Updated: 27-07-2021
Amazon will accept bitcoin payments by year’s end according to an insider.
Amazon published a job listing on Friday for a cryptocurrency and blockchain expert. The job description states that the candidate must be able to create the company’s digital currency strategy as well as its product roadmap.
British business newspaper City A.M has been informed by an anonymous source that bitcoin payments will be accepted by the e-commerce giant. This development could help accelerate cryptocurrency adoption if true. The insider says the plan is to go deeper than simply getting someone to explore the crypto possibilities.
The source told City AM:
“This isn’t just a movement to create cryptocurrency payments solutions at some future point – it’s a full-fledged and well-discussed integral part of the future mechanism for how Amazon works.
It all begins with Bitcoin – This is the first phase of the crypto project and the directive comes directly from Jeff Bezos.
Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online.
It won’t take long, because the plans have already been in place and they have been working on them since 2019.”
The US third-largest public company is also preparing to launch its own cryptocurrency token.
Back in November 2018, Amazon Web Services, a subsidiary of the cloud computing e-commerce giant, launched two blockchain services.
“When all these crypto ducks are lined up, there’s another twist to push things even further into Amazon’s favour – a native token,” the insider explained.
The Source Told City AM:
“After a year of experiencing cryptocurrency as a way of making payments for goods, it is looking increasingly possible that we’re heading towards tokenisation.
“This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme.
“There’s little more to it, for now, but you can guarantee the Bitcoin plan will be monitored closely as opportunities with Amazon’s own version of a crypto will be explored.”
Changpeng Zhao, Binance CEO, reiterated his belief that Amazon will have to issue its own token in order to keep up with cryptocurrency rise back in Feb 2019.
Zhao, who is a prominent figure in the cryptocurrency industry and also runs Binance, posted a tweet on February 2nd, 2019.
“Amazon will need to issue currency sooner or later.”
Amazon denies report of accepting bitcoin as payment
Reuters Writes:
“Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.
The report from London’s City A.M. newspaper, citing an unnamed “insider”, sent the world’s biggest cryptocurrency up as much as 16.5%.
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon.
“We remain focused on exploring what this could look like for customers shopping on Amazon.”
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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