Amazon To Launch Its Own Cryptocurrency & Accept Bitcoin Payments, Insiders Say
Image via Natee Meepian / Shutterstock.com
New speculations have surfaced regarding Amazon’s potential foray into the world of cryptocurrency, following the sighting of a “cryptocurrency and blockchain lead” job listing from the company, as well as a leak from an insider.
The source, who spoke to City AM, said that the retail giant would likely begin accepting Bitcoin payments “by the end of the year.”
It also seems that the company is gearing towards launching its own in-house cryptocurrency token in 2022, as per Input. “This is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the source said.
Like many other brands that reward customers with loyalty points, Amazon’s future cryptocurrency could run as “a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme.” Imagine earning cryptocurrency rewards every time you make a purchase on Amazon Prime!
According to City AM, the insider said that before unveiling its own token, Amazon will first integrate existing cryptocurrency tokens, including Ethereum, Cardano, and Bitcoin. In total, the site will accept “eight of the most popular cryptocurrencies online.”
Would a cryptocurrency launched by one of the world’s largest corporations take tokens mainstream? Or will customers still choose to make purchases by fiat cash? Let’s see.
[via Input, cover image via Natee Meepian / Shutterstock.com]
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