Amazon CEO says they will not introduce cryptocurrency payments anytime soon

Amazon CEO says they will not introduce cryptocurrency payments anytime soon

Andy Jassy, the CEO of the giant that is Amazon, cuts off all speculations about the company’s integration with cryptocurrency payment systems. He does, however, believe in another use for them.

Disappointing verdict

Andy Jassy answered questions from journalists at the CNBC station. One of the aspects discussed was the future of Amazon, in the context of the adoption of blockchain technology, and thus, the potential implementation of a payment system, based on cryptocurrencies. His statement on this aspect was quite clear:

“We are probably not even close to adding cryptocurrencies as a payment mechanism in our retail operations, but I believe that over time cryptocurrencies will become more popular.”

This news may have saddened many market observers, who have long seen moves made by the company’s management that offered quiet hope that perhaps bitcoin would become a payment method for purchases on the platform.

Instead, other words became a consolation. Jassy continued by pointing out that it is likely that Amazon will sell NFT in the future. In his words:

“We are inspired by the innovation that is happening in the cryptocurrency space and are exploring what that could look like on Amazon.”

Jassy says the future will be built on new technologies that will create modern spaces for fast and affordable payments. Solutions in this area dedicated to Amazon are expected to be presented soon.

Confusing signals

The attitude of the crypto community to the adoption of Bitcoin and cryptocurrencies by Amazon, found solid grounds. Not so long ago, you could find job ads posted online by the company that required experience in the blockchain sector, or even in decentralized finance itself.  This could be seen, for example, in an ad posted by Amazon Web Services. 

Amazon’s cloud storage subsidiary once advertised a vacancy for a product manager. One of the top requirements was experience working with DeFi.

Interestingly, CEO Andy Jassy himself, having previously served as DEO of Amazon Web Services, was responsible for launching the Amazon Managed Blockchain service.

This information is not only a disappointment, but also a signal that the company, despite its dynamic growth, is slowing down and seems to be lagging behind the rushing technology. Such a move is not allowed by other market giants, among which, for example, Tesla allows payment in Dogecoin (DOGE) for selected accessories for its cars. In the longer term, it also plans to bring back the ability to pay in Bitcoin (BTC).

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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