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Amazon Unveils Blockchain Advertising Business Plan

Amazon Unveils Blockchain Advertising Business Plan

in Bitcoin & Cryptocurrency published on 8, August 2019

Global e-commerce giant Amazon is reported to be looking to integrate blockchain technologies within its advertising business. Amazon has described the move as a “greenfield area” for the company.

Amazon Developing Blockchain Systems

A job posting published this week revealed Amazon was inviting applications to join its “Advertising FinTech team focused on a Blockchain ledger”. The move is part of a wider effort at the firm to develop its in-house blockchain systems.

The team will be based at the firm’s Boulder, Colorado facility. They will subsequently work on billing and reconciliation, amongst other technologies, according to the job posting.

The job description framed the opportunity as a chance to develop new architecture around Amazon’s blockchain systems.

“This is an opportunity to define a technology architectural direction of a greenfield area for Amazon’s advertising business using Blockchain technology.”

The company itself has remained tight lipped on the details, and did not disclose information about the role. When asked, it simply stated that the firm “doesn’t have anything to share at this time.”

Streamlining Internal Processes

However, sources close to the company have suggested the work is likely to focus on increasing transparency on global financial data, within the advertising arm of the company.

The same tech that powers cryptocurrencies like bitcoin, blockchain is becoming an increasingly important technology for companies looking to streamline internal processes.

Amazon itself is no stranger to the technology. The e-commerce giant previously developed a proprietary blockchain within its Amazon Web Services cloud business.

In the advertising use case, a number of firms are exploring or developing similar technologies, relying on blockchain technology to more accurately track and allocate advertising spend.

There is no suggestion so far that Amazon intends to develop a platform for anything other than back-end functions. However, a public roll-out of similar technologies would likely prove popular with Amazon advertisers and the wider digital advertising sector. After all, the firm previously followed a similar path with its proprietary AWS blockchain.

And what does one of the world’s largest companies actively exploring internal blockchain systems indicate? Quite simply that the technology is set to become increasingly more mainstream for businesses across industries.