apps (probably the latter two) for the Kindle Fire. It’s important to bear in mind that as great as Kindles are, they do lack parental controls, so parents will need to be vigilant at checking what is being downloaded.

It’ll be interesting to see how the Coin plays out, especially with the younger generation, who might not be able to resist the promise of ‘tens of millions of dollars’ in free digital currency

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