Amazon ‘definitely’ lining up Bitcoin payments and token, confirms insider

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An insider claims that Amazon wants to accept Bitcoin payments “by the end of this year” and is currently investigating its own token for 2022.

After publishing a job posting for a lead in cryptocurrency and blockchain, the internet giant set tongues wagging this weekend.

This vacancy is clearly an indication that the company intends to move towards cryptocurrency transactions. It requires someone who has ‘leverage domain knowledge in blockchain, distributed ledger central bank digital currencies, and cryptocurrency’.

It also stated that it would like to “develop the case for capabilities which should be developed and drive overall vision, product strategy and leadership buy-in for investment in new capabilities.”

You don’t need to be a genius to see where Amazon is going with its recruitment strategy. However, an insider says that the plans go much deeper than just bringing someone onboard to explore possibilities.

She explained to City AM that this was not just about setting up cryptocurrency payment solutions in the future. This is an integral part of the future Amazon mechanism.

“It starts with Bitcoin – This is the first key stage of the crypto project and the directive comes from the very top… Jeff Bezos.

Insiders also revealed that the fourth-largest company in the world was keen to tick off other big cryptocurrencies once they had developed a secure and fast method for Bitcoin payments.

She added that ‘Ethereum and Cardano, as well as Bitcoin Cash, will be the next to bring eight of the most popular cryptocurrency online’.

“It won’t take long, because the plans already exist and they have been working towards them since 2019.

Are you ready to roll?

“This whole project is almost ready to go.”

Although it’s likely that Amazon would be involved in the cryptocurrency space, it is Bezos who could make things even more interesting.

“When all these crypto ducks have been lined up, there is another twist to push Amazon even further in Amazon’s favor – a native token,” explained an insider.

“After one year of using cryptocurrency to make payments for goods, it’s becoming increasingly likely that we will see tokenization.

“This infrastructure can then be used to pay for goods or services, and earn tokens through a loyalty program.

“There is not much more to it for the moment, but you can be sure that the Bitcoin plan will continue to be closely monitored as Amazon explores opportunities with its own crypto.