In the world of technology and commerce, Amazon is an undisputed giant, and now it looks as though it’s set to expand its empire yet again with a potential move into the cryptocurrency sphere.
With the behemoth having just secured three domain names relating to cryptocurrency, speculation is, unsurprisingly, rife, though it was only last month that the vice-president of Amazon Pay Patrick Gauthier publicly stated that the company had no plans to begin accepting the currency, due to a lack of demand.
Yet the domain names are hardly subtle: amazonethereum.com, amazoncryptocurrency.com and amazoncryptocurrencies.com. Having registered for them on Tuesday 31 October, it seems that something is undoubtedly brewing behind the scenes.
The news comes hot on the heels of Bitcoin, the largest of the cryptocurrencies, having set a record high price of $6,600, following the reveal of CME’s intention to launch Bitcoin futures later in 2017.
Despite the recent denials, this correlation certainly makes the news worth noting, with speculation focused primarily on the possibilities of Amazon either readying themselves to make a move relative to the Ethereum block chain, or else step into the arena and release their own cryptocurrency.
Not everyone is convinced, however, that such intentions should be read into these actions. Amazon has always been zealous with regards to defensive domain name registrations, many of which are performed remotely by brand protection agencies, as opposed to the business behemoth itself.
This certainly seems like a viable explanation, especially considering Ethereum co-founder Joseph Lubin’s recent comment on the company’s block chain readiness compared to other tech giants: “Amazon, we’ve not seen that much, so we’ll see.”
The true meaning behind the move remains to be seen, but one thing is for certain: with or without Amazon on the bandwagon, cryptocurrencies are most certainly on the rise.