27 Juli 2021, 10:57 | Editorial Team
JAKARTA – Following reports that Amazon will accept payments with Bitcoin (BTC), it turns out that Amazon is also planning to accept payments in other popular cryptocurrencies such as Ethereum (ETH) and Cardano (ADA).
However, it is not yet known whether the most popular cryptocurrency, Dogecoin (DOGE) will also be accepted by Amazon or not. But Amazon itself has not provided an official statement regarding the plan.
According to Bitcoin.com News, Amazon will reportedly accept Bitcoin payments "by the end of the year". The information is based on reports from “insiders”. In addition, the company is also reportedly developing its own token which will be released in 2022.
The Jeff Bezos-owned company is not only “preparing cryptocurrency payment solutions at some point for the future.” In fact the crypto project is “an integral part of the well-discussed future mechanism of how Amazon will work.”
Reportedly, this cryptocurrency payment plan was initiated by Jeff Bezos. This was disclosed by the Amazon itself.
“It started with bitcoin – it was key to the first phase of the crypto project, and the direction came from the very top… Jeff Bezos himself,” said an Amazon insider.
When asked if the project was ready for release, he stated that it was very much ready. The process itself is not expected to take long as they have already planned it and “have been working on it since 2019.”
In addition, he also revealed that not only Bitcoin will be used as a means of payment, other popular crypto currencies will also be accepted. He stated Amazon would accept eight cryptocurrencies but he only mentioned Ethereum, Cardano, and Bitcoin Cash (BCH). The rest of the crypto is unknown.
“Ethereum, Cardano, and Bitcoin Cash will be next in line before they bring around the eight most popular cryptocurrencies online.”
After the payment with crypto starts. Amazon will create its own token. However, the company's steps are likely to boost cryptocurrencies that are accepted as a means of payment.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
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As a seasoned cryptocurrency expert with a deep understanding of the industry, I can confidently provide insights into the developments mentioned in the article dated July 27, 2021, regarding Amazon's plans to accept cryptocurrency payments.
Firstly, it's crucial to establish the credibility of the information presented. The report suggests that Amazon, under the leadership of Jeff Bezos, is actively working on integrating cryptocurrency payment solutions. The information is attributed to insiders, implying that individuals with insider knowledge of Amazon's plans have disclosed this information. While the article doesn't specify the identities of these insiders, the fact that the information is based on insider reports adds a layer of credibility.
The key points from the article are as follows:
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Amazon's Cryptocurrency Payment Plans: Amazon is reportedly set to accept payments in various cryptocurrencies, with Bitcoin being the first one mentioned. The article indicates that Amazon is planning to accept not only Bitcoin but also other popular cryptocurrencies such as Ethereum (ETH) and Cardano (ADA). The information about Dogecoin (DOGE) is unclear at this point, and there's no official statement from Amazon regarding these plans.
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Timeline for Implementation: According to the article, Amazon aims to start accepting Bitcoin payments "by the end of the year" based on information from insiders. Additionally, there are mentions of Amazon developing its own token, which is expected to be released in 2022.
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Leadership Involvement: The report attributes the initiation of this cryptocurrency payment project to Jeff Bezos himself. The article quotes an Amazon insider stating that Jeff Bezos played a key role in the project, with Bitcoin being the starting point.
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Cryptocurrency Selection: While the article mentions Bitcoin, Ethereum, and Cardano explicitly, it suggests that Amazon plans to accept a total of eight cryptocurrencies. However, the specific names of the other five cryptocurrencies are not disclosed.
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Token Development: Apart from accepting existing cryptocurrencies, Amazon is reportedly working on developing its own token. This token is described as an integral part of Amazon's future mechanisms.
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Preparation and Timeline: The insider reveals that the project is ready for release and has been in the works since 2019. The implementation process is expected to be swift, considering the prior planning.
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Global Language Support: The article mentions that English, Chinese, Japanese, Arabic, and French versions are automatically generated, indicating the global scope and impact of Amazon's cryptocurrency integration.
In summary, Amazon's entry into the cryptocurrency space, if realized, could mark a significant milestone for mainstream adoption. The information provided in the article, while based on insider reports, should be validated with official statements from Amazon to confirm the accuracy of the details.
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