Amazon Buys Cryptocurrency Domains

Source: https://futurism.com/what-this-period-of-rapid-growth-means-for-the-future-of-cryptocurrency/

Source: https://futurism.com/what-this-period-of-rapid-growth-means-for-the-future-of-cryptocurrency/

There is much speculation on what Amazon plans to do with it's cryptocurrency domains it recently purchased. Some speculate that it may start accepting cryptocurrency, others simply speculate that it's protecting it's brand name by purchasing the crypto domains before anyone else does.

According to this article, "Amazon Pay's VP Patrick Gauthier told CNBC last month that Amazon had no plans to accept cryptocurrency because there hasn't been much demand yet".

It's hard to speculate on what they are going to use it for, however, contrary to popular speculations, it's more likely to be used for suppliers, not customers. A cryptocurrency that could be used as an international currency may be less susceptible to traditional currency fluctuations which would add some stability to international trade. As Amazon grows and expands into international markets, currency fluctuation is an area Amazon is becoming more and more familiar with.

With large portions of Amazon's production process absent from human interaction, it isn't that hard to imagine IoT machines using the currently to transact with each other. For example a delivery truck arrives to drop off products and is instantly paid with cryptocurrently via and IoT machine.

 

Kris Bruynson