Content adapted from this Zerohedge.com article : Source
Over the past week, rumors have swirled that Amazon may be preparing to accept bitcoin as a form of payment, a decision which would lend immediate credibility and legitimacy to the cryptocurrency. Last week, Die Welt reported that fintech sources in Silicon Valley were suggesting that the global online retail giant could soon integrate Bitcoin as a payment option.
When questioned, an Amazon spokesman replied to the German publication in a predictably generic fashion: "(Amazon) opts to include new products or services only when these are useful for our customers - until that point, we do not engage in rough speculation", CoinTelegraph reported.
Photo credit: Cointelegraph
Amazon has faced years of lobbying and rumors regarding its Bitcoin relationship ever since smaller competitor Overstock (which recently announced plans to raise capital via an ICO) became a pioneering virtual currency adherent in 2013. While multiple other midsize operators have since engaged with Bitcoin, Amazon's participation would still be a first-of-its-kind move. Meanwhile, several dedicated services already exist to offer purchases with Bitcoin from their websites through the intermediary of gift cards.
And while Amazon has refused to commit on the record, rumors that the world's biggest online retailer may be adopting cryptocurrencies such as bitcoin and ethereum, got a renewed push today when CoinDesk reported that according to industry news site DomainNameWire, Amazon has registered three cryptocurrency-related web domains, online records show.
According to information from Whois Lookup, three domains – "amazonethereum.com," "amazoncryptocurrency.com" and "amazoncryptocurrencies.com" – were registered on Oct. 31. The domains are linked to Amazon Technologies, Inc., a subsidiary of Amazon.com, Inc. that has been attributed to past patent filings from the e-commerce company.
Phone numbers listed on the registration documents connect to Amazon's legal department, though a representative of that office could not be reached by press time.
While coindesk admits that as of this moment, "it's not entirely clear what purpose the domain names will serve" the mere fact that Amazon has telegraphed its intentions vis-a-vis the crypto space may be sufficient to boost demand for the digital currency even more, as the eventual acceptance by Amazon would be widely seen as a universal stamp of approval. What is interesting is that Amazon may be branching out beyond merely the generic "bitcoin" and into its biggest competitor, which arguable has broader corporate acceptance, ethereum.
Then again, Amazon may be simply moving to safeguard its brand. Back in 2013, Amazon secured "amazonbitcoin.com," which currently redirects to Amazon's main page – an arrangement that further suggests the protective intent of the registration.
Alternatively, Amazon could be seeking to avoid confusion between cryptocurrencies and Amazon Coin, a virtual currency product introduced in 2013 that serves as an online payment method for customers.
Thanks for all this news about AMAZON... I still remember seeing Bitcoin as a mode of payment on their platform, that was something of a shocker. I look forward to seeing them more cryptos.
Namaste :)
It is nice having the option to use Bitcoin for purchases through Amazon but I assume that many people will want to just hold on to their coin.
Especially now! ;) Namaste :)
This is good news. Amazon accepting cryptocurrencies would definitely be a big break and lead to the skyrocketing of bitcoin and others like Ethereum and Litecoin.
Sure hoping this happens soon.
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I would like to see Amazon accepting bitcoin or etherium as payment method.
This is excellent news!!
I THINK THEY WILL PLANNING FOR FOR THAT,BUT NOW... "amazonbitcoin.com," which currently redirects to Amazon's main page
Did you know that Microsoft already accepts bitcoins? They started to accept it quietly without big fuss about it. For example if you want to pay in Microsoft Store for something like Office or Windows, you can "redeem" bitcoins as they call it.
I'd love Amazon and as many big retailers as possible to start accepting bitcoin.
Something like this can be expected from E-bay, it's not a question of whether Amazon will accept Bitcoin, Eth, and other currencies, it's just a matter of time when this will happen. As Coin Desk said, Amazon has leased domains that clearly speak of its intentions to introduce a new payment facility. When this happens, then the currencies will get even higher value and this minimum of 100%. because amayon is a leader and has a huge network of users. I can hardly wait for this to happen because it is easier to buy amazon books through btc wallets than through cards and paypall. Exellent news @zer0hedge
Amazon is the leader in the retail world in many ways. This is an important decision for the crypto world. The fact that it is obvious Amazon is entering the arena is some form means that all other retailers will follow suit. The big question is does Amazon release its own token or simply start accepting the others that are out there.
At the end of the day, I believe we will end up with a situation where all tokens can be instantly swapped to pay in the currency a retailer wants. Either way, this is big news for the crypto world.