Amazon's future plans

[JillianTaft]

The news of Amazon's involvement in cryptocurrency is now spreading more and more, and e-commerce giant Amazon may take action to integrate Bitcoin and other major cryptocurrencies as payment methods. If the company's strategy is realized, it may become the first major e-commerce platform in the United States to integrate cryptocurrency on its platform.

https://bitcoinist.com/amazon-targeting-bitcoin-payments-seeks-crypto-product-lead/

According to insiders, this is only the first phase of Amazon. Once they "establish a fast and secure" encrypted payment method, the second phase will start. The final stage will involve the creation and launch of Amazon's native tokens. And these Amazon officials did not respond to relevant news, everything is just speculation.
https://bitcoinist.com/amazon-to-integrate-bitcoin-payments-and-launch-its-own-token-by-2022-insider-confirms/

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

[Poker Player]

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

Probably. It's not uncommon in companies, think of Libra for example and Facebook or what Musk and others have done. First they accept/buy Bitcoin because it is the best digital asset but they always want to create/promote another currency because they can't control Bitcoin.

I believe that the recent price increase has been influenced by this rumor. If confirmed, the recent $30K price is going to look like a bargain.

[zanezane]

If they really do plan, I do hope that it's not a discriminatory for them to sell their products much more expensive compared to just fiat also, have they released some sort of roadmap already regarding their plans of integrating cryptocurrency in their platform because people will be expecting something from them and I think it's fair that they will give them a timeline to sort of give hope and hype for their integration.

[Connor Britton]

Although not every internal source is fake. There are obvious reasons why employees who leaked information did not want to be named in news reports. It's not that this story is necessarily legal, but I won't deny a story just because it has internal sources. This is the case for about 90% of stories leaking sensitive information.

[Liamttw]

They are likely to experiment to see if they can integrate cryptocurrency into their ecosystem. They will initially adopt some common existing cryptocurrencies, but in the end they will provide incentives to users who use their tokens.
If this happens, the impact on the crypto market will be huge, and people will pay more attention to crypto after hearing about Amazon tokens.

[Snappycoco]

Oww that's probably the reason why the price action for Bitcoin today was super bullish. Furthermore, its a good news for crypto world specially that one of the biggest e-commerce company in the world is realizing the great use of cryptocurrency. This news could potentially touched those others e-commerce big or small company to think about this big step.

[crwth]

It would definitely be crazy to see an "Amazon Exchange" operating and it's kind of over-the-top since it's already a big company in another industry but if that's what it takes to make cryptocurrency, even more, attracting everybody and make sure that they know what they are doing, why not?

They are probably testing it out already if they have planned something like this. Or this could be FUD.

[southerngentuk]

The perspective here on the matter, I don't think it's something of value either. Because, as we all know, the interest of large corporations in the blockchain field is increasing. Perhaps this interest is like an inevitable part of happening, and it's all we have to wait for it to be accepted.

[Gozie51]

The final stage will involve the creation and launch of Amazon's native tokens.

You see this is just the current phenomenon where organisations lure invest to there business by introducing bitcoin and putting it at the forefront but later go back to develop a native currency that they can control and manipulate or declare the use of another cryptocurrency. Elon musk did that by trying to push bitcoin away and introduced dogecoin.

As of now though, it is going to give bitcoin a bull direction as we have already seen in the last 24 hours

[The Sceptical Chymist]

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

I seriously doubt that.  If Amazon ever creates its own token, it'll likely be something that you'd only be able to use on Amazon for purchases.  An article I read yesterday said they were thinking about making their own coin/token for the purpose of some sort of loyalty/rewards program.  If they tried to do anything else, I'm pretty sure they'd run into all the regulatory barriers Facebook did when they tried to release Libra--so if you're getting your hopes up for a coin like BNB, I'd forget about it.  You can trade BNB on other exchanges, and it has an actual monetary value outside of Binance.  That's probably not going to be the case with whatever Amazon makes for its token (if they even get that far).

But, as I also said in another thread, Amazon accepting bitcoin (and apparently with plans to accept other coins as well) is a great thing for crypto--but I don't think it's earth-shattering news and I don't think people are going to want to spend their crypto instead of fiat.  Why would you?  On the other hand, bitcoin has shot up a few thousand dollars since this "rumor" came out, and it looks like I was wrong about the impact of this news--but that's assuming the increase is, in fact, due to said news.  My guess is that it is, but who knows?

[sunsilk]

If they want to expand just as big as having an exchange, we don't know if that's an official news. Well as we see, these are still rumors until validated from any of their team.

But as seen, there are some hiring that's related to blockchain on their company and that gives the clue why the news came out about their future acceptance of bitcoin.

Whilst for their native token, we cannot be sure if it will be leading to the creation of their own exchange.

