- Amazon’s Digital and Emerging Payments (DEP) section is planning to launch a new digital currency program in Mexico
- For the respective program, it is seeking to employ software developers and engineers
- However, the job posts are not very transparent
Significant news of Tesla’s purchase of $1.5 billion in Bitcoin in January came out this week. The speculations as to which corporate inceptions would invest in the BTC next ramped up.
The crypto industry is closely observing Amazon, an online retailer, these days. Though the platform is committed to fiat, for now, it is observing and evaluating alternatives.
Amazon’s call for developers
Amazon’s Digital and Emerging Payments (DEP) section is planning to launch a new digital currency program in Mexico. For the same, it is seeking to employ software developers and engineers. The declarations on the Amazon Jobs website confirmed the call for hiring.
One of the job postings stated that the platform is looking for a leader to assist them in launching a new payment product. It also mentions that they will begin with Mexico as their debut launch country.
The post further explained that this product will allow users to transform their cash into digital currency. With this currency, the customers can avail access to various online services including shopping for commodities and/or virtual services like Prime Video.
Ambiguous case of job posts
The first-ever job posting, dated October 2020, was recently updated. The job posts themselves are not very transparent as a digital currency can imply any count of digital payment modes. Besides, Amazon already owns a currency of its own called Amazon Coins. Amazon Coins is a digital parallel of Disney Dollars as the former allows access to the in-app items of Appstore.
Thus, it is time for Amazon to make transitions beyond focusing on game tokens. Jeff Bezos, the current CEO, will step down to handover the reins of Amazon to Andy Jassy, the CEO of Amazon Web Services. He created the Amazon Managed Blockchain facility during his tenure.
Andy will be taking over a platform that does not yet allow consumers to access PayPal let alone Bitcoin. Besides, it encourages the customers to use its accredited credit card that ensures interest back to the platform itself. So the platform now needs to assure the users some financial credibility whilst it moves into the space of cryptocurrency.
However, we can conclude that every big company can afford to experiment regardless of the approach they choose. The worst-case scenario will merely result in a new digital currency.
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