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Amazon May Be On The Verge Of Using Bitcoin – Here Are The Main Hints & The Platform’s Plans


The whole crypto space is excited over the latest rumors claiming that Amazon could shortly accept Bitcoin.

The rumor cited an anonymous software engineer at the tech giant who said that Amazon discussed accepting Bitcoin various times and that the main sticking point is how the company would deal with returns and issuing refunds since Bitcoin’s price is extremely fluctuating.

Amazon remained quiet about its interest in crypto and the blockchain technology but the company made a number of moves in the space during the past few months.

Amazon subsidiary won a patent related to crypto

For instance, the Amazon subsidiary “Amazon Technologies, Inc.” recently won a patent for a streaming data marketplace that would allow users to view crypto transaction data in real-time.

The patent cites Bitcoin as a potential use case, stating “a group of electronic or internet retailers who accept Bitcoin transactions may have a shipping address that may correlate with the Bitcoin address. The electronic retailers may combine the shipping address with the Bitcoin transaction data to create correlated data and republish the combined data as a combined data stream.”

Amazon bought crypto related domains

Amazon also bought three cryptocurrency-related domains late last year: amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com.

It seems that Amazon already owns amazonbitcoin.com, which currently redirects straight to amazon.com.

Besides these domains, the company also entered the business of offering blockchain solutions via Amazon Web Services and AWS Blockchain Templates.

“These templates will let you launch an Ethereum (either public or private) or Hyperledger Fabric (private) network in a matter of minutes and with just a few clicks,” AWS revealed in a blog post.

“The templates create and configure all of the AWS resources needed to get you going in a robust and scalable fashion.”

Amazon has its own coin

And, if you are wondering whether Amazon will create its own coin, well, it already has.

Amazon created the little-known virtual currency Amazon Coin back in 2013. It’s not based on blockchain technology though.

Amazon revealed that the coins are designed to let customers “purchase eligible apps, games, and digital in-app items” on Android phones, Blackberry devices, and Fire Tablets.