Amazon Bitcoin, Amazon Bitcoin, Amazon Bitcoin.

If we say it three times like Dorothy in her ruby red slippers could we possibly see a world where Bitcoin and Amazon do work together? Well, it’s looking to be more and more likely.

Amazon has always been a favored behemoth to throw around in the cryptocurrency space because of the volume of transactions they process daily. If they or any other major retailer were to embrace Bitcoin (or another cryptocurrency) as a form of payment it would provide a very new and real liquidity source for the chosen coin(s).

 

Is Amazon Embracing Bitcoin?

Amazon has yet to make such a bold move but quietly has been showing signs of its intentions to be involved in the crypto markets in some way, shape or form.

 

Amazon Domain Purchases in 2017:

  1. Amazonethereum.com
  2. Amazoncryptocurrency.com
  3. Amazoncryptocurrencies.com

r3 corda amazon bitcoin

Amazon Partnership with R3 DLT consortium Announced December 6, 2017

This partnership lead to R3’s Corda platform becoming the first ever distributed ledger technology solution to be put on AWS.  The Corda platform allows users to create and deploy distributed applications (DApps) onto the AWS platform.

patent-amazon-bitcoin

Amazon Patent Approved April 17, 2018

Amazon recently received a patent approval for a streaming data marketplace.

The patent filing defines:

A technology for a streaming data marketplace is provided. In one example, a method may include requesting to receive a first stream of data from a first source via the streaming data marketplace. The first stream of data may be received and then correlated and combined with data from a second source as a combined stream. The combined stream may then be published to the streaming data marketplace.

One of its subsidiaries, Amazon Technologies Inc, submitted a filing for a patent back in 2014. It was finally approved this past week.The patent is for a streaming data marketplace that uses one example of how it could be used in partnerships with ISPs and shipping addresses to link blockchain addresses, like Bitcoin, to individual users. Who would be a big customer of this potential data marketplace? The US government.

Bitcoin and other cryptocurrencies are entering the mainstream, but even nine years after Bitcoin’s creation and being connected with many positive advancements in technology that could help BILLIONS of people around the world, it still gets associated with the dark web, illegal transactions, and money laundering.

Even though many may not like big brother having access to their Bitcoin spend this can be viewed as an overall win for the blockchain community. In order for Bitcoin and cryptocurrencies to continue widespread adoption the public, as well as the government, will need to have assurances that the technology is being monitored to protect it from being used with bad actors. Amazon with its continued focus will help with just that.

hyperledger-amazon-bitcoin

Amazon Web Services announces Blockchain Frameworks for Ethereum and Hyperledger Fabric April 19, 2018

AWS Blockchain Templates provide a fast and easy way to create and deploy secure blockchain networks using open source frameworks. The blockchain is a technology that makes it possible to build applications where multiple parties can record transactions without the need for a trusted, central authority to ensure that transactions are verified and secure. Blockchain enables this by establishing a peer-to-peer network where each participant in the network has access to a shared ledger where the transactions are recorded. These transactions are by design, immutable and independently verifiable.

The rest of the announcement can be found here.

2018 will likely bring us increased regulation, increased scrutiny, and increased interest in the cryptocurrency market. As the market continues its journey toward widespread adoption having major entrants like Amazon will only further shed a positive light on Bitcoin and blockchain.  Will Amazon have a stronger relationship with Bitcoin and other cryptocurrencies in the near future? We’re not sure yet, but maybe if we close our eyes and click our shoes together three times we’ll get the future we deserve.

Amazon Bitcoin, Amazon Bitcoin, Amazon Bitcoin.

via GIPHY