Amazon's future plans

[sana54210]

The company planned to accept bitcoin payments for amazon blockchain and crypto payments. The job posting for the blockchain lead revealed that he would acquire domain expertise in blockchain distributed ledger central bank digital currency and cryptocurrency to drive product strategy and development amazon says it has been inspired by innovation in the cryptocurrency space and is exploring what it could be like on amazon. We believe the future will be built on new technology that enables modern, fast and cheap payments and hopefully bring that future to amazon customers as soon as possible.

Amazon could be starting to accept bitcoin that's true, but we could be seeing something amazon is doing with blockchain as well that could be the reason why they are looking for a blockchain expert. I mean think about it, they are selling millions of stuff all around the world every single day without ever stopping, they have the biggest database requirement in the world, lucky that they have huge database servers that not only covers their needs but also one of the most used ones as well with AWS and that is a great deal for them both financially but also ease of use as well since it is their own.

However, if we end up with a blockchain version of that, it would mean that they could literally use it to get it easier, addresses attributed to products and all that, so blockchain as a database server type of idea could be the reason why they are looking into it as well.

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[jrrsparkles]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

This will be a big step in crypto, I hope Amazon has its own crypto and trading platform so that it makes crypto shine even more, Of course this takes time but it is needed to maintain the market. Maybe the first step is that they accept crypto so that makes crypto shine even more.

Amazon's original heel to take the first step, it became a giant foot that crushed the bridge to crypto, more precisely, instead of opening up about rumors and stimulating people's curiosity about crypto and Amazon, they share frankly about denial and no such plan, it was indeed a shock in a few days for those who have loved the crypto community, a hand outstretched to welcome us to new space but when we gave our hand to them, they ruthlessly separated everything, compensated by just a few recruitments, it doesn't seem very realistic

Its expected because they will surely face regulatory issues if they accept cryptos for payments since they are from US and where cryptos are regulated as an asset and I said about this already on few threads when this rumour came out. But they maybe launching their own token or collaborate with financial company and replace the banks space sooner.

[ljubomir821]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

[Kakmakr]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

1. Accepting Crypto currencies via Payment processors - Simply because the regulatory framework is not in place to accept Bitcoin or any other Crypto token as a "currency" - This is just a clever way to bypass regulations and to say they still deal in Fiat currencies.

2. They will create their own token - If they get regulatory approval to accept Crypto as a currency, then they will create their own token that they can manipulate. (Full KYC Requirements and control over the development and Supply of the tokens)  

[imstillthebest]

yeah all of that are pure speculation for now but i think i understand why officials of amazons are quite it maybe that they want to shock all of us than posting regular updates as that will cut the excitement factor .
there will be no second phase if they will start the first because cryptos are already fast , secure and most all encrypted .
 they can issue their own token but i dont think this leads to creating of their own exchange .

[justdimin]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

1. Accepting Crypto currencies via Payment processors - Simply because the regulatory framework is not in place to accept Bitcoin or any other Crypto token as a "currency" - This is just a clever way to bypass regulations and to say they still deal in Fiat currencies.

2. They will create their own token - If they get regulatory approval to accept Crypto as a currency, then they will create their own token that they can manipulate. (Full KYC Requirements and control over the development and Supply of the tokens)

Both of those options are valid and nice options and I would gladly accept them over the ignoring it completely they are doing right now. I mean think about it, bitcoin is a thing that we all use and like, and it is growing by the day, there are more and more people who like bitcoin and will continue to like bitcoin, how could we say that bitcoin is not going to be awesome in the future? It means that there will be a day when amazon needs to do something about it, and with the blockchain engineer applications they are getting right now, it is obvious that they are working on it.

All of this comes down to the fact that one day they will do something about it, could be accepting bitcoin directly, could be creating their own amazon token, in any case it is definitely a great one and I would love to see it happen, even if it is just an "amazon token" because a 1+ trillion-dollar company starting their own token is still awesome for us.

[Cling18]

It's a wise movement and strategy for Amazon. I've heard this kind of news before but I'm hoping that they could make it happen this time. It will surely have a positive impact on the current situation of the market as well as the price of Bitcoin. Amazon is such a huge company and adoptions like this could increase the price of Bitcoin and other cryptocurrencies.

[jaysabi]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

1. Accepting Crypto currencies via Payment processors - Simply because the regulatory framework is not in place to accept Bitcoin or any other Crypto token as a "currency" - This is just a clever way to bypass regulations and to say they still deal in Fiat currencies.

2. They will create their own token - If they get regulatory approval to accept Crypto as a currency, then they will create their own token that they can manipulate. (Full KYC Requirements and control over the development and Supply of the tokens)  

In regards to number 2, there's no real reason to expect them to set up a KYC framework unless they can profit off of it somehow, and I just don't see a profit model there.  Lacking an economic interest in building their own KYC framework, they will either rely on a third party to handle this through an established exchange or not pursue their own token at all.  

In regards to number 1, what regulatory framework do they really need?  There's nothing stopping them currently from accepting bitcoin as a currency, the same as some other businesses currently do.  If they didn't want to deal in crypto themselves but still wanted to allow for crypto buyers to exchange with them, they could just use a third party to handle transactions and immediately convert crypto to fiat.  There is no regulatory framework required for either of these options, but it simplifies things considerably to use this last option from a bookkeeping and accounting perspective.

