Is Amazon Preparing to Accept Bitcoin? Patent Signs Point to Maybe

People have long speculated that Amazon may one day soon allow bitcoin and/or other cryptocurrencis as payment on their website.  That speculation gained more potential when the company recently received a patent from the US Patent and Trademark Office for marketplace data feeds that would allow bitcoin transactions.

From cnbc.com

Amazon wins patent for data feed marketplace that could include bitcoin transactions

Amazon Technologies has won a patent for a marketplace that offers data feeds, including bitcoin transactions.

The U.S. Patent and Trademark Office on Tuesday approved the Amazon.com subsidiary’s September 2014 filing for a patent that can correlate different data streams and sell the combined feed as a subscription to people who want to track that data. The filing referenced bitcoin transactions twice as examples of possible products.

In the first case, the filing described “a data stream that publishes or includes global bitcoin transactions (or any crypto currency transaction).”

“For example, a group of electronic or internet retailers who accept bitcoin transactions may have a shipping address that may correlate with the bitcoin address. The electronic retailers may combine the shipping address with the bitcoin transaction data to create correlated data and republish the combined data as a combined data stream. A group of telecommunications providers may subscribe downstream to the combined data stream and be able to correlate the IP (Internet Protocol) addresses of the transactions to countries of origin. Government agencies may be able to subscribe downstream and correlate tax transaction data to help identify transaction participants.”

 

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Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines. He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv