Amazon’s Data Stream Patent

Current Events + Ravn

The future of hypotheticals is looking bright thanks to Amazon’s new data patent and their potential snoopy clients. The giant e-commerce company was awarded the patent for a subscription feed in order to identify bitcoin transactions, if and when they’re used to make purchases through Amazon at some point in time. The clients of this potential scenario? Governments, including law enforcement.

Cryptocurrency and the use of it is not illegal but governing bodies are increasingly scrambling to gain control over the crypto world, worldwide. Since the taxing of bitcoin relies on self-reporting, naturally there are those not being fully transparent and therefore the governments need to know who these people are and penalize them. A concern is, the patents’ attempt to gain information allows for that very information to be obtained through a deductive process that would not produce exclusively factual results…

Is that scary to you?

Potential disciplinary action from cryptocurrency use on Amazon purchases, based on an amalgamation of connecting cyber dots in order to identify you, is a possibility for the future. It is semi-desperate cyber judgement in the name of tax evasion.

It may seem a bit premature to discuss since as of this moment, bitcoins can’t be used for Amazon purchases yet, but it is significant that a powerhouse like Amazon is thinking ahead to that day — seems like a plug for cyptocurrency, right?