The cryptocurrency fever is spreading like wildfire across industries, including the e-commerce sector. In view of this, e-commerce giant, Amazon has caught the fever and has indicated its readiness to incorporate and accept Bitcoin payments on its platform. Moreover, it has taken a significant step towards this decision by putting up a job posting for Digital Currency and Blockchain Product Lead.
According to the job description, the blockchain lead must be capable of innovating within the payments and financial system and would also be part of Amazon’s Payments and Experience Team. While working alongside other departments in the Amazon, the blockchain lead would cull his experience in the blockchain, crypto and Central Bank Digital Currencies (CBDCs) sectors to map out a framework and execution plan for the Bitcoin payments integration.
Amazon to Introduce Native Token in 2022
According to reports, Amazon’s vision is long-term and exceeds a digital and blockchain lead. While the Bitcoin payments will be integrated on the platform before the close of the year, Amazon is looking forward to issuing its native token by the next year, which users could use to purchase items on the e-commerce platform and earn loyalty points for purchases.
“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.”
Amazon Eyes Top 10 Cryptocurrencies Including Cardano, Ethereum
The decision to integrate Bitcoin payments is said to have come from the very top, according to reports. Amazon also has its eyes set on other crypto payment means including Cardano and Ethereum, to present users with a range of options. The journey to crypto payments integration begins with flagship cryptocurrency, Bitcoin.
As this report comes to public knowledge, Electric Vehicle, Tesla is yet to reinstate Bitcoin payments after controversially discontinuing it in May due to environmental concerns on mining. The reactions which greeted the decision were wilder than the ones which heralded the first announcement. Tesla had however assured a reinstatement if green Bitcoin Mining exceeded its previous levels.
In light of the above, it would seem that Amazon’s resolve is spurred by the Bitcoin Mining Council report which detailed an improvement of the level of green BTC mining to above 56%. Although Tesla is yet to reverse its decision, Elon Musk hinted at a reinstatement during the B-word July conference.
Cryptocurrencies are making inroads into the mainstream sector in giant strides, given that global firms and traditional institutions are now embracing their adoption. In the coming months, they will become the face of finance. Online payment service giant Paypal has also integrated crypto payments and now facilitate unlimited crypto transactions