NO crypto transactions in Amazon: Amazon CEO

Reuters, 14 April – In an interview with CNBC on Thursday, Amazon.com Inc (AMZN.O) Chief Executive Officer Andy Jassy said the e-commerce giant is not close to adding bitcoin as a payment option to its retail operation.

Digital currency acceptance by eBay

In 2021, NFTs, a type of blockchain-based digital currency, have increased in popularity, with artwork sold for millions of dollars.

A growing number of businesses are accepting virtual currencies as payment, bringing an asset class that was formerly ignored by big banks closer to the mainstream.

Last year, eBay Inc was the first e-commerce company to accept the NFTs selling digital items such as pictures, trading cards, and video clips on its site.

Its platforms are available via an online experience, mobile devices running iOS and Android, and application programming interfaces (APIs). The business is divided into segments, such as Marketplace.

Marketplace refers to eBay’s online marketplace, which may be found at www.ebay.com, as well as its regional counterparts and mobile applications.

eBay had previously stated that it would consider accepting cryptocurrency as a form of payment in the future.

eBay Inc., which includes its marketplace platform, is a global commerce corporation. The Company’s technologies and services are designed to provide buyers with a variety of relevant inventory while also allowing sellers to sell their products virtually anytime and anywhere.

User interfaces, buyer, seller, and developer tools, as well as transaction processing, database, and network applications, are all developed by the company to assist users in completing transactions on its sites.

Amazon stands on crypto

Amazon is one of the world’s largest trading platforms. Jeffrey Preston Bezos, most popularly known as Jeff Bezos, launched the service in 1994.

One of the most pressing topics these days is whether or not Amazon would accept bitcoin, as the future of cryptocurrency is dependent on the ability to pay with it. For a variety of reasons, Amazon may find it difficult to take cryptocurrencies.

He also hinted that non-fungible tokens (NFTs) might be sold on its e-commerce platform in the future and that NFTs will continue to develop “substantially.”

Bitcoin transactions, for example, are somewhat slow, with around 7 transactions per second, whereas Amazon’s greatest number of transactions per second was 600.

Despite this, the corporation has yet to make an official announcement about whether or not it would take virtual currency.

ALSO READ: Decentralized Twitter proposed by FTX CEO

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing