Walmart and Crypto?

In blockchain news, Walmart is actually getting into cryptocurrency. However, they are not doing it in the way that you would think. Instead of having to invest in blockchain certification training and other needless expenses by taking on one of the wildly fluctuating cryptocurrencies into its umbrella, Walmart is actually doing something smart. It is taking the best part of cryptocurrency, the blockchain, and leaving the volatile parts of the market to the speculators.

Trying to create its own payment system is not new to Walmart. It tried to do so in response to Apple Pay a few years back and failed quite miserably . Most people do not even remember the payment system currentC, and there is absolutely no reason to remember it. It involved a double QR scanning procedure that was absolutely terrible and came up with nothing but missed checkouts in stores across the country. Mercifully, it was put to rest before it did any big damage.

Walmart has recently applied for and received permission to hold two patents related to the blockchain. These two patents give Walmart the ability to create its own payment system. However, this system will definitely be attached to the more stable currencies of the world, namely the US dollar. This is not to say that Walmart will not allow cryptocurrency in its stores in the future, but this is definitely not something that is going to happen in the near future.

Other companies are watching Walmart to see if the blockchain has application outside of cryptocurrency. It certainly does, but the way that people apply it has not been set in stone. It is definitely good for a large company such as Walmart to take all of the early hits, as it has a marketing budget and a revenue stream that can handle it.

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