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Amazon job posting hints at potential plan to accept cryptocurrencies

  • Speculation over what it could mean causes Bitcoin to surge to near $40,000, with the coin up as much as 15% on Monday
26 Jul, 2021
Source: Reuters
Source: Reuters

Amazon, the e-commerce giant, seems to be toying with the idea of using cryptocurrencies as payment for its products.

A recent job opening indicates that its payments team is looking to hire a 'Digital Currency and Blockchain Product Lead', a subtle hint that the company might be planning to let its customers use cryptocurrencies to make their payments.

With Amazon being one of the Big Five information technology companies in the United States, speculation over what it could mean caused Bitcoin to surge to near $40,000, with the coin up as much as 15% on Monday.

Bitcoin leaps 12% to test recent peaks, ether hits 3-week high

The company expressed its interest in digital currencies by mentioning in the job post that the new hire would be required to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.

However, it is important to note that being one of the largest e-commerce companies in the world, Amazon experiments with a lot of new features and innovations, but does not end up investing in all of them.

Nonetheless, the cryptocurrency space has inspired a lot of innovation and creativity, where many big companies in the tech sector are investing in new technologies and cryptocurrency. Microsoft was also an early adopter of Bitcoin and started accepting payments in bitcoin for games, apps and other digital content in 2014.

Others which have adopted cryptocurrency payments include Paypal, Overstock, Etsy, and even Starbucks.

Despite speculations, Amazon has not confirmed any plans related to cryptocurrency payments as yet. However, it is anticipated that Amazon and many other tech giants would want to be at the center of this new cutting edge payments technology.

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