The online retailing company is striving for a place in the Crypto world. With the globe looking poised to dive headfirst into the realm of cryptocurrencies, Amazon is preparing to enter the fray by launching its own crypto token in 2022. The specifics are unknown at this time, but it looks like Amazon is establishing a blockchain in preparation for the introduction of its own digital currency. According to a FinTech Magazine storey, the company has placed a job ad for a new ‘Head of Digital Currency and Blockchain.’
What is Amazon looking for?
According to the job posting, Amazon is searching for an ‘experienced product leader to establish Amazon’s Digital Currency and Blockchain strategy and product roadmap. This initiative is said to be a direct response to rising rivalry from other internet titans such as Meta/Facebook, which have assembled their own team of specialists to develop a blockchain idea. Google has also just partnered with Bakkt, paving the road for cryptocurrency inclusion in its Google Pay app.
When is Amazon launching their crypto token?
Amazon’s own cryptocurrency is expected to be launched in 2022, although no specific date has been announced. Customers are anticipated to be able to use the Amazon Crypto Token when purchasing on the Amazon website, however, how long this will take to deploy is unknown. Blockchain and cryptocurrencies are still in their infancy, and there is a lot of space for advancement, particularly in terms of customer comfort.
Amazon had previously considered such a project, providing positions to blockchain professionals, although the initiatives were far more low-key than the one that now surrounds the Amazon Crypto Token. Amazon refers to their blockchain as ‘Amazon Managed Blockchain,’ and their website already has a wealth of information regarding the idea.