It was at the beginning of the last quarter of 2020 when PayPal as a major online payments service provider adopted cryptocurrencies. It was the first major firm that had adopted cryptocurrencies, which soon compelled other mainstream institutions to rally towards the cryptocurrency sector.
Since then, PayPal has made several developments and progresses in the cryptocurrency sector. As a result, the platform has exposed its 334 million users to the cryptocurrency sector. Following the adoption, PayPal’s user base has grown almost close to 400 million users in a matter of 8 months.
Furthermore, PayPal has reported that it has generated huge revenues from the fourth quarter of 2020 and the first two quarters of 2021. The payments giant has attributed the growth in the revenue and profits of the company towards mass investments and the interest of its users in cryptocurrencies.
Looking at the potential and outcomes the cryptocurrency industry can help a platform achieve, other firms have also jumped into the industry. Another major firm from the United States to adopt cryptocurrencies was Tesla that adopted crypto for payments for its products, including electric vehicles.
Since then, mass adoption has come towards the cryptocurrency sector and the industry has gained tremendous growth in the e-commerce sector.
Over time, the industry has demonstrated tremendous adaptability, which is why the largest e-commerce platform, Amazon is now interested in digital currencies.
About a month back, it was revealed that Amazon had posted new job openings for the blockchain sector. It was revealed that the firm was looking forward to onboarding people with experience in the blockchain and cryptocurrency industry.
After the initial reports of Amazon hiring crypto-blockchain experienced individuals, no further reports came out. However, the reports have re-emerged and this time, it has been revealed that Amazon is now going after big guns from the crypto-blockchain sector to bring them onboard.
By now, it has become clear that Amazon is planning to dive into the digital currency sector as well as familiarize itself with blockchain technology. This is the reason why it is going after people from the particular sector that have had exposure to the payments systems in the crypto-blockchain sector.
Amazon has recently advertised a job posting for a leader who has vast experience in the blockchain product and digital currency sector. The job was reportedly posted by the payments acceptance and experience team at Amazon.
The lead would be responsible for coming up with and building strategies around the development of blockchain as well as a digital currency. The lead would also be responsible for providing a roadmap for the products that Amazon will be launching in near future.
So far, Amazon has explored several other new sectors and has observed tremendous acceptance rates in all of them. It is being expected that once Amazon dives into the crypto-blockchain sector, it would definitely compete with all major companies in the particular sector.