Amazon is the largest e-commerce company globally. And with such a scale, if it adopts cryptocurrency, then there is really nothing stopping this new technology from reaching its full potential. Recent reports have suggested that the digital payment team at Amazon is looking into cryptocurrencies to form a crypto strategy. They are planning to hire a crypto expert in order to develop products related to the same. One of the company’s spokesperson said that they “are exploring what this(cryptocurrency) could look like on Amazon”.
Amazon getting into crypto.
Recently the company has posted a job listing with the title “Digital Currency and Blockchain Product Lead”. The main idea behind this is to incorporate the payments system of crypto into Amazon. Maybe in some time, we could use Bitcoin, Ethereum and other popular currencies to buy products on Amazon. And seeing the kind of product variety they have, it won’t be wrong to say that you could buy anything literally with crypto in the future.
At present, they are looking to develop a proper roadmap for the same with the help of the new employee. Amazon is also looking to develop an overall vision where they not only develop products but also make investments in new places. According to the Amazon spokesperson, the company believes that crypto and blockchain is the future. The idea of fast and inexpensive payments intrigues them, and they would like to bring it to their platform.
The adoption of crypto
Crypto gives us a break from the traditional finance system, which makes it really interesting to the masses. At the same time, the kind of adoption that is taking place in the industry is why institutions are also looking into crypto. One solid example of this is Apple that banned all crypto apps and wallets from its app store in 2017. And now, in 2021, it added a crypto option to Apple Pay. Tesla already started to accept crypto and even though it is in hold for a while very soon the option will be enabled again. This is because Bitcoin is moving towards the use of renewable energy very fast. And now if Amazon accepts crypto too nothing can stop the growth of the currencies.
What are your thoughts on the new crypto strategy Amazon is looking to form? And do you think we will be able to pay with crypto on their platform very soon? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.