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Amazon Is Looking To Explore DeFi & Blockchain Space , My Take On This !

Amazon recently listed the Job Posting For Head of Product with Blockchain & DeFi Experience. Let’s explore why ?

Here is the Job Posting which has attracted many eyeballs from crypto community and enthusiast:

Where it says (A para from their posting )

“ Are you passionate about blockchain and decentralized networks and their potential to transform how people, companies, and governments transact? Do you want to define the future direction for how Amazon Web Services (AWS) will enable customers to solve problems and innovate with blockchain technology across a wide range of industries and use cases? Come join us to head product on the Amazon Managed Blockchain team.”

Why Is This Job Posting Significant ?

Amazon is a tech giant which does thing at scale and have and end to end control over their technology & processes, now their interest to explore Blockchain and DefI space needs to be seen as a serious move as Defi has already proven its worth in the crypto & blockchain world with more than $60 billion USD of total value which is locked across all the categories of Defi, sector .

To learn more about DeFi & its importance :

Do read my articles below:

What Amazon May Be Upto ?

Amazon has a global presence with multiple tech driven businesses including

  • eCommerce
  • Payments
  • Cloud Computing
  • Supply Chain & Management space
  • Space technology etc…

Trusted Supply Chain Management Via Blockchain:

I feel, blockchain as a platform can be quite congenial for them to adopt as for them customer experience is paramount and they would love revolutionize the same for their supply chain management using blockchain as underlying tech. Blockchain brings transparency in the supply chain cycle and enhances the consumer trust for the product authentic, thereby enhancing Amazon brand value to next level.

Payment Support For Cryptos:

The kind of success Paypal and some other big institutions have seen in terms of increased transactions volume, from their users using their payment wallet service, have set an unprecedented trend for adoption of DeFi and crypto based payments. Amazon has also been quite aggressive in their payment business, and may want to explore this space with serious intent to adopt crypto based payment as one of their prime offerings apart from fiat currency support .

Most importantly, coming up with a blockchain based crypto wallet can be a right path to adopt , and they may be looking to build this tech in-house to support their innovation in the payment space.

DeFi : Billion Dollar Opportunity :

As per Defi Pulse,

Total value locked in the DeFi space is >60 billion which includes,

  • Crypto lending
  • Crypto Borrowing
  • Yield Farming
  • Crypto Stacking etc..

This industry has grown extremely fast since its started to catch user attention in 2020, Amazon visionaries would definitely like to venture into this DeFi use cases and not miss the bus.

AWS Cloud Infra Supporting Blockchain Development For Their Client Base

They have hundreds and thousands of tech startups and many large scale tech businesses who are actively leveraging their AWS cloud services to build mobile apps, SAAS products etc…

Amazon would be looking to encash their leadership in cloud space to further offer blockchain based decentralised & secure infrastructure to support developers who may be looking to build a DeFi , DApps on top of it . Amazon can definitely explore building a platform similar to Ethereum 2.0 , if they are willing to open-source and adopt decentralization as a technology of their choice while offering smart contract, DeFi or DApps oriented services for their customers.

Summary:

I Feel:

When a tech behemoth like amazon shows interest to explore blockchain space , it sends a very strong signal to the community that this new age blockchain enabled solutions are here to stay and well poised to grow exponentially. This new internet powered by the fabrics of decentralisation is going to rule the tech world of the future and if you really want to experience this change , you need to educate and prepare well not only as the crypto investor but also as a techie who is looking to make a career out of it.

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Well researched educational content for the crypto enthusiast

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@pramodAIML

@pramodAIML

Passionate Blogger & Tech Entrepreneur | Founder of FinTech Startup | Write about AIML, DevOps, Product Mgmt & Crypto

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