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Amazon Could Be Working Out Final Kinks Before Bitcoin Payments

Amazon Could Be Working Out Final Kinks Before Bitcoin Payments

Amazon just may be on the verge of accepting cryptocurrency. A new rumor is spreading like wildfire on the cryptocurrency subreddit, which cites an anonymous software engineer who works for the world’s largest e-commerce retailer. He states that Amazon has talked about accepting Bitcoin payments “multiple times” and the only reason why they haven’t done so yet is because of issuing returns, refunds, and other chargebacks due to the volatility of the token.

Amazon has purchased a few cryptocurrency-related domain names in the past year:

  • amazonethereum.com
  • amazoncryptocurrency.com
  • amazoncryptocurrencies.com
  • amazonbitcoin.com

This gauges some interest in the space from the tech giant. They also dived into the business of offering blockchain solutions with their AWS Blockchain Templates, which can let you “launch an Ethereum or Hyperledger Fabric network in just minutes.” Amazon has also been rumored to create its own coin, but this was actually a confirmed fact back in 2013. It was called the Amazon Coin but never took off. It was reported to not be based on any blockchain tech. The coins let customers purchase games and apps on eligible devices.

Amazon hasn’t revealed anything regarding accepting cryptocurrency nor blockchain technology in recent times, but they’ve made some moves towards and shown some interest recently. There’s an Amazon subsidiary called “Amazon Technologies, Inc.” which recently filed and issued a patent for a streaming data marketplace. This marketplace platform allows users to view and inspect crypto transaction data in real time. It’s sort of like a crytpo stock trading portal with real-time updates.

The patent also utilizes Bitcoin as a potential coin. The patent also states:

“Agroup of electronic or internet retailers who accept Bitcoin transactions may have a shipping address that may correlate with the Bitcoin address. The electronic retailers may combine the shipping address with the Bitcoin transaction data to create correlated data and republish the combined data as a combined data stream.”

Whether or not they’ll do something more forward in the space is uncertain, but what’s confirmed is their interest in flirting with the tech and coins. Just being recognized by Amazon is already a huge step in the advancement of cryptocurrencies. HODLers should be pleased.

Analytical. Paranoid. OCD. Interested in the world of crypto and how it affects our current world and future. New to investing, not so new to know how crypto works and influence the world of fiat currency. Blockchain is my second wife.

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

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