American multinational technology company, Amazon is planning to start accepting Bitcoin (BTC) payments by the end of 2021 according to an insider within the company.
The move will set the stage for broader mainstream adoption of cryptocurrency transactions.
Amazon published a job advertisement for a cryptocurrency and blockchain lead over the weekend calling for someone who can “leverage domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency”.
The vacancy, clearly a signal the company is laying down a pathway towards cryptocurrency transactions and according to an insider, the plans run much deeper than simply bringing someone on board to examine possibilities.
The source told City A.M., according to a report published on Sunday.
“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future — this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,”
The source indicated that, while Bitcoin is the first step in Amazon’s crypto ambitions, executives at the company were keen to add other established cryptocurrencies in the future. The “directive is coming from the very top,” referring to Jeff Bezos, they said, adding:
“This entire project is pretty much ready to roll.”
In addition to accepting Bitcoin payments, Amazon is said to be exploring the creation of its own cryptocurrency, possibly as early as 2022, they said.
The anonymous source also explained that directors of the company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence were keen to move towards ticking off other big cryptocurrencies once it had established a fast and secure method of Bitcoin payment.
“Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” she added.