Over the past couple of days, it’s been trending in the crypto ecosystem that Amazon, the leading e-commerce platform, is exploring the crypto industry for a possible integration of Bitcoin and cryptocurrency payments.
The top e-commerce firm is looking for a Digital Currency and Blockchain Product Lead, according to a recent official job posting found on the website.
As the report had it, Amazon is seeking someone with the potential to innovate within the payments and financial system, who will also be part of the firm’s Payments Acceptance and Experience.
Working with other departments in the company, the crypto Product Lead would need to make full use of their experience in Bitcoin (BTC), Blockchain, Distributed Ledger Technology (DLT), and central bank digital currency (CBDCs), to map out their strategy and vision.
As means to support the project, the job post mentioned services, customer experience, and a complete technical strategy.
As reported by City AM, someone who is closer to the matter has confirmed that Amazon plans to launch Bitcoin and crypto payments by the end of 2021. Moreover, the firm could also launch its own digital currency in the coming year.
The source said as follows:
“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.”
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The source, according to City AM, further stated that the project has got the approval of Jeff Bezos, the executive chairman and founder 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…”
According to the source, the project will begin with Bitcoin (BTC), but it will not be limited to the flagship crypto, stating that Amazon is also ready to explore payments with other digital currencies, especially the top 10s, such as Ethereum (ETH), Cardano (ADA), among others.
As soon as a fast and secure method of crypto payments using Bitcoin (BTC) is established, the second phase of the project, which will involve other cryptocurrencies will be launched:
“Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online. It won’t take long because the plans are already there, and they have been working on them since 2019.”
The source also hinted that the final stage will involve the launch of an Amazon native token:
“This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme. There’s little more to it, for now, but you can guarantee the Bitcoin plan will be monitored closely as opportunities with Amazon’s own version of a crypto will be explored.”
However, since Amazon has not released an official statement in relation to the matter, everything mentioned above should be treated as speculation until it’s confirmed officially.