[AhmadM]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

Those are very likely the most possible options if amazon indeed has a plan to integrate crypto inside the platform, meanwhile from the last news I read it is just a rumor as you mentioned. They claimed to have an interest in crypto and plan to do their own research on it nevertheless not gonna integrate it in the near times

[jakdanyel]

There have been rumours all over the place about Amazon to start accepting Bitcoin. And finally, it can be starting to become real. After Tesla's insane amount of investment into Bitcoin, it has attracted the attention of many big companies also. And it seems like Amazon is one of them. There are around 300 million people who are Amazon users now according to a statistics. There will be huge demand for Bitcoin surely after this.

[palle11]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

That Amazon has made that announcement is still pending for them to put more action to it because action is higher so that things can start growing. Although , bitcoin price is increasing and high now to fivety thousand, this may help more increase  if Amazon carry out that because it is a large institution.

[Kelvinid]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

That Amazon has made that announcement is still pending for them to put more action to it because action is higher so that things can start growing. Although , bitcoin price is increasing and high now to fivety thousand, this may help more increase  if Amazon carry out that because it is a large institution.

if they truly have the interest to adopt and accept Bitcoin payments or any cryptocurrencies, they never wait that Bitcoin will reach back to another ATH but they are supposed to do it right away. But unfortunately, they just keep on talking like that they will accept soon and soon. This company is huge and I believe that they are not new to crypto but I think there is another reason why they don't pursue to adopt it aside from unstable price that they are just quite to talk about.

[Congyang]

I hope that what amazon is doing goes according to their plans. at least amazon should provide a little overview or concept to the public about the amazon coin and how the amazon coin pattern in the public so that the public can understand and support the amazon coin spectacularly. it's an interesting idea for amazon to do that, and I'm sure if the amazon roadmap can be published, amazon will quickly get the best place in the crypto market

[jaysabi]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

That Amazon has made that announcement is still pending for them to put more action to it because action is higher so that things can start growing. Although , bitcoin price is increasing and high now to fivety thousand, this may help more increase  if Amazon carry out that because it is a large institution.

I hope Amazon will provide bitcoin service for payments soon, I often shop on Amazon and hope to be able to create and store bitcoins on Amazon's service so that when transactions are only internal and the fees are very cheap. I'm sure if Amazon accepts bitcoin it will certainly skyrocket and reach $100k in the current year.

I don't see Amazon accepting bitcoin as a huge needle mover for the price, and definitely not a 2x increase on an already elevated price.  It just doesn't change the thesis for owning bitcoin at all.  It's not going to generate any meaningful business for Amazon, there's nobody who currently would shop at Amazon if only they accepted bitcoin!  And people interested in bitcoin aren't interested in it as a currency, only as a store of value or get rich quick scheme.  So Amazon offers nothing for that except the perception that it's going to be a big deal for other people, which is fleeting.

[LUCKMCFLY]

I hope that what amazon is doing goes according to their plans. at least amazon should provide a little overview or concept to the public about the amazon coin and how the amazon coin pattern in the public so that the public can understand and support the amazon coin spectacularly. it's an interesting idea for amazon to do that, and I'm sure if the amazon roadmap can be published, amazon will quickly get the best place in the crypto market

Amazon has always worked thanks to the business model that they have always implemented, obviously they will want to launch their own currency or token for them to continue winning, obviously they will use BTC to exchange them for tokens, it is something normal and what every large corporation does, I think that Amazon should already be in those plans, and at any time it can launch, I also imagine that it will have multiple purchase promotions, acquisition of special memberships, the business model is very open to all these things, what remains is expect.

[eaLiTy]

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Amazon has always worked thanks to the business model that they have always implemented, obviously they will want to launch their own currency or token for them to continue winning, obviously they will use BTC to exchange them for tokens, it is something normal and what every large corporation does,

Do we really need another coin, they can use BTCitcoin if they really wanted to accept cryptocurrency, there is no point in launching their own currency and if every corporate starts thinking like it will only create havoc to the end user as they need to purchase each of these coins that they are launching and it will not work in the long term as you will see many coins going to dust in a few years.

I think that Amazon should already be in those plans, and at any time it can launch, I also imagine that it will have multiple purchase promotions, acquisition of special memberships, the business model is very open to all these things, what remains is expect.

Amazon can give any number of promotions to promote anything as they have huge funds, but once that stops people will stop using their coins or tokens whatever they might be launching. So basically i do not want to see them launch yet another coin but they just need to accept which are available in the market.

[paxmao]

Amazon´s strategy is pretty much a long term view on almost anything. They do not mind spending money to create the conditions of success in 5 years. They act quite differently from other companies, for example Facebook launches many new ideas and does it for short time spans and for just a test public. They find out what works by testing the public and sometimes they make mistakes. Of Amazon, I can say that they rarely make a mistake and they seem to have a better initial information on their initiatives.

[dimox]

yeah, basic strategy is always same. traffic is what big company want, when it happen than just step to the other plans. it can be good move for them if they have solid power.

I hope Amazon will provide bitcoin service for payments soon, I often shop on Amazon and hope to be able to create and store bitcoins on Amazon's service so that when transactions are only internal and the fees are very cheap. I'm sure if Amazon accepts bitcoin it will certainly skyrocket and reach $100k in the current year.

its better if it happen, they provide bitcoin payment. people who already have it, will directly pay without chnage their coin, make it easy and useful for Amazon fans