Wed. Oct 27th, 2021

Amazon.com Inc. (NASDAQ: AMZN) plans to venture into the cryptocurrency payment area and, according to one expert, will start with BTC. An anonymous expert told City AM that the e-commerce retailer would begin accepting BTC payments later this year, laying the groundwork for widespread adoption of cryptocurrency transactions.

Amazon is venturing into the cryptographic industry with the launch of a cryptographic payment system.

The source said: “This is not just about moving to establish cryptocurrency payment solutions at some point in the future, but it is an integral, well-discussed part of the future mechanism of how Amazon will work.”

According to the source, while BTC is the first step in the company’s cryptocurrency ambitions, Amazon executives want to include other popular cryptocurrencies in the coming days. The source said the board was coming from above, referring to CEO Jeff Bezos, and most importantly, the whole project is ready.

Amazon plans to create its cryptography starting in 2022

In addition to accepting BTC payments, the company is exploring the possibility of creating its own cryptography as early as next year.

In recent days, there has been a lot of speculation about the entry of Amazon into the cryptographic space after a new list, “Digital Current and Blockchain Product Lead”, appeared on the Amazon job market a week ago. According to the site description, the position will be sensitive in the development of the company’s virtual currency strategy and product route. In particular, the position is looking for someone with experience in solid domains in distributed ledgers, blockchain, cryptocurrencies and digital currencies guaranteed by the central bank.

It’s important to note that this isn’t the first job the company is announcing looking for someone with knowledge of cryptography. For example, in February, the company said it was hiring a technical manager to develop a new “Digital and Emerging Payments” solution.

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