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Amazon Considering Accepting Digital Currencies As Payment?

Amazon Considering Accepting Digital Currencies As Payment?

E-commerce behemoth Amazon has kicked off speculation that it may be considering accepting cryptocurrencies such as Bitcoin as a payment mode. The speculation comes after Amazon placed an ad for a “digital currency and blockchain product lead” for the platform’s payments team. 

The Job Listing 

The job listing that set off the speculation stated that the Amazon Payments Acceptance and Experience team is “seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.”

The ad further states, 

“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 the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”

The lead will also be expected to work closely with teams across the company, including Amazon Web Services. The work with Amazon Web Services will focus on developing technical strategy and capabilities, customer experience, and the launch strategy. As of now, Amazon does not accept cryptocurrency payments. 

The digital currency and blockchain lead would also be expected to operate with a high level of autonomy and operate analytically. The lead is also expected to build innovative solutions to existing unresolved problems by working with data and customer insights. 

Inspired By Innovation 

When asked about the possibilities of the e-commerce giant accepting cryptocurrencies, a company spokesperson stated that the company was inspired by the innovation occurring in the cryptocurrency space, and it was looking at how this could fit in on Amazon. Currently, Amazon Web Services offers a managed blockchain servicer. 

Other Companies Jumping On The Cryptocurrency Express 

Amazon is not the only multinational company exploring options when it comes to cryptocurrencies. Tech behemoth Apple had also posted a similar job listing earlier in the year, looking for a business development manager with experience working with alternative payment providers such as digital wallets, cryptocurrencies, Fast Payments, and BNPL. 

Tesla is also once again bullish on the prospects of cryptocurrencies, with Tesla CEO Elon Musk confirming that the company will mostly resume accepting Bitcoin as payment after some due diligence on improving energy consumption in the mining of the cryptocurrency. 

Twitter-Bitcoin Integration 

Twitter has been significantly bullish on cryptocurrencies, with CEO Jack Dorsey bringing up the importance of decentralized social media. He further stated that Twitter would be integrating Bitcoin, the internet’s “global native currency,” making it a significant part of Twitter moving forward. 

This was the first time that Twitter CEO Dorsey discussed the potential integration of Bitcoin with Twitter. The company plans to integrate Bitcoin with several existing Twitter products and with new products such as the “Tio Jar” and “Super Follows.” Dorsey Stated, 

“If the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach,”

A Strong Believer In Cryptocurrencies 

Jack Dorsey is a believer in cryptocurrencies and also spoke about them at the B Word conference. He described Bitcoin as “principled and constantly evolving” while explaining why he was so bullish about the cryptocurrency during a panel discussion with the CEO of Ark Invest, Cathie Wood, and Tesla CEO Elon Musk. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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