Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Insider Reveals: Amazon To Accept Bitcoin Payments By End of 2021, Plans Its Own Coin for 2022

Insider Reveals: Amazon To Accept Bitcoin Payments By End of 2021, Plans Its Own Coin for 2022

The rumors that the ecommerce giant Amazon might be warming up to Bitcoin and crypto payments are strengthening. “It begins with Bitcoin,” said an anonymous insider on Amazon’s intent to enter the cryptocurrency payments arena.

Amazon is currently looking for a Digital Currency and Blockchain Product Lead, according to a job posted on their jobs website. The ecommerce firm wants someone with the capacity to “innovate within the payments and financial system” and would be part of their Payments Acceptance & Experience Team.

Working together with other departments, the crypto Product Lead would need to use their experience with Bitcoin, Blockchain and Distributed Ledger technology, central bank digital currencies (CBDCs) to create a strategy and vision.

According to the news website City A.M., an anonymous insider close to Amazon has confirmed that Amazon is “definitely” looking to launch Bitcoin and crypto payments by the end of the current year.

Also, Amazon could launch its own token by 2022.

The insider revealed that Amazon has a plan that goes way beyond their Digital Currency and Blockchain Product Lead job. The source said:

“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 project has been approved by Amazon’s executive chairman and founder Jeff Bezos himself, according to the insider.

“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top…”

The project is “pretty much ready to roll” and will start with Bitcoin but will not be exclusive to it. Amazon executives are apparently “keen” to explore payments with other cryptocurrencies in the top 10 by market cap. The second phase would be launch once they had “established a fast and secure method of” crypto payments.

“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.”

Amazon to Launch Their Own Token
The last stage will involve the creation and launch of an Amazon native token. The company has been allegedly experimenting with cryptocurrencies to pay for goods for around a year and founds feasibly to head towards “tokenization”.

“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.”

Amazon has not made an official statement on its supposed crypto project. Thus, anything remains as a rumor and speculation until official confirmation and should be taken with caution.

At the time of writing, Bitcoin trades at $38,052 with a 11% profit in the daily chart, after breaking out of a weeks long stagnant phase.

Source: Amazon To Accept Bitcoin Payments By End of 2021, Plans Its Own Token Next – Fintechs.fi

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Druzhba Pipeline Incident Sparks Geopolitical Tensions
Cost of Opposition Leader Péter Magyar's Economic Plan Revealed
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Budapest Central European Fashion Week Kicks Off
U.S. Celebrates Labor Day
Hungarian National Team Captain Scores Epic Goal
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Japanese Customer Sways from VW to BYD after “Unbelievable” Test Drive amid Dealership Expansion
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Pickles are the latest craze among Generation Z in the United States.
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
White House Eyes Budapest for Peace Talks
Cave Diving Beneath the Streets of Budapest
Another American Restaurant Chain Opens in Budapest
Hungarian Opposition Politician Supports Ukrainian Commander
Opposition Leader Threatens Media Outlets
American Airlines Adds New Flights to Budapest
F1 Hungarian Grand Prix Wraps Up
WhatsApp is rolling out a feature that looks a lot like Telegram.
U.S. Trade Representative says Washington still negotiating trade deals after court rules tariffs illegal
Von der Leyen says Europe drawing up 'precise' plans to send troops to Ukraine
Kremlin accuses Europe of hindering Trump’s peace efforts in Ukraine
×