mazon (AMZN), the world's largest e-commerce company, appears likely to enter the cryptocurrency field next year with plans to launch their own coin. Earlier this month, the corporation advertised for a "Head of Digital Currency and Blockchain" role.

Amazon's decision to establish their own cryptocurrency is thought to be an attempt to compete with rival tech firm Meta (formally Facebook). Additionally, Google has teamed with to enable users of the Google Pay app to pay with bitcoin.

But wait a minute, doesn't Amazon already have a cryptocurrency?

Amazon already has its own digital currency, called Amazon Coin, which it released in 2013, however this token may be used exclusively to purchase games and apps on the Amazon App store.

However, the new Amazon Token will function similarly to Bitcoin in that users will be able to acquire, invest in, and trade the digital money. 

When will the Amazon token be available for purchase?

Amazon appears to be launching the token in 2022, although no additional information has been given on the specific launch date.

The Amazon token will very certainly enable customers to use their crypto to make purchases on the Amazon website, although the exact date of implementation is unknown at the moment.

Amazon's blockchain initiative will be branded 'Amazon Managed Blockchain,' and it will be the company's most extensive effort to date to embrace such a project.

Amazon had previously considered starting such a project, albeit prior efforts were somewhat less ambitious than the current endeavour.

In conclusion

Amazon's entry into the crypto arena is a positive development for the industry, as it may encourage companies from other industries to enter, allowing users to purchase goods and services using bitcoin.

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