○ Amazon CEOAndy Jassy, optimistic about the future Cryptocurrencies and NFTs. Despite not having any bitcoin or non-fungible tokens, he positively welcomed the possibility of Jeff Bezos starting the company. Sell NFTs In the future.
“I think it’s possible on the platform,” Jassy said in an interview with CNBC. He also said he believes “NFTs will continue to grow significantly.”
The man chosen to succeed Bezos as Amazon’s president also spoke about the possibility of using cryptocurrencies for payments on the platform in the future.
“We’re probably not close to adding cryptocurrencies as a payment mechanism to our retail business, but I believe over time you’ll see cryptocurrencies get bigger,” Jassy said.
Amazon has previously expressed interest in cryptocurrencies. Last year, the company sought a digital currency and blockchain expert to join the payments team and help shape Amazon’s product strategy and roadmap around these technologies.
NFTs (Non-Fungible Tokens) are digital assets whose ownership is registered on the blockchain. We explain everything about them in this article.
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First Letter to Amazon Shareholders
Andy Jassy, who took over Amazon on July 5, 2021, also released his first annual letter to shareholders since taking over Amazon on Thursday (14th).
Jassy writes about Amazon’s huge growth during the pandemic, especially in retail. “We’ve seen in about 15 months the equivalent of a three-year forecast,” he said.
The CEO also spoke about the logistical and cost challenges of trying to keep up with high demand during the pandemic. The company had to quickly expand its warehouse network to handle the high volume of orders.
“We built a very large fulfillment network in Amazon’s first 25 years and then had to double it over the past 24 months to meet customer demand,” Jassy wrote.
As of the end of last year, Amazon had 410 fulfillment centers and 260,000 delivery drivers worldwide, according to Jassy.
Another issue the CEO addressed was the impact of a “tight” labor market, which made it difficult to move inventory more efficiently.
Supply chain constraints also added another layer of challenges, Jassy said, with container prices soaring as sea, air and truck capacity was constrained.
“It’s not normal for a company of any size to be able to react to something like this that’s discontinuous and unpredictable,” Jassy said. “What is it about Amazon that allows us to do that? It’s because we’re not from from scratch.”
*Information from CNBC