Amazon Buys Cryptocurrency-themed Domain Names, Possibly Hedging for the Blockchain Revolution

The craze for cryptocurrency and blockchain technology has heightened tremendously as the big players have moved toward their implementation. Even though some of the most influential people talk down on cryptocurrency, their values just keep going up and are now forcing people who doubted it, to pay close attention to its ascension. We call it FOMO (Fear of Missing Out) in the crypto world. This is what I feel Amazon is going through as they have recently just purchased three domains: amazoncryptocurrency.com, amazonethereum.com, and amazoncryptocurrencies.com.

While there is no solid evidence that Amazon is planning on accepting cryptocurrency, I have a strong inclination that they will need to as it will become an official form of digital currency. Seeing as they adopted cloud technology with their Amazon Web Services platform, the time will come where they begin to use blockchain technology and look to be leaders in that industry.

The VP of Amazon Pay made a statement that Amazon does not have any intentions at this moment to accept the bitcoin currency because there isn't enough demand to command their attention. While this may be true right now, seeing the increase in Bitcoin's price in the last few years causes me to think about the surge in demand that will happen in the near future.

Even though Amazon does not plan to adapt this anytime soon, their involvement in this technology brings a lot of attention and lifts the entire market to another level. The cryptocurrency market moves on its demand or to be more specific, its hype. The more people believe in the coins, the more their values go up and Amazon being involved in this brings more speculation to them. If Amazon is being careful because of the potential future shock that cryptocurrency and blockchain will generate, maybe you should look into them too!