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Will Amazon start taking cryptocurrencies as payment

Sources inform that the e-commerce giant is looking to hire blockchain product lead and digital currency.

An insider claims that amazon will accept cryptocurrencies.

Amazon’s Payments Acceptance & Experience team has recently posted a job opening and it’s unique it says “seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap”.

It goes on “You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities,” and that is complete post.

We know that Amazon does not accept cryptocurrencies as a payment, yet! An insider told us the inspiration came to them through the growing market of cryptocurrencies and its possibilities. Amazon wants to experiment on how it could affect them.
AWS the Amazon Web Services wing also known as the Cloud arm of Amazon, proposes a managed blockchain service. The experts said the new digital currency and blockchain product lead needs a high level of autonomy and operate analytically , working backwards from data and customer insights to build new and innovative solutions to unsolved problems.

Insider talks

We had a chat with an insider he described Bitcoin as the beginning for Amazon to enter the cryptocurrency payment.

Our London department got an anonymous tip from a person who claimed to be working at Amazon. He / She told that amazon will start accepting Bitcoin (BTC) payments by the start of 2022. This will pave the way for broader mainstream acceptance of crypto transactions.

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future — this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the source told City A.M., according to a report published on Sunday.

Related: Bringing the crypto payments ecosystem around the world: Ray Youssef

The source indicated that, while Bitcoin is the first step in Amazon’s crypto ambitions, executives at the company were keen to add other established cryptocurrencies in the future. The “directive is coming from the very top,” referring to Jeff Bezos, they said, adding:

“This entire project is pretty much ready to roll.”

In addition to accepting Bitcoin payments, Amazon is said to be exploring the creation of its own cryptocurrency, possibly as early as 2022, they said.

Speculation about Amazon’s entry into the cryptocurrency market has been raging for days after a new posting for “Digital Currency and Blockchain Product Lead” appeared on the company’s job board last week. As per the job description, the new hire will help develop Amazon’s digital currency strategy and product roadmap. The position requires strong domain expertise in blockchain, distributed ledgers, central bank digital currencies and crypto more generally.

Related: Countries representing over 90% of global GDP are exploring CBDCs

This isn’t the first crypto-focused job posting at Amazon. As Cointelegraph reported, the e-commerce giant in February was recruiting a technical lead to help develop its new “Digital and Emerging Payments” platform.

Tech giant Apple posted a similar listing in May for a business development manager “working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency, and etc.”

Tesla and Twitter are bullish on Bitcoin as the next payment mode. The online world needs a global currency, and our focus is on Bitcoin because with this cryptocurrency, we can reach every single person on the planet, Twitter CEO Jack Dorsey has stressed.

Meanwhile, Tesla CEO Elon Musk has confirmed that the company is “most likely” going to resume taking Bitcoin payments after some due diligence on the improvements in the energy mix used to mine the cryptocurrency.