Why Amazon Is Buying Up All Those Cryptocurrency URLs

 

 

Amazon is interested in crypto because Amazon is interested, and has the money to be interested, in nearly everything. The mainstreaming of Bitcoin and its brethren are arguably the biggest financial development of the past year, so it makes sense that Amazon wants to keep its finger on the pulse of things.

(From The Federalist)

Cryptocurrency being an inherently speculative topic, here’s one possible answer. Amazon does have a mild but clear interest in doing its due diligence in brand protection and locking down all those URLs. And it does have a potential interest in making a hard-to-top move into crypto, although not necessarily any of the available currencies.

Perhaps the wisest course of action is a sort of headfake against the expectations of the financial and media observers who’d enjoy such an interesting time to be alive if Amazon played to the stereotyped vision of our future and went all-in on crypto. What if the company instead just ramped up a product called, say, Primecoin? A proprietary cryptocurrency, backed by the full faith and credit of the company? Picture a cross between a debit card and a points program. Would you receive special prices, discounts, and offers for using Primecoin? Of course you would.

The announcement of something like Primecoin would risk touching off some kind of currency race among retailers. But only the very largest would be able to scale it up, and most would have little reason to bother.

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