Amazon is Up To Something, and It Involves Cryptocurrency - Could Facebook's Libra Have a Rival in The Works?

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Sources inside an Amazon research department, not related to the online retail business they're best known for, but within the AWS (Amazon Web Services) branch of the company says - they've spent the last couple weeks focused on gathering data related the cryptocurrencies.

Speaking to the Crypto Press Association, the source shares:

"I want to be clear, i'm not making or implying any product or feature is coming because that would be jumping to conclusions I don't have.  Equally, I can't rule that out either." they continued "With that said, this is the type of data the leadership here requests before deciding *if* we'll be launching something new."

Asking for what types of data we're talking about here "I think 'a general overview' would be the right term to use.  Basically, the current most used cryptocurrencies, reasons people choose one over another, any additional advantages and disadvantages, and the technical specs - transactions per second, security, anonymity, total tokens circulating now, total still to be mined, etc."

This source is someone I worked with on a project here in Silicon Valley years ago, before they were with Amazon, and before I owned any cryptocurrency - so I felt comfortable enough to pester them to speculate what this is all about.

It took awhile, but they gave in.   As long as I promised to put this disclaimer in bold - this is nothing more than a guess, they said:

"When the Facebook Libra thing was what everyone was talking about, there was a sentiment around here that Amazon would be infinitely more qualified to take the lead on a project like that, compared to Facebook. We don't have their track record for privacy violations, and in my opinion that alone means a lot of people will never touch it. But mainly, if the purpose is to improve how transactions are done, well, literally no one does more transactions than us.  We alone could accomplish what Facebook needs dozens retail partners for."

I think this sentence was a great summary of the point "Think about it - if Amazon is on board you're talking about almost every product out there now available to be purchased with the cryptocurrency."

In closing, I was given a reminder "Remember, like any office building full of millennial tech professionals there's no shortage of people who own cryptocurrency inside of Amazon.   Remember, we registered years ago and it still forwards people to the regular homepage.  Don't think we're just discovering the crypto world now." 

Could it happen?!

Facebook recently warned investors that 'Libra may never see the light of day' - could Amazon rise up as a better qualified choice to execute something similar?

Or if Libra happens, will Amazon be competing?

Tell us what you think, Tweet us @GlobalCryptoDev

Author: Ross Davis
E-Mail: Twitter:@RossFM

San Francisco News Desk

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