[just_Alice]

I don't think Amazon needs to attract any more people, they're already extremely popular and anyone who would’ve wanted their services uses them already.

But the idea of Bitcoin as an intermediate between fiat and their own tokens seems plausible. Many people already know Bitcoin so no one will be afraid or suspect something of such changes, and then all Amazon would need to do is to simply switch Bitcoin to their own token and make a ton of money out of it.

However, people aren’t that naive and this kind of change may not be taken well by the customers, especially if there would be no option available (e.g. choose between fiat, BTC, or Amazon token). In such a case, this could compromise trust, which is the last thing a large company like Amazon needs.

[Princejebs]

It doesn't make sense to me but might to others because they think in one direction.How and why would a company just wake up and engage in crypto and have such kind of ideas in mind.
PayPal joined and they have stared accepting Cryptocurrency but doesn't have plan of launching their own token or OP do you mean they will be going IPO just like the way Coinbase did.
Another reason why they might want to involve in crypto, perhaps they have plans of overtaking the market, one can't trust them

[JillianTaft]

Too embarrassing and shocking, this news was reported and disputed by various industry media as soon as it came out. Some websites publish such big news, quoting "Amazon insiders"...too credible. Everyone believes this! !
It is indeed a rumor.

https://cryptobriefing.com/amazon-denies-rumours-of-cryptocurrency-support/?utm_source=cryptorank&utm_medium=rss

I hope the market will improve, but it seems to have risen completely and is beginning to be affected by changes in Amazon news.

[pealr12]

Too embarrassing and shocking, this news was reported and disputed by various industry media as soon as it came out. Some websites publish such big news, quoting "Amazon insiders"...too credible. Everyone believes this! !
It is indeed a rumor.

https://cryptobriefing.com/amazon-denies-rumours-of-cryptocurrency-support/?utm_source=cryptorank&utm_medium=rss

I hope the market will improve, but it seems to have risen completely and is beginning to be affected by changes in Amazon news.

That's the big disadvantage in crypto everything is base in news, speculation and not actual interest for now, maybe in the future things may change,  any time such big news becomes a rumour with lack of clarity it is the market who suffers, many people rely heavily on news to base their investment decision in crypto, it won't be surprising when the dump will begin again if there is no atom of truth with this news.

[AhmadM]

Some websites publish such big news, quoting "Amazon insiders"...too credible. Everyone believes this! !

It was a perfect bait to be used, I guess. Not to mention the first media (CityAM) who citing claims of that nameless "amazon insider" also quite credible enough, so no wonder if some people thought it was more than just a rumor.

However being said amazon didn't against that they have an interest in crypto and still doing their own research.

[Kittygalore]

I don't think Amazon needs to attract any more people, they're already extremely popular and anyone who would’ve wanted their services uses them already.

They are popular but that doesn't mean that they are accessible because they are sometimes only available on certain countries. Also, it wouldn't hurt that they add crypto payment as an option because that's another money maker for them because some crypto including bitcoin grows in value overtime.

[Shenzou]

The crypto market has become a multi billion dollar industry, and the major cooperation like tesla and amazon are seeing this and i bet that there are a lot of others like them are considering it as well because there is a lot of profit to be made of it, whether it is by just accepting bitcoin or creating their own secure crypto payment service, either way this will lead to some huge advancement to the crypto industry and the push that we waited  for a long time.

[sapnu]

The news of Amazon's involvement in cryptocurrency is now spreading more and more, and e-commerce giant Amazon may take action to integrate Bitcoin and other major cryptocurrencies as payment methods. If the company's strategy is realized, it may become the first major e-commerce platform in the United States to integrate cryptocurrency on its platform.

https://bitcoinist.com/amazon-targeting-bitcoin-payments-seeks-crypto-product-lead/

According to insiders, this is only the first phase of Amazon. Once they "establish a fast and secure" encrypted payment method, the second phase will start. The final stage will involve the creation and launch of Amazon's native tokens. And these Amazon officials did not respond to relevant news, everything is just speculation.
https://bitcoinist.com/amazon-to-integrate-bitcoin-payments-and-launch-its-own-token-by-2022-insider-confirms/

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

There are also rumors, unfortunately, that Amazon itself stated that they are not going to involve the use of crypto with their transactions. If only it is a real thing or the probability of it happening is much higher than not, it would be a big help and make a huge impact to bitcoin and other cryptocurrency's price as well as their future. To be accepeted or regulated by a huge company like Amazon would build bitcoin's reputation to other big companies all over the world and it may also end up making crypto much more dominant than fiat in the near future.

[perryxi2]

Most of the good business models of this form of investment are profitable, they always have a new vision of the market and the needs of users. Part of BTC is now very popular and accepted by many places. If amazon doesn't accept BTC as payment, they really missed a new step in the change of technology today.