According to reports, Amazon plans to accept bitcoin as a form of payment after which the company will add support for other major cryptocurrencies. “Jeff Bezos himself is giving the directive.”
The Amazon Crypto Project is ready to roll
A report by City A.M. revealed Amazon is in the market to hire a blockchain and digital currency expert. The company is planning to accept Bitcoin and other popular cryptocurrencies, according to a report.
“An insider” at Amazon told the news outlet that Amazon is exploring accepting bitcoin payments “by the end of the year” as well as creating its own token in 2022.
Unlike other platforms, Amazon has a full-on, well-discussed plan to introduce cryptocurrency payment methods in the future, the insider explains, adding that this project is an integral part of the future mechanism of Amazon.
It begins with bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top … Jeff Bezos himself.
The entire project is nearly ready to roll, the insider said, stressing that “it won’t take long since the plans are already in place and they’ve been working on them since 2019.”
The director noted that Amazon’s directors are keen to move forward with adding support for other big cryptocurrencies once a quick and secure method of bitcoin payment is established, saying:
“Ethereum, cardano and bitcoin cash will be next in line before they bring about eight of the most popular cryptocurrencies online.”
In addition to accepting crypto payments, Amazon is also exploring launching its own coin, the insider explained. There’s another twist to push things even further in Amazon’s favour – a native token,” she said, adding:
“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,” she described.
After publication Bloomberg reported that a spokesperson for Amazon said: “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon … We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”
Also read: Square to build a Bitcoin’s hardware wallet. How it Works
