Amazon to allow users to make payments using cryptocurrencies

Amazon to allow users to make payments using cryptocurrencies

Amazon.com, Inc. has recently hinted plans to allow users to make purchases using cryptocurrencies like Bitcoin as a mode of payment. The news comes as the e-commerce giant is looking to recruit a digital currency and blockchain product lead for its payments team.

According to a recent job posting, Amazon's team is looking for a skilled product leader to build Amazon's Blockchain and Digital Currency strategy and product roadmap.

As per the company, the lead will be responsible for utilizing expertise in Blockchain, Central Bank Digital Currencies, Distributed Ledger, and Cryptocurrency to build the case for the capabilities that should be developed, drive overall product strategy and vision, and gain leadership buy-in and investment for new capabilities.

The product lead will collaborate closely with teams throughout Amazon, including AWS, to define the technical strategy, customer experience path, capabilities, and launch strategies.

Amazon said that the new blockchain product and digital currency lead would require operating with a high level of authority, working backward from data and customer insights to generate new and inventive solutions to meet challenges.

A company representative said that Amazon was excited by the innovation happening in the cryptocurrency area and evaluated what this may look like on its platform.

AWS (Amazon Web Services), the company's cloud division, presently delivers managed blockchain service. However, at present, Amazon doesn't agree to take cryptocurrency as a form of payment.

Incidentally, Apple had also posted a similar opening in May for a BDM position with experience working in or with alternative payment providers, such as BNPL, Fast Payments, digital wallets, cryptocurrency, etc.

According to Jack Dorsey, Twitter CEO, the online world requires a global currency, and they are focusing on Bitcoin as it allows them to reach every individual on the planet.

Furthermore, the CEO of Tesla, Elon Musk, indicated that the company will "very likely" resume accepting Bitcoin payments after conducting due diligence on improvements to the energy mix used to mine the cryptocurrency.

Source Credit - https://economictimes.indiatimes.com/markets/cryptocurrency/amazon-may-soon-allow-users-to-pay-in-cryptocurrencies-like-bitcoin/articleshow/84727484.cms