Walmart gets a patent for using Crypto, which may be a game changer for retail!

04 September 2019 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel reported that in “…early August 2019, Walmart announced it had published a patent for a methodology for using stable coins and distributed ledger technology to eliminate the need for credit cards, to bank the unbanked, and to provide an entryway into the global economy for the retailer’s two million employees.”  The August 29, 2019 article entitled “Josh Lawler: Walmart’s Crypto Experiment to Shake the Foundations of the Retail Payment Process. . . and a Whole Lot More” included these comments:

Through its “Money Centers,” Walmart offers check cashing, check printing, tax prep services, international money transactions (through MoneyGram), and now an ATM-equivalent via PayPal. It offers these services without requiring a credit check.

Walmart’s Money Center already has several crossovers with distributed ledger technology, albeit indirect. For example, MoneyGram had recently announced a $30-million-dollar investment from Ripple, in addition to the confirmation that MoneyGram will be using Ripple’s xVia. While there hasn’t been a direct announcement that Walmart will be participating in the budding Ripple partnership, Walmart is partnered with MoneyGram centers around the world.

BIG RETAIL is surely changing!

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