Walmart is suggested to issue their cryptocurrency to get more customers

[Biomass]

Not only Walmart but also any company who want to incentivize people accept their new cryptocurrency. This scenario can bring so much benefit to them. Let's suppose WAM coin is the cryptocurrency issued by Walmart.

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News on 2019-Jan, the 11th

On the 10th birthday of Satoshi Nakamoto's whitepaper about Bitcoin, a subpaper about cryptocurrencies written by Idea Nakamoto was sent to the CEO of Walmart.

The subpaper can be found here: https://bitcointalk.org/index.php?topic=5064831.0

Finally, Walmart decided to issue their own blockchained-based WAM coin and run a giftdrop campaign for customers as bonus for their expense at Walmart.

For every bill of shopping at Walmart, a customer can recieve an amount of WAM equal to 1% of the total expense. The receipt is printed together with a WAM giftdrop paper wallet's private key(covered by void-label). The bonus WAM coins are sent to the giftdrop paper wallet through its public address.



Figure of Illustration: a DeepOnion paper wallet with Public Address to receive and Private Key to restore the whole control. DeepOnion is a POS ultimately private coin running on Tor network (darknet) with its unique multi-functions.



Figure of Illustration: the customers scratch out the void label to get the Private Key of the giftdrop paper wallet.

With this giftdrop campaign of Walmart, people without knowing anything about cryptocurrencies but can all possess WAM coins in their hands. As the result of this fact, ten thousands of people rushed to Wallmart to join the shopping WAM day.

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News on 2019-Feb, the 11th

After only one month since the first giftdrop campaign of WAM coin issued by Walmart, Coin Marketcap's data shows that the daily volume of WAM coin increased 26 folds. This coin attracts millions of people around the world either to invest to WAM coin or to simply increase their expense at Walmart to get bonus WAM coin as giftdrop.

In the next plan of Walmart, WAM coin can be used as a direct payment medium at Walmart. There is still no clear answer for the question about the law issues on this plan. However, in a very short time, WAM coin became a phenomenon of making all kinds of people to learn about cryptocurrencies. The mooning of WAM coin is considered as the skyrocket ignition of a bullish market in 2019. WAM coin is now ranked the 11th position just after IOTA.

People talk about cryptocurrencies everywhere. Google Trend Data shows that the interest about cryptocurrencies increases incredibly in the last 3 weeks. And WAM is on the way to be the flagship of Q1 2019.

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Thanks for your reading my dreaming writing of an imagined story. Anyway, this is a dream of practical and simple solution that I wish to contribute to the development of cryptocurrencies. Paperization of cryptocurrencies is surely a certain trend. Because cryptocurrencies will not just only exist online but also neccessarily offline. And the paper wallets are the vital answer.

2018-Nov, 13th
Idea Nakamoto

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[mk4]

I don't get it. Why should Walmart issue their own cryptocurrency instead of adopting bitcoin? What's the advantage of Walmart creating their own "WAM" coin and how will it help them get more customers like you're saying? I'm pretty sure they're doing fine with just accepting fiat currency. Creating their own coin/token is simply just pointless.

[Biomass]

That is not the main point of the story my friend. WAM can be replaced by any different cryptocurrency in this story. However, I think WAM or BTC are both ok for the marketing of cryptocurrencies in general to the society by giftdrops.

Anyway, if you can issue your own cryptocurrency, you can do very many things with it. First, you have your pre-mined coins and what you have to do is just promote the coin to higher price by making it popular and useful. Second, you can customize the coin functions for your usage.

Airdrops promote only ICOs to crypto-citizens.
(Paper wallet) Giftdrops physically promote the whole cryptocurrencies to everyone !
This is what I am trying to describe with my limited language.

[mk4]

Anyway, if you can issue your own cryptocurrency, you can do very many things with it. First, you have your pre-mined coins and what you have to do is just promote the coin to higher price by making it popular and useful. Second, you can customize the coin functions for your usage.

I still don't see a point of them issuing their own cryptocurrency. They can do fine simply just by using their own website or their own app for things such as rewards and other "useful" things; just as how big businesses like Starbucks do it. Not everything needs blockchain and not everything needs to be decentralized.

[Biomass]

I composed the story that Walmart should create their own cryptocurrency just to ... catch your eyes  

In fact, they do not need. Yes. You are right. They do not need it. They can take directly Bitcoin as the bonus for their customers.

But you can think of this further than just Walmart and the bonus given to customers. Walmart do not need that kind of bonus. People will also not be attracted to Walmart just because they give Bitcoin. It is better they give them cash or discount points. So Bitcoin is not the point. A new coin, which needs to be introduced, is the point.

Imagine Walmart is our cryptocurrency community. Among us, cryptocurrencies are accepted. But out of this community, people still do not know anything about cryptocurrencies. They also doubt of them. They think of Bitcoin, Ripple, Ethereum, and cryptocurrencies in general as "virtual money", Ponzi schemes, scams ...

Unless you give the cryptocurrencies to their hand, you will never persuade them quickly enough to make them learn and accept cryptocurrencies. But how to give them a cryptocurrency ? They do not have an wallet for you to send. And if they do have wallets, they are not the targeted people for us to introduce cryptocurrencies.

Giftdrop paper wallet can solve this problem first. Besides, giftdrop paper wallets have many other applications. The story of Walmart above is just an example case in suppose.

Paper wallets are the physical form of cryptocurrencies. Let's think of utilization of this mediums.

[Biomass]

Anyway, thank you very much Mjglqw for your reading my messy writing. I found it so hard to express my thinking. I wrote the paper some days ago and no one replied, which meant no one cared.  But I am still very sure this is the certain way for cryptocurrencies to exist physically in the daily life. That day will come soon or later.

