“You will use your technical knowledge in Blockchain, Distributed Ledger, Central Bank Digital Currencies, and Cryptocurrency to build a system with new capabilities, drive overall approach and business model, and obtain leadership buy-in and funding for new abilities.” There’s more out there than seen visually, after all! In addition to recruiting a new boss, the e-commerce behemoth is considering integrating Bitcoin payments. The chosen person will be tasked with the responsibility of developing a product roadmap. As a result, AMP may be a potential associate for Amazon, which is considering accepting crypto payments.Īmazon issued a job posting on Friday searching for a Product Lead for its Blockchain and Crypto section. According to BitBoy, who cited sources within Amazon, there are solid speculations that the e-commerce behemoth is collaborating with two crypto ventures, AMP and Algorand.ĪMP is a digital collateral token that may be used to provide fast, provable guarantees for any type of payment transactions. At the time of writing, AMP was up 4% to $0.07 per share, with a market valuation of $2.9 billion.īitBoy Crypto, a widely known YouTube channel with more than 1.1 million subscribers, has also discussed bout the development. There’s no formal declaration from Amazon yet, but rumors are circulating that the e-commerce behemoth is considering giving support to the crypto sector. Tokenized digital collateral AMP has gained 50% today on speculations that it, alongside Algorand, is collaborating with Amazon on a cryptocurrency based initiative. "We will continue to work very hard on those customer experiences, and we have a lot more planned," Jassy said.Bitcoin News Jby Kelly Cromley Amazon’s Rumored Crypto Adoption Spurs AMP Tokens By 50% He listed a number of new services Amazon launched in recent years, including the Buy with Prime feature that lets Prime members get free shipping on non-Amazon sites, and the new RxPass prescription delivery service. Customer experience: Jassy said "being maniacally focused on the customer experience" will always be a top priority."We'll continue to work really hard on being sharp on pricing," Jassy said. ![]() Amazon has run a number of different deals and promotions recently to help alleviate some of those concerns. Pricing: In the current economy, customers are "very conscious" about how much they're spending, Jassy said, which makes pricing an even more important factor for them.And when there's more product selection that is delivered quickly, it only leads to high customer satisfaction. Speed and selection: Jassy said getting products to customers faster makes them happier, and that leads to higher conversion rates.So we're working very hard on it," Jassy said. "To figure out how to be really efficient across all those links and have them be highly utilized and to get the flows in those facilities work in the right way, it takes time. That means Amazon has a lot to figure out on how to optimize costs and how to make more efficient decisions. It also built out a transportation network "roughly the size of UPS" in that same period, Jassy said. Efficiency: Amazon expanded significantly during the pandemic, doubling its fulfillment center footprint in a couple of years.Here are the 4 focus areas for Amazon, according to Jassy: "For any leadership team, each era is different, and it's often meaningfully impacted by what's happening around you," Jassy said. Those external factors include the pandemic, labor shortages, and an uncertain economy, just to name a few, according to Jassy. Early this year, there was even chatter internally about Bezos potentially returning to the helm as CEO.ĭuring the call, Jassy said Amazon's priorities shift based on "what's happening around" the company and that his focus areas may be different from prior leaders like Bezos. The company's stock plunged last year, bureaucracy has crept in steadily, and the company is laying off 18,000 employees. Jassy's unexpected appearance highlights the pressure he's facing as CEO. Jassy said he'll jump on the call "from time to time moving forward" on Thursday. Amazon founder and ex-CEO Jeff Bezos didn't join the call for years before stepping down in 2021. Unlike most other companies, Amazon's earnings calls are led by its CFO Brian Olsavsky. It often indicates a user profile.Īmazon CEO Andy Jassy made his first ever appearance on the company's earnings call on Thursday and shared the 4 areas he's most focused on. Account icon An icon in the shape of a person's head and shoulders.
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