Amazon’s Cryptography Patent Triggers Bitcoin Integration Speculation

Amazon’s Cryptography Patent Triggers Bitcoin Integration Speculation



Amazon’s Cryptography Patent Triggers Bitcoin Integration Speculation

Joining some of the most recognized brands in the world, American multinational tech company Amazon has now filed its own application for a blockchain-based patent focused on cryptography, according to AMBCrypto.

The patent itself was actually filed over two years ago just before Christmas 2016, but the ‘Generation of Merkle Trees as Proof-of-Work’ filing was only recently discovered when Anthony Pompliano, co-founder of Morgan Creek Digital, shared a post on Twitter:

Pompliano went on to say that the “virus was spreading”, referencing how even large corporations and institutional money was now joining the “(crypto) revolution”. It should be noted, however, that the relation to cryptocurrency from the patent is only based on its patenting of a proof of work authentication based on cryptography, which bears some semblance to the algorithm used to secure the Bitcoin network, and the blockchains of many other cryptocurrencies.

The patent singles out the technology’s use to “purely mitigate any Distributed Denial of Service (DDoS) attack” with a detailed SHA-256 hashing algorithm, the same used by Bitcoin.

Beyond that, there is little to say that Amazon will be integrating Bitcoin into its marketplace, but that won’t stop the rumor mill from heating up. 

Amazon itself has issued no formal statement, although the door is clearly not closed. Amazon Web Services General Manager Rahul Pathak had said at the recent Consensus 2019 that Amazon would surely obtain a “point of view” on digital assets it they were something that “matters to customers”.

 

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Amazon’s Cryptography Patent Triggers Bitcoin Integration Speculation



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