[coin8coin8]

Anyway, if you can issue your own cryptocurrency, you can do very many things with it. First, you have your pre-mined coins and what you have to do is just promote the coin to higher price by making it popular and useful. Second, you can customize the coin functions for your usage.

I still don't see a point of them issuing their own cryptocurrency. They can do fine simply just by using their own website or their own app for things such as rewards and other "useful" things; just as how big businesses like Starbucks do it. Not everything needs blockchain and not everything needs to be decentralized.

I totally agree with you that a large shopping mall like WalMart does not make any sense to issue its own cryptocurrency，it is enough to use Bitcoin. There are enough types of altcoins now, and most of them are very bad. For large supermarkets, their biggest business is retailing goods, using a new cryptocurrency does not bring them any additional benefits. On the contrary, it may lead to extreme instability.
This will only create more bubble of crypto, to know crypto is not everything, and it can't change everything.

[pooya87]

this is never going to help any business grow and get more customers! they may get hyped up for a little while as they advertise the shit out of it and give away free money (tokens) but in the long run it will fail because people aren't going to convert their fiat into a token that they can only use in one place!
people are still reluctant to convert their fiat to bitcoin which is a global currency and can be used everywhere so you can't really expect them to do it with a limited use token!

[Biomass]

No my friends. That will not make business bad. Think of airdrops of ICOs. Airdrops make ICOs popular in no time. Giftdrops can do more than that with cryptocurrencies in general.

This is what I tried to figure out in the paper: https://bitcointalk.org/index.php?topic=5064831.0

Since 2017, a wave of ICOs (Initial Coin Offering) has been seen world-wide. Tokens and new cryptocurrencies with new features, higher transaction speed and lower transaction fee, are created by thousands of teams and introduced to the community. A popular and effective way to incentivize people accept a new coin is running airdrop campaigns, through which the tokens are given to early conditionally registered members. However, this method effects only people who have already been familiar to cryptocurrencies. In facts, the extremely high volatility of cryptocurrency markets, the reputation of Ponzi schemes, the difficulty in understanding the new concepts of cryptocurrencies, etc. make the rest people have prejudice or doubt towards cryptocurrencies.

For an attempt to make cryptocurrencies more popular into the daily life, the utilization of their paper wallets is proposed. An amount of a cryptocurrency can be physically given to someone by being stored in a paper wallet with its private key revealed to the receiver. Hereby, anyone can get cryptocurrencies without knowing well how to deal with this new technology. With some utility apps or intermediate agents, the person can easily either exchange this amount of cryptocurrency for fiats and goods or accumulate the coins in his own corresponding wallet. Let’s call such paperization of cryptocurrencies “giftdrop”. And how giftdrops can be applied and become beneficial in the daily life is discussed in this paper.

Giftdrop = physical airdrop
Airdrop ---> crypto-citizens
Giftdrop ---> everyone

[hassan.ahmad03]

I composed the story that Walmart should create their own cryptocurrency just to ... catch your eyes  

In fact, they do not need. Yes. You are right. They do not need it. They can take directly Bitcoin as the bonus for their customers.

But you can think of this further than just Walmart and the bonus given to customers. Walmart do not need that kind of bonus. People will also not be attracted to Walmart just because they give Bitcoin. It is better they give them cash or discount points. So Bitcoin is not the point. A new coin, which needs to be introduced, is the point.

Imagine Walmart is our cryptocurrency community. Among us, cryptocurrencies are accepted. But out of this community, people still do not know anything about cryptocurrencies. They also doubt of them. They think of Bitcoin, Ripple, Ethereum, and cryptocurrencies in general as "virtual money", Ponzi schemes, scams ...

Unless you give the cryptocurrencies to their hand, you will never persuade them quickly enough to make them learn and accept cryptocurrencies. But how to give them a cryptocurrency ? They do not have an wallet for you to send. And if they do have wallets, they are not the targeted people for us to introduce cryptocurrencies.

Giftdrop paper wallet can solve this problem first. Besides, giftdrop paper wallets have many other applications. The story of Walmart above is just an example case in suppose.

Paper wallets are the physical form of cryptocurrencies. Let's think of utilization of this mediums.

One way what you are saying is right. Walmart can come up with there own cryptocurrency. Since Walmart is a big name in its industry and almost everyone is aware of it so any thing coming from them would be considered authentic and people will feel secure investing with them.

And yes to increase its utility they can allow users online to buy in cryptocurrency.

[QuestionAuthority]

Walmart needs more customers like the ocean needs more water.

I know it took a long time to make this post (especially considering English is a second language for you). I appreciate all your time and effort. BTW: Walmart is already in the money transfer business. I doubt they would see any benefit from their own token.

[elastiman]

Hello, I wish this were true but actually, I think is quite the opposite because I just got an email from PayPal saying that they were going to ally with Wallmart or they already did it. I  don't remember very well but if they are going to ally with PayPal they are not going to accept bitcoins because PayPal and bitcoins have a conflict of interest. So we can say that this is not gonna happen good day

[mk4]

I composed the story that Walmart should create their own cryptocurrency just to ... catch your eyes  

Sure.

Unless you give the cryptocurrencies to their hand, you will never persuade them quickly enough to make them learn and accept cryptocurrencies. But how to give them a cryptocurrency ? They do not have an wallet for you to send. And if they do have wallets, they are not the targeted people for us to introduce cryptocurrencies.

Giftdrop paper wallet can solve this problem first. Besides, giftdrop paper wallets have many other applications. The story of Walmart above is just an example case in suppose.

Paper wallets are the physical form of cryptocurrencies. Let's think of utilization of this mediums.

