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Jeff Bezos steps down: Crypto-curious Andy Jassy to develop into new Amazon CEO

02/02/2021

The soon-to-be high govt at Amazon has launched blockchain merchandise up to now.

Amazon has introduced at present that founder and CEO Jeff Bezos is planning to step down as CEO, and Amazon Net Providers CEO Andy Jassy — who oversaw Amazon’s crypto product choices — will substitute him. 

In his letter to staff, Bezos stated that he could be transitioning to the function of govt chair of the Amazon board, the place he would “focus my energies and a focus on new merchandise and early initiatives.” The transition is scheduled for later within the 12 months.

Bezos additionally famous that Jassy “might be an excellent chief, and has my full confidence.”

The crypto world’s consideration now turns to Jassy’s historical past with regards to embracing blockchain expertise, because it may very well be a sign of the long-term crypto technique of the world’s third-most priceless firm by market capitalization.

Jassy provided a blended evaluation of blockchain expertise and its applicability to Amazon’s enterprise in 2017. In a press release on the Amazon “re:Invent” convention, he expressed doubt that blockchain may very well be used for greater than a “distributed ledger” but in addition stated he and his group had been personally . Nevertheless, firm coverage dictated that they do not “construct expertise [just] as a result of we expect it’s cool.”

He did depart the door open for future exploration, nevertheless, saying, “We’re very intrigued by what clients are in the end going to do there.”

In 2018, Jassy did transfer ahead with a “quasi-blockchain” providing, as he oversaw the launch of two blockchain merchandise: Amazon Quantum Ledger Database and Amazon Managed Blockchain. As Cointelegraph reported, the merchandise maintained centralized databases however included cryptographic qualities. 

Except for these forays, Amazon has largely solely made crypto headlines as a scapegoat: In November 2020, Coinbase blamed an AWS outage for one among its frequent service interruptions. However as a brand new CEO steps in, the crypto neighborhood is keen to see what, if any, adjustments Jassy will convey.