JAKARTA - Jeff Bezos' retail company, Amazon, is currently "exploring" how to accept payments in cryptocurrencies after companies such as Apple and Tesla advised them to follow in his footsteps. If the fourth largest company in the world opens its worldwide market for cryptocurrency transactions, then the value of Bitcoin and Ethereum will certainly increase again.
"Tesla's early announcement of accepting Bitcoin for its products helped contribute to bringing Bitcoin to an all-time high in the second quarter of this year", Greg Waisman, co-founder, and COO at global payments network Mercuryo, told Express.co.uk.
“If this impact is replicated when Amazon fully embraces crypto payments, we could begin to see a rejuvenation of the current sell-off, and growth towards new price levels not seen in months”, said Waisman.
Currently, Amazon does not accept cryptocurrency as payment. But recently the company is showing signs that this could soon change.
The payments acceptance and experience team at Amazon is currently looking for an experienced product leader to develop their Digital Currency and Blockchain strategy and product roadmap.
“We are inspired by the innovation taking place in the cryptocurrency space and are exploring what this looks like at Amazon”, said a source at Amazon
In addition to Bitcoin, Vechain is a candidate for a cryptocurrency that can make transactions on Amazon. This July, the Vechain Foundation announced a partnership with Shopping.io, an online platform that has integrated crypto payments into e-commerce.
Since early July, consumers have been able to use Vechain tokens to buy on Amazon, eBay, Walmart, and Etsy via Shopping.io.
"VeChain is a huge achievement for shopping.io because of their passionate community and longevity in the space," said the CEO of Shopping.io of his partnership with VeChain. "We are excited to see what else the future can bring through the partnership. this."
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Talking about the possible integration of cryptocurrency payments on Amazon, Waisman added that Amazon is trying to enter into a very ambitious digital currency ecosystem and will serve as a game-changer to the wider currency ecosystem.
“The company recently ran an ad to hire crypto experts to help navigate its entry into the crypto payment arena,” said Waisman. “This is what Tesla has done this year, and what the big companies on Wall Street are looking to combine”.
“However, Amazon as one of the most valuable companies in the world will help raise the bar as the company has millions of customers who will help spread its crypto payment integration efforts”, added Waisman.
Apple also hinted that they are discussing the idea of accepting payments in cryptocurrencies. The company led by Tim Cook is now seeking key negotiators to forge partnerships with “alternative payments” partners. The company has listed cryptocurrencies as an "alternative payment" mechanism they are considering.
At the recent 'B-Word Conference', Tesla CEO Elon Musk announced that his company will accept payments back in Bitcoin if mining operators "after due diligence" are found to be using more than 50 percent renewable energy.
Big social media companies like Facebook and Twitter are also considering cryptocurrencies as a payment method for using their products. Jack Dorsey, CEO of Twitter announced that his company plans to strengthen the new Twitter business model using Bitcoin.
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