Amazon, the fourth top-ranking company worldwide is currently recruiting blockchain experts. A move many observers are quick to term as a footprint shadow a probable future intention towards accepting cryptocurrencies for payment.
The revelation of Amazon recruiting cryptocurrency experts from the industry hits the blockchain space with over-excitement; many investors already trying to make early moves to leverage.
Amazon in Search of a Blockchain Expert
What many have derived as Amazon’s soon-to-be expansion into the crypto industry started with a simple job post listing on Friday, July 23th, 2021.
The job listing for a Product Leader was by the company’s Payments Acceptance and Experience team. The drive is basically to hire a competent product leader to build a Digital currency for Amazon. The lucky candidate has been tasked to come up with a Blockchain strategy and product road map for the company. With the expert overall domain experience, Amazon wants it to be leveraged on blockchain technology, distributed ledgers, Central Bank Digital Currencies (CBDCs), and cryptocurrencies.
Amazon’s stipulated qualifications for the position included more than 10years of experience in the field of product marketing and management related; experience in the area of feature delivery and tradeoffs of a product; good analysis of data; good written and verbal communication; MBA or related experience. The list goes on.
Mixed Reports Trail Amazon’s Announcement
Many speculations have since made rounds following the company’s latest job listing. Many speculate that since Friday, the e-commerce giant company is readily set to support cryptocurrency methods of payment. Conclusively, it stated that the company has thus finally lit the fire by integrating digital currency into its payment system.
Speculations turned to rumors as claims manifested that Amazon will start with Bitcoin (BTC) and was even ready to roll out more of its variants such as Bitcoin Cash, Ethereum, and Cardano.
Another false claim stated by an “anonymous insider” was that the new deal is not just a project to incorporate the digital assets into the company’s payment solution; it is a critical part of the future mechanism of how Amazon as a company will operate.
Amazon’s Debunking Statement
In reaction to the widespread speculation and barrage of misinformation, Amazon revealed otherwise that it will not be supporting any digital currency payments coming to the end of 2021.
The statement is proving to the contrary of the earlier report issued by City AM claiming the company is set to begin accepting crypto payments in a few months.
Amazon’s Blockchain History
In November 2018, twin blockchain services were put out by a cloud computing subsidiary of the e-commerce giant, Amazon Web Services. However, a year before, Andy Jassy, current CEO of Amazon (then CEO of Amazon Web Service), had dismissed the necessity of the technology telling the community not to expect it “anytime soon.”
The company’s cloud-computing unit, AWS, provides a blockchain-related service called the managed blockchain. However, the limitation to the technology is due to Amazon not accepting digital coin payments for its commodities.
However, the innovative way around the crypto-Amazon payments barrier appears in the form of Bitcoin-purchased Amazon gift cards. Both Paxful and Bitrefill allow Bitcoin owners to purchase Amazon gift cards with BTC which can then be used to purchase from Amazon. This essentially utilizes Bitcoin to purchase on the Amazon platform.
BTC Price
As of the time of publication, Bitcoin’s price was $40,161.91 with a 24-hour trading volume of $40,815,764,019. BTC price also rose up 7.5% over the last 24 hours.
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