Amazon Bullish On Crypto! They Take A Step To Accept Crypto Payment
Amazon, the absolute giant corporation, is now looking into cryptocurrency in a very serious form. The company has posted a job listing for a Digital Currency and Blockchain Product Lead. The new hire will work in the payments acceptance and experience team to own the vision and strategy for Amazon’s Digital Currency and Blockchain strategy and product roadmap.
Amazon presently has more than 70 openings for blockchain specialists, so the company could also be building out a blockchain supply business for customers of its Amazon Web Services. Amazon understand how big this is. It’s not just one or two jobs. They’re up to 70 openings for blockchain specialists.
The biggest question that when this all comes into play?
They want to be able to accept Bitcoin and other cryptocurrency assets as a form of payment. Now, the biggest question that we will see when this all comes into play, will they accept Bitcoin and other crypto assets and will they store them or will they be transferring the cryptocurrency assets into Fiat? That’s going to be a big thing to watch out for. It would be a massive move if Amazon accepts cryptocurrency and they handle the actual asset instead of turning that into a fiat currency.
Amazon has long had an interest in digital currency. In 2013, the company launched Amazon Coins, a virtual currency that was used to let customers make transaction and Kindle based applications and games. Amazon Coins are still sold today and have maintained their value of roughly one cent each. In 2017, the company bought three cryptocurrency web addresses, but didn’t discuss why.
Amazon understands that cryptocurrency is here to stay
I believe that they’re going to just incorporate accepting Bitcoin, Dogecoin and other crypto assets like that and just keep up with the times. And also, I believe that Amazon understands that cryptocurrency is here to stay. They want to be a leader in this space. They want to be someone that’s bringing this first to store and they want to use the hype around cryptocurrency and everything going on around cryptocurrency to help their brand and continue to push it forward.
Amazon, at present, does not accept cryptocurrency payments. Some popular apps, such as BitPay, allow people to exchange their Bitcoin, Ethereum, Dogecoin, and more for Amazon gift cards. But now Amazon is probably looking to not have that third party in there. They want to be able to serve as the customers themselves.