Retail giant Amazon has posted a job advertisement that seeks to develop the company’s “digital currency and blockchain strategy,” sparking rampant speculation into Amazon’s Bitcoin plans for the future.
The listing saw gains on Bitcoin’s value running from $29,000 (£21,000) to more than $39,000 (£28,216) per coin on Monday July 27th, its largest growth in several weeks. Ethereum and Dogecoin also saw gains.
As well as sparking a surge in the cryptocurrency’s value, the listing has sparked rumours that Amazon is not only going to start accepting Bitcoin soon, but is seeking to launch its own token in the future.
The listing calls for someone who can “leverage domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency”.
The job listing adds that it wants to “develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”
There’s been less volatility in Bitcoin since mid-May and the enthusiasm for crypto has dissipated somewhat amid a regulatory crackdown, as well as concerns about the currency’s impact on the environment.
This is an issue that sparked Edinburgh-based startup Zumo to become a key signatory of the Crypto Climate Accord (CCA), which has been established to support the industry’s transition to 100% renewable energy and achieve net-zero emissions by 2040.
A representative from Amazon said: “We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon.
“We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible,” they added.
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Hargreaves Lansdown senior investment and markets analyst Susannah Streeter said enthusiasts were “salivating for every nugget of news about the future” of cryptocurrency.
“Amazon has scores of openings for blockchain specialists,” she said.
“Given the might of Amazon Web Services, it isn’t surprising that the tech giant wants to be at the cutting edge of new payments technology – and establishing a new digital currency is likely to be on the agenda.”
But Streeter added: “The sensitivity of crypto-coins and tokens remains stark and given the uncertain landscape ahead, with central banks looking to develop their own digital coins, investors should be wary of speculating with money they can’t afford to lose.”