Amazon's rumored foray into Bitcoin and cryptocurrency payments is gaining traction. According to a job posting on its website, the e-commerce behemoth is recruiting for a Digital Currency and Blockchain Product Lead.
According to Bitcoinist, Amazon is looking for someone who can “innovate within the payments and banking system” to join their Payments Acceptance & Experience Team.
The crypto Product Lead would need to utilise their experience with Bitcoin, Blockchain and Distributed Ledger technology, and central bank digital currencies (CBDCs) to establish a strategy and vision in partnership with other departments.
As a result, Amazon would be able to get "leadership buy-in" for these capabilities. Customer service, reference services, and a thorough technical plan to support the project were all included in the job offer.
An "insider" has verified to the news website City A.M. that Amazon is "absolutely" looking to implement Bitcoin and crypto payments by the end of the year. In addition, by 2022, the e-commerce behemoth may introduce its own coin.
According to the news site, Amazon has a plan that extends beyond the position of Digital Currency and Blockchain Product Lead. According to the source:
This isn't just going through the motions of setting up cryptocurrency payment systems in the future — it's a full-fledged, well-discussed, and vital aspect of how Amazon will operate in the future.
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The proposal has also received permission from Amazon's executive chairman and founder Jeff Bezos, according to the insider.
It all starts with Bitcoin - this is the crucial first stage of this crypto enterprise, and the command comes from the top...
The initiative is "very much ready to roll" and will begin with Bitcoin, though it will not be limited to it. Amazon executives are reportedly "excited" about the prospect of accepting payments in other cryptocurrencies in the top ten by market capitalization. Once they had "developed a rapid and safe means of" crypto payments, the second phase would be launched.
Before they bring about eight of the most popular cryptocurrencies online, Ethereum, Cardano, and Bitcoin Cash will be next in line. It won't take long because the plans are in place and have been in the works since 2019.
The construction and launch of an Amazon native coin will be the final stage. For the past year, the corporation has supposedly been experimenting with cryptocurrencies to pay for items and believes it is feasible to move toward "tokenization."
This transforms into a multi-level infrastructure where you may pay for goods and services or earn loyalty tokens. For the time being, there's not much else to say, but you can bet the Bitcoin plan will be keenly studied as potential with Amazon's own cryptocurrency are investigated.
Amazon has yet to make an official announcement about its rumored cryptocurrency effort. As a result, without formal confirmation, anything remains a rumor and speculation that should be treated with caution.
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