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Our latest updatesCryptocurrency Development Opens Jobs in the IT Market
Amazon is reportedly looking for professionals to invest in the development of a new cryptocurrency; learn the details and which companies already invest in the sector.
February 25, 2021
Overview:
* Amazon is reportedly looking for developers to create its own digital currency. This search for tech professionals may signal an investment trend among large companies for the coming years.
* Digital currencies have been gaining strength in recent years, especially after Facebook, Twitter, and Tesla invested in Bitcoin.
* Hitting records almost every day, digital currencies are expected to be integrated into bank and fintech systems in the coming years, making it easier to buy these assets and transfer them between users.
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The growing use of cryptocurrencies worldwide may become a major gateway for many technology professionals.
At least, that is what some major recruitment platforms have been indicating—such as Amazon Jobs, for example.
According to the platform, Amazon would have openings for engineers and software development managers who would work on developing a proprietary cryptocurrency for Jeff Bezos’ company.
As one of the richest companies in the world, the goal of the project would be to offer a new payment method to users of the brand’s services.
According to one of the job postings on Amazon Jobs, this new product would allow customers to convert conventional money into a digital currency.
That way, it would be possible to enjoy online services—including purchasing goods and subscribing to services like Amazon Prime Video—with benefits and advantages for those who adopt it.
According to rumors, Amazon would be interested in launching the project first in Mexico and then expanding to other countries.
The company’s choice to develop its own cryptocurrency is also driven by the strong appreciation of virtual currencies worldwide.
Recently, Bitcoin hit record highs in the market, as did Ethereum—another digital currency that has gained traction in recent months.
However, the development of the currency may also be just an evolution of the current Amazon Coin, which is available in the company’s games and apps and is used for purchasing digital items. Unfortunately, there is still no more complete information on the topic.
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Digital currencies are becoming part of the world’s biggest companies
Amazon’s initiative follows a trend: major companies may start investing more in cryptocurrencies.
The best-known example today is Facebook, which, together with the Diem Association, developed a currency known as Diem.
In addition, another company that started investing was Twitter and Tesla. After Elon Musk’s company bought around US$ 1.5 billion in Bitcoin, the social network with the blue bird also invested in the cryptoasset.
These high-profile investments in digital currencies have driven prices up and increased visibility in the stock market.
Because of that, it is expected that in the coming years other companies will also invest—either by developing new currencies or by acquiring established ones.
Banks and fintechs are also expected to adopt cryptocurrencies in the future
Beyond the world’s richest companies investing heavily in digital currencies, it is expected that banks, fintechs, and payment companies will also adopt cryptocurrencies in their systems.
As the sale of these assets to individual consumers grows, it will become common for users to hold this type of currency in their wallets instead of keeping money in a savings account, for example.
Following that line of thinking, Mastercard announced in early 2021 that it planned to integrate cryptocurrency transactions as a form of payment later that year. That would make it possible to buy and sell assets more quickly and without intermediate currency exchange.
This development of new solutions based on cryptocurrencies can revolutionize how we make online payments in the coming years.
In addition, just like the rise of digital banks, we can expect a large number of companies investing in the sector and, consequently, increasing demand for developing specialized software and apps.
Here at X-Apps, as the sector evolved, Bradesco needed specific improvements to its internet banking solution to provide an even more refined user experience.
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