Amazon to accept crypto soon. Amazon may soon allow its customers to make payments in digital currencies like Bitcoin, as the e-commerce giant is recruiting a blockchain and cryptocurrency product lead for its payment sector.
As per the latest Amazon cryptocurrency announcement, Amazon’s “Payment Acceptance and Experience” team is
“Seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.”
Earlier, Amazon avoided cryptocurrency for its volatile nature. Yet, the company is now set to change its notion, and Amazon to accept crypto soon. In this article, we will discuss some Amazon cryptocurrency 2021 news.
The e-commerce giant set tongues wagging over the weekend after publishing a job requirement for a blockchain and cryptocurrency lead. The job advertisement is a clear signal that Amazon to accept crypto soon. The advertisement calls for someone who can,
“Leverage domain expertise in blockchain, distributed ledger, central bank digital currencies, and cryptocurrency”.
It further adds that it wishes to formulate,
“The case for the capabilities which should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”
It does not require a genius to understand why Amazon is planning for this recruitment, but according to various sources, that plan is way broader than just planning to bring someone to look for the possibilities.
According to a source,
“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future — this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.”
The product lead will operate closely with teams across Amazon, which will include AWS to formulate the roadmap for better customer experience, capabilities, technical strategies, and also launch strategy. There is no Amazon Bitcoin payment or any other digital currency payment as of now. According to a company’s spokesperson,
“Inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon.”
Presently AWS (Amazon Web Services), which is the cloud computing app, provides Managed Blockchain service. The service enables users to create private networks or join public networks across various AWS accounts along with the open-source framework, Ethereum, and Hyperledger Fabric. According to Amazon, this framework allows secure transaction and sharing of data on an immutable and distributed ledger.
Now, if you are wondering, how to invest in Amazon cryptocurrency? Then let’s clarify. There is no sure news on whether Amazon will formulate its own digital currency or it will accept payments in some already existing crypto like the Amazon Bitcoin payment. And there is no particular Amazon cryptocurrency name as well.
In a similar scenario, Apple has also posted a job advertisement seeking recruitment for “Business Developer Manager — Alternative Payments” this May that shows their interest in cryptocurrency. The payment vertical of the company called the WPC (Apple Wallets, Payments, and Commerce) was planning to recruit a development manager to conduct its “Alternative Payment Partnerships.” According to the co-founder and CEO of Zebi that is a blockchain company,
“It is indeed a great sign that major companies are starting to adopt digital currencies. As true believers of decentralization, we have always seen this as inevitable. It is the equivalent of banks getting computerized 20 years ago.”
Due to the lack of demand, Amazon used to be skeptical about digital currencies in 2017, but as the popularity of cryptocurrency grew as a mode of savings and investments, there are enough people willing to use cryptocurrencies for payments and avoid the conversion into real money. So Amazon now accepts crypto.
What remains to be witnessed is how Amazon handles the fluctuations of digital currencies like Bitcoin that can fluctuate at any time? Will people need an Amazon Bitcoin wallet? Perhaps the company will convert the crypto to fiat money fast. On the other hand, it may wish to make some profits by waiting till the cryptocurrency price rises. But no matter how Amazon uses cryptocurrency in its working system, the very idea that such an e-commerce giant will accept digital currency raises their value and makes the holders richer.