Amazon is ready to accept Bitcoin as payment?

7 years ago - Published in Finance, Fintech Land, Technical Analysis

According to online records, e-commerce giant Amazon, often seen as the “white whale of bitcoin payments, recently registered three cryptocurrency-related domain names: “amazoncryptocurrency.com,” “amazoncryptocurrencies.com,” and “amazonethereum.com.” The move was first reported by domain industry news website DomainNameWire (DNW).

DNW reports that three domains were registered last week that are related to blockchain technology and cryptocurrencies: amazoncryptocurrencies.com, amazoncryptocurrency.com and amazonethereum.com. Initially, one may think the retailer is preparing to reveal something related to Ethereum and Ether tokens, or that it’s about to launch its own crytocurrency.

Whois records link the domains to a subsidiary of Amazon.com, Amazon Technologies, which has in the past been linked to patent filings. At press time, all three domains are a dead end, but a domain the e-commerce giant registered in 2013 – amazonbitocoin.com – redirects to its main page, Amazon.com.

Amazon has been contacted by several outlets, but has so far seemingly not replied to any. Earlier this year CCN debunked rumors that claimed Amazon would be accepting bitcoin within the near future – as early as October – by pointing out these came from an ad to a cryptocurrency “masterclass.”

Interestingly enough, today’s news comes a little over a week after Ethereum co-founder Joseph Lubin graded Apple, Google, and Amazon on their respective plans for blockchain technology. On Amazon, Lubin simply said, “we’ve not seen that much, so we’ll see.”

The much more interesting situation, however, is one in which Amazon introduces its own currency or coin. Not only would such a move potentially force the average person to finally learn what cryptocurrencies are, but Amazon’s currency could become incredibly popular or the preferred form of payment, especially if there are incentives for Amazon Prime subscribers. Amazon Prime is currently $99 a year, but what if you could get it for “cheaper” through the use of “Amazon Ether tokens?” The only ones who know what Amazon is up to are the higher ups at Amazon, so we’ll have to wait and see how this situation plays out.