Amazon and Cryptos: Will they Come Together?

Published July 3, 2018 | Updated July 3, 2018

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Amazon and Cryptos: Will they Come Together?

A lot has been around in media since the news of Amazon bought domains that related it to cryptocurrencies. All kinds of speculations have been rife and a lot of people have been predicting Amazons next move with respect to blockchain and cryptocurrencies.

Everything has been spoken about, from exchanges to blockchains, but there is still silence as far as the company is concerned. No official announcement has come in yet and key management officials have stayed away from associating to this new technology. So whats in store? Is Amazon really contemplating blockchain and cryptos or is it side-lining itself from it

All the uproar: Domain registrations, Crypto exchange, and Blockchain  

CNBC had first reported the domain registration news in November, This prompted immediate speculation across social and online publications, that Amazon was getting ready to accept crypto payments.  The domain registered were amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. With these varied domains registered, it didn’t look like Amazon would make these efforts for just launching crypto payments.

It seemed something larger was coming. Maybe a blockchain may be a crypto exchange. There was also news of the potential acquisition of the current exchanges and maybe rebranding under their domain.

Another point worth considering was that the registered web domains were connected to, Amazon Technologies, Inc. a subsidiary company of Amazon.com, Inc. This is headquartered in Sao Paolo and been filings patents for the parent company. Its operations include logistics, computer, and software systems; conducting techno-economic and environmental viability studies; and procuring engineering works and projects.

As the subsidiary was involved in identifying, researching and developing new technology for its parent, various rumors started finding feet.

Also, read: SEC Charged for Illegal Sales of UBI Blockchain Internet Stock

Is it all the downpour: Amazon not even considering Blockchain

With so much of uproar in media, there was an official announcement expected. If not for official excitement, at least some hints from key management personnel. But nothing has come yet and doesn’t seem like anything is coming soon. The rumors+ are subsiding and there is not news in media on any progress. So is it the end of stories that bought Amazon and Cryptos together. Maybe that what it seems like.

Well if Amazon Web Services (AWS) CEO Andy Jassy is to be believed Amazon does not want to focus on a technology which is surrounded by so much hype. The CEO exposed that the absence of blockchain from his keynote address at AWS re: Invent conference was actually thoughtful, and not a mistake as the company planned to focus on other technologies rather than blockchain.

As Andy Jassy clears the air on all the speculation, the wait seems to be longer for Amazon and Crypto fans just grow a little longer. But its hard to tell whether the company won’t be exploring cryptocurrencies or blockchain at all. Well some patience would give us answers to it

Will Amazon ever consider blockchain or cryptocurrencies on its platform? Do let us know your views on the same.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.
Nilesh Maurya 690 Articles
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.
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