Amazon preparing to enter Cryptocurrencies; buys relevant domains

Amazon,the multinational giant with annual revenue of USD 136 billion and total assets worth USD 83 billion is reportedly getting ready to enter the Cryptocurrency sector. Reports say that the company, which is considered the leader in electronics, online shopping, cloud computing, etc. has registered 3 domains or web-addresses related to cryptocurrency. As of now, there is no official announcement from Amazon on this.

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Before launching a website, the domain or web address has to be purchased and registered by paying the necessary charges. This news of Amazon’s legal department purchasing 3 new domains has been published on a website that monitors worldwide web domains. These new domains purchased by Amazon are related to cryptocurrency, says the report on this website. The names of these domains are ‘amazonethereum.com’, ‘amazoncryptocurrency.com’ and ‘amazoncryptocurrencies.com’, reports this website.

Amazon had registered the domain ‘amazonbitcoin.com’ back in 2013 itself. However, this domain is not active yet and it redirects to Amazon’s home page. Even the domains registered 4 days back have not been activated yet.

Nevertheless, the website which has reported this news, states that Amazon will soon start accepting payments through the Ethereum cryptocurrency, as one of the 3 new domains is associated with Ethereum. In the world of cryptocurrency, Ethereum is considered second only to Bitcoin.

It is speculated that Amazon may even have its own cryptocurrency as suggested by the other 2 domains. However, Vice President of Amazon Pay, Patrick Gauthier, while talking to a US news channel last month, said that the company has no plans to accept payments in virtual currency.

‘Transactions of Amazon are carried out in the local or internationally accepted currencies as well as plastic money (credit-debit cards). As of now there is no demand for cryptocurrency’, said Gauthier last month, while putting these speculations to rest. Around the same time, social media was buzzing with posts saying that Amazon has started accepting cyptocurrency as a mode of payment. This in turn increased Amazon’s market value internationally. However, Amazon officials had dismissed this as a rumour.

Amid this, came new reports that Amazon has registered the 3 new domains. Subsequently, the value of Bitcoin, the leading cryptocurrency, rose over USD 7,000. However, even after 4 days there has been no official statement from Amazon on this.

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