Bitcoin has managed to break into the mainstream on a number of different levels, including through various different retail environments. One key retailer that has always been missing in the Bitcoin argument is Amazon, but the world’s biggest online store could soon enter the fray. Rumor and speculation have been circulating that Amazon could soon be making a foray in the crypto sphere.
In the past, these rumors having been nothing more than just that, but now there might be something to it. After buying up several digital currency-focused domain names the talk is louder than ever. Let’s be honest, if any retailer accepting Bitcoin could change the face of the crypto sphere it’s going to be Amazon.
Rumor and Speculation
So, are Amazon really gearing up to accept Bitcoin payments in the future? According to an Amazon software engineer – that unsurprisingly remains anonymous at this point – Amazon has discussed the idea multiple times, with the stumbling block being linked to returns and refunds. Bitcoin’s price volatility could make that difficult to execute, but by no means does that mean that the world’s leading cryptocurrency is off the table. Right now, if you want to spend BTC at Amazon, Bitrefil is pretty much your only option, but that could soon change.
The Signs are There
Making things clear, there has been no official word from Amazon yet, with the company remaining extremely quiet on its cryptocurrency stance. But, the signs are there that Jeff Bezos and co are exploring digital tokens and what they can bring to Amazon as a business. The biggest indicator of Amazon’s intentions actually come about through its subsidiary – Amazon Technologies Inc. The company recently received a patent for a streaming data marketplace that specifically cites Bitcoin for potential use.
Unveiling Blockchain Solutions
Furthering what was mentioned above, Amazon has acquired three digital currency-related domains – amazoncryptocurrencies.com, amazonethereum.com, and amazoncryptocurrency.com. This is on top of Amazon already registering the domain amazonbitcoin.com. Amazon Web Services also offers blockchain solutions. AWS Blockchain Templates says that the templates its creating will let users launch an Ethereum or hyperledger network in “just a few clicks.”
Bitcoin is on Amazon’s Wishlist
Amazon might not have formally jumped into the cryptocurrency market, but it’s clear that there is progress being made behind the scenes. Could Amazon be about to launch its very own coin? We think that’s doubtful, but the world’s biggest retailer could have its eyes on accepting Bitcoin in the future if the rumor and speculation is to be believed!