Amazon, one of the largest companies in the world, is looking for an expert executive with great experience in blockchain and cryptocurrencies. Given the technological potential of the American company, you may be considering the idea of creating your own virtual currency.
The Seattle-based company posted a job posting on its website to hire an experienced product leader to develop the cryptocurrency and blockchain strategy. With the search for an expert in both topics, it only means one thing, Amazon intends to expand its product and is betting on cryptocurrencies and blockchain technology.
Within the post you can read, “We seek to leverage your experience in the domain of blockchain, Distributed Ledger (DLT), and cryptocurrency development.” In doing so, Amazon intends to drive the overall vision and product strategy, as well as gain buy-in and leadership investment for its new digital project.
A spokesperson for the company said they are inspired by the innovation that is happening in the cryptocurrency industry and want to explore how it works within the organization. “We believe that the future will be built on new technologies where modern, fast and inexpensive payments will be allowed, we hope to bring that future to Amazon customers as soon as possible.”
In 2017, Amazon did a first blockchain exploration for its cloud product called Amazon Web Services (AWS). However, the company did not see a practical case to innovate with the data structure programmed in blocks and ended up abandoning the idea.
It is not the first time that large technology companies decide to bet on the development of cryptocurrencies and blockchain. Facebook was one of the first firms to venture into the issue by backing the virtual currency called Diem. Apple has also followed suit by establishing partnerships with alternative payment partners, citing crypto as a potentially strong area.
Also, Microsoft accepted payments through bitcoin and other virtual currencies for several years with the intention of growing its market worldwide. Tesla has not tried to foray into cryptocurrency development, but in recent months it has accepted payments through bitcoin to buy a company vehicle.
Now, Amazon is in an important position within the global technology industry and entering the world of cryptocurrencies could be a relevant step for the company. At the moment the retail firm does not accept cryptocurrencies as a payment method for its products, but it has the firm intention of innovating in both technologies to compete with other technological rivals.