Amazon may Ok cryptocurrency payment this year

Amazon is working on assembling payment acceptance experts to help develop its digital currency, blockchain strategy, and product blueprint according to a report.

Against all odds, cryptocurrency will make a giant leap in the coming weeks if the e-commerce giant (Amazon) finally introduced cryptocurrency as planned to accept payment for goods and services.

This will undoubtedly make cryptocurrency grow more popular.

What do you make of the fact that forty percent of global consumers have routed seriously and signaled to use cryptocurrency for payments?

It’s in the wave of this decision that Amazon is looking to avoid income leakage and Capitalize on the wind of change to follow the trends and dynamics of the recent payment acceptance in cryptocurrency.

The initial source says:

“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.”

However, it was revealed that bitcoin will be the flagship crypto in Amazon’s ambition, while other cryptocurrencies will follow suit shortly.

According to the source “This directive is coming from the very top, referring to Jeff Bezos, this entire project is pretty much to roll.”

It’s noteworthy to state that Amazon is looking up to creating its cryptocurrency in 2022 possibly.

The job posting mentioned, “The candidate will work closely with teams across Amazon including AWS to develop the road map which includes customer experience, technical strategy, and capabilities as well as the launch strategy.”

While responding to the posting, Amazon in its words said “We are inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon.

“We believe the future will be built on new technologies that enable modern, fast, and inexpensive payment, and hope to bring that future to Amazon customers as soon as possible.”

The Impact

There’s no doubt that this single decision from the world global giant will boost cryptocurrency acceptance for payment worldwide, not forgetting there’s bound to be a competitive advantage since it will trigger exponential traffic and sales on its website.

Amazon is believed to have come up with certain strategies to make payment with cryptocurrency fun by embedding crypto acceptance in Amazon Pay, Amazon’s buy button that’s open to third party merchants, this is believed to make the solution more endearing and attractive.

The picture and what you should know

Other Fintechs and companies have ventured into crypto payment.

For example, Amazon intends to start payment receipt with Bitcoin, which means that just like Tesla, Bitcoin will be the first cryptocurrency the e-commerce giant will accept.

Twitter CEO Jack Dorsey suggested recently that Bitcoin payments could soon be accepted on the social media platform.

PayPal as a payment giant has hired former Chain analysis executive and crypto expert Jesse Spiro to take the front in its crypto regulatory affairs, likely to join the crypto business.

There are good prospects for Bitcoin and other cryptocurrencies, the world has taken off and is not decelerating for any reason.

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