Amazon may Be Working On The Next Bitcoin — here's How

Amazon may Be Working On The Next Bitcoin — here's How

Forget Bitcoin. The next big digital currency to grab your attention could come from Amazon. [Coindesk reported that Amazon is looking for people to help launch a "digital currency" project in Mexico. It appears that the company may use digital money to pay for services as well as products in its online store.

Two job postings were flagged but now appear to have been removed. They were discussing a Mexico-based project to create a digital currency under Amazon's Digital & Emerging Payments division.

"The product will allow customers to convert cash into digital currency," Amazon's initial job posting said."

"This product allows customers to enjoy online services including shopping for goods and services like Prime Video.

This suggests that Amazon may be working on a digital currency that could be launched in Mexico, possibly using Mexico as a test bed before rolling it out further. Amazon already has a virtual currency called "Amazon Coins," and this digital money can be used to purchase Amazon products and web game items.

It is unclear how the new Amazon-made digital currency will be separated from Amazon Coin. It is also not known if it will be a blockchain-based cryptocurrency like Bitcoin or Ethereum.

Buying products on Amazon and signing up for Amazon's myriad services is easy. So it is unclear why Amazon would bother to create its own digital currency.

Perhaps such a currency would be used to allow people to purchase goods from abroad without having to worry about currency conversion or fees. Or it could become an easy way for others to send money overseas to purchase certain products from Amazon's online store. [Amazon has not revealed its commitment to digital currency, but job postings like this indicate that the company is working on something. However, some of these projects may wither. With as much money as Amazon has, it could afford to take such risks.

With Apple possibly entering automobiles, Amazon exploring digital money, and Elon Musk's Starlink Internet starting to accept reservations, 2021 is likely to be the year that major tech companies and celebrities step into other industries.

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