Amazon is seeking to accept Bitcoin payments “by the end of 2021,” and is looking at creating its own token for 2022, says a person inside the company.
The internet giant has sent Bitcoin fans into overdrive over the weekend after posting a job advertisement for a crypto and blockchain leader.
The vacancy, clearly a sign the company is starting down a path towards crypto transactions, calls for someone who can “leverage expertise in distributed ledger, blockchain, cryptocurrency and central bank digital currencies.”
It adds that it wishes to “create the case for these capabilities which should be created, drive vision and strategy, and get leadership and investment for new possibilities.”
It does not take a genius to know where Amazon is going with this, and according to an insider, the plans go much deeper than just hiring someone to look at possibilities.
“This is not going through the motions to create a cryptocurrency solutions at some time in the future – this is a well-researched, integral part of how Amazon will work in the future,” she said.
“It starts with Bitcoin – this is the initial stage, and the directive is being pushed from the top… Jeff Bezos himself.”
The insider also said that directors of the company were also going to move towards accepting the other big cryptos once it accepts Bitcoin.
“Ethereum, Bitcoin Cash and Cardano will be the next ones in line before they come out with eight of the top cryptocurrencies,” she said.
“It won’t take very long since the plans are already done, and they have been pushing for this since 2019.”
Ready to go
“This whole project is pretty much ready to go.”
It is possible that the involvement of a huge player with the size of Amazon in the crypto space would increase adoption and the value of Bitcoin and the popular alt coins, but it is Jeff Bezos’ next plan which might lead to even greater intrigue.
“With all these crypto ducks being lined up, there is another twist to drive things even more into Amazon’s favor – a native crypto token,” the insider said.
“After a year of having cryptocurrency as a way to make payments for goods, it is seeming increasingly likely that we are going towards tokenisation.”