Amazon Is Getting Serious About Accepting Bitcoin as a Money Transfer for Merchandise

For its Payment Accepting & Experience Team, responsible for handling billions of annual online consumer purchases via the platform and apps of one of the biggest global e-commerce businesses, Amazon has launched a seek for a Digital Currency and Blockchain Project Leader. But before we get into the statement, register yourself on the homepage, and learn all about the best ways to earn in the cryptocurrencies like Bitcoin.

The following statement was sent by an Amazon spokesman in response to the job ad on June 22: “We think that the future will be built on new technologies that allow contemporary, quick, and cheap payments, and we hope that future will be brought to Amazon customers as soon as feasible.” At this time, it is unknown whether or not Amazon’s implementation of Bitcoin payment options will use the Lightning Network or how Amazon will incorporate Bitcoin into its user experience after it has been implemented.

The decision is a watershed moment for the global e-commerce behemoth, whose internet goods and services are omnipresent. At a press conference in November 2017, Amazon Pay Vice President Patrick Gauthier said that the business had no intentions to take Bitcoin due to a lack of demand and that the corporation had merely acquired Bitcoin-related domain names to preserve its brand name. Bitcoin achieved a market capitalization of $336 billion in 2017 when demand was at its highest. If Amazon starts to accept Bitcoin payments, it will likely expose millions of people to the immutable distributed ledger technology, accelerating acceptance and moving the world closer to a bitcoin standard.

Tesla May Also Accept Bitcoin in The Future

Elon Musk, the CEO of electric-car manufacturer Tesla Inc (TSLA.O), said at a conference on Wednesday that the company would most likely resume taking bitcoin as payment after it completes due diligence on the amount of renewable energy utilized to produce the cryptocurrency. During the same period, bitcoin rose by 8 percent to $32,160.16, while ether rose by 11.6 percent to $1,993.36. In extended trading, Tesla’s stock was down 0.8 percent at $655.30, according to Reuters.

Less than two months after Tesla announced that it would cease taking bitcoin for vehicle sales, Musk made his remarks at the B-Word conference. Tesla had begun accepting bitcoin for automobile purchases less than two months before. According to Musk, “I wanted to do a little more diligence to affirm that the number of energy usage will be most likely or above 50%, however, there is a pattern toward the raising that quantity, so if there is a pattern toward these expanding that quantity, Tesla will indeed return bitcoin.” Some Tesla investors and environmentalists have been more skeptical of the way bitcoin is “mined,” which involves the use of massive quantities of energy produced by fossil fuels to do the task.

On the other hand, more digital currency miners are attempting to utilize renewable energy sources to reduce their effect on the environment. We can’t be the business that accomplishes that while simultaneously failing to do enough due diligence on the energy consumption of bitcoin, “Musk expressed himself.

Tesla and SpaceX both hold bitcoin, but Musk said he personally owns cryptocurrencies such as bitcoin, Ethereum, and dogecoin in addition to the bitcoin held by Tesla and SpaceX. “I may pump, but I do not dump,” Musk said emphatically. “I do not believe in raising the price and then selling at a loss, I’d want to see bitcoin become a successful venture.”

Walmart’s new position as one of the world’s largest retailers may positively develop the Bitcoin community as the company becomes more established. The new position will be filled by a senior director located at Walmart’s corporate headquarters in Bentonville, Arkansas. According to the job description on LinkedIn, the position is responsible for identifying cryptocurrency relationships and investments, as well as “identifying customer demands and translating them into product requirements.” The role of Bitcoin and the Lightning Network in Walmart’s deployment of cryptocurrency payment solutions is still unknown, as is whether Walmart will utilize the Lightning Network in conjunction with the Bitcoin network. However, the job posting is a sea change for the typically conservative global commerce behemoth, whose goods and services are omnipresent in the United States.

The position, which is outlined on LinkedIn, does not mention Bitcoin or any other bitcoin, but the tremendous seller but also e-commerce company, which has several users worldwide, would find it extremely difficult if not infeasible to invest in anything except Bitcoin as a typically long store of value but rather as a means of exchange for its consumers.

Ashif Zama Author

Leave a Reply