Amazon (AMZN) has not accepted Bitcoin or other cryptocurrencies as payments yet; however, they have expressed interest in cryptocurrencies by posting an employment advertisement for a “Digital Currency and Blockchain Product Lead.”
Some blockchain developers remain wary of this partnership, seeing it as yet another example of an upstart tech firm being taken over by a larger organization.
Eco-aligned crypto asset
Amazon does not currently have a crypto token or any upcoming project – any claims to the contrary were created from old job ads. Instead, scammers have been peddling fake Amazon coins on social media through ads run by bots with the sole goal of drawing as many real users in as possible for fake engagements such as shares, likes and comments.
Amazon is making headlines with their choice of blockchain, opting for Avalanche over Ethereum as it provides developers with a multi-chain platform allowing them to build custom blockchain networks (subnets) which are both scalable and secure.
Amazonascoin, an eco-aligned crypto asset, serves to connect angel investors, green project developers, and companies specializing in technology, education, culture and sustainability in environmentally disadvantaged or remote areas. The Amazonascoin provides sustainable socioeconomic growth while offering benefits like transparent mining processes and educational support via EDiS; intermediary costs are reduced through features like cold wallets that protect against hacking attacks.
Enhanced profitability for traders
Amazon could benefit from creating its own digital currency by streamlining transaction times and costs; this would increase profit margins and the company’s stock price while offering customers another way to purchase its products.
If a large company were to create its own cryptocurrency, it would be a seismic shift in the industry. Leveraging their brand power and size would give their coin instantaneous momentum upon launch and could cause other firms to follow suit, potentially oversaturating the market and decreasing value.
Avast antivirus has warned of a new crypto scam affecting Amazon users. The malware redirects visitors to a fake website promoting an Amazon Token cryptocurrency they don’t exist – offering detailed explanations and attractive images, with countdown timers and bonuses for buying the token – this type of scam preys upon people’s desire to gain early entry to ICOs that often increase in value quickly.
Transparent mining process
Recent attacks against several major companies’ Amazon web services servers by hackers who hijacked them to use for bitcoin mining have become all too familiar; hackers exploiting this tactic instead of just stealing data or blocking systems for personal gain were using hijacked servers to mine for cryptos for personal profit.
AMACOIN, a new blockchain cryptocurrency backed by biological assets and sustainable initiatives, will encourage individuals to make environmentally-friendly choices while encouraging corporates to implement eco-friendly initiatives. The Amazon crypto coin will also help support forest conservation efforts and encourage forest owners to keep their fields intact for humanity’s good. In addition to its charitable goals, AMACOIN will bring enhanced profitability for traders while meeting EBCF sustainability guidelines. Furthermore, its open management process helps organizations avoid customer fallout caused by system failures while offering insight into the efficiency of their business processes.
Educational support
Amazon is widely known for their educational support programs for both students and teachers. Through partnerships with universities and schools, it provides them with resources they need to thrive in the classroom; additionally it offers scholarships and competitions designed to encourage them to explore STEM fields.
Although Bitcoin has grown increasingly popular, Amazon still doesn’t accept it as payment. While they have yet to explain their decision publicly, many speculate as to why; speculates include prioritizing existing payment agreements over cryptocurrency regulation issues in future.
Last year, Avast antivirus warned about an Amazon crypto scam which targeted people searching for information on initial coin offerings (ICOs). Malicious advertisements frequently appear when performing Google searches with keywords like ‘Amazon token presale’ and ‘Amazon crypto coins’ as well as social media platforms like Twitter; their ads often come accompanied by false engagement such as shares, likes and comments – an indicator of scam.
