Amazon Subsidiary Registers Ethereum, Cryptocurrency Domains

Amazon Subsidiary Registers Ethereum, Cryptocurrency Domains:

According to online records, e-commerce giant Amazon, often seen as the “white whale of bitcoin payments, recently registered three cryptocurrency-related domain names: “amazoncryptocurrency.com,” “amazoncryptocurrencies.com,” and “amazonethereum.com.” The move was first reported by domain industry news website DomainNameWire.

Whois records link the domains to a subsidiary of Amazon.com, Amazon Technologies, which has in the past been linked to patent filings. At press time, all three domains are a dead end, but a domain the e-commerce giant registered in 2013 – amazonbitocoin.com – redirects to its main page, Amazon.com.

The move comes at a time in which bitcoin hits a new all-time high above $6,900, following an announcement made by the world’s largest derivatives exchange, the CME Group, that it intends to launch bitcoin futures during the fourth quarter of 2017.

Amazon has been contacted by several outlets, but has so far seemingly not replied to any. Earlier this year CCN debunked rumors that claimed Amazon would be accepting bitcoin within the near future – as early as October – by pointing out these came from an ad to a cryptocurrency “masterclass.”

On Reddit and other discussion forums, users quickly pointed out that large organizations regularly register domain names to protect their brand, and that as such the move, by itself, isn’t enough to jump to any conclusion

Purpose Still Unknown

At press time, the purpose these domain names will serve is still unclear. DomainNewsWire, the first to report Amazon’s move, pointed out that the e-commerce giant is overzealous when it comes to defensive domain name registrations. As such, this may simply be a defensive move by a brand protection agency.

On the other hand, the domain name registrations may suggest Amazon is either preparing for a big cryptocurrency-related move, or merely attempting to separate its Amazon Coin – a digital currency it created in 2013 – from cryptocurrencies like bitcoin and ethereum.

CNBC pointed out that Amazon Pay’s VP, Patrick Gauthier, stated that Amazon doesn’t plan on accepting cryptocurrencies because “there hasn’t been much demand yet,” suggesting the e-commerce giant may indeed by trying to protect its band name.

Earlier this year, a Change.org petition attempted to land Amazon, the “white whale” of cryptocurrency payments, by urging its founder and CEO Jeff Bezos to accept bitcoin and litecoin payments, suggesting a quality of life increase to its customers. It managed to get over 12,000 signatures.

If Amazon did decide to accept bitcoin and other cryptocurrencies as a payment method, it would go a long way toward the ecosystem’s growth and acceptance, as the move would assuredly gain international press coverage.

H/t reader kevin a.

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