Amazon is said to accept Bitcoin payments by the end of the year. The marketplace is looking to accept Bitcoin payments ‘by the end of the year’, and is investigating its own token for 2022. Ethereum, Cardano and Bitcoin Cash will be next in line.
Amazon is “definitely” lining up Bitcoin payments and its own token, an insider told City AM. There is most likely a whole plan and timeline behind the idea of accepting Bitcoin on Amazon marketplaces.
The idea of the combination of Amazon and cryptocoins started floating around after the e-commerce giant published a job advertisement for a cryptocurrency and blockchain lead. Amazon is looking for someone who can “leverage domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency”.
Moreover, City AM says that Amazon’s plans with crypto run much deeper than just hiring someone to examine possibilities. Furthermore, Amazon is not just going through the motions to set up cryptocurrency payment solutions at some point in the future – it is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work, according to City AM.
The first step of the crypto project, with the directive coming from Jeff Bezos himself, is for Amazon to accept Bitcoin payments by the end of 2021. Once it has established a fast and secure method of Bitcoin payments, Amazon will probably tick off other big cryptocurrencies.
Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online. It probably will not take long because the plans are already there. In addition, they have been working on them since 2019. "This entire project is pretty much ready to roll."
The next step would be to push things further into Amazon’s favor and that is presenting a native token. After Amazon has experienced with accepting cryptocurrency for a year, the e-commerce company might head towards tokenization. The idea would be that Amazon customers can pay for goods and services or earn tokens in a loyalty scheme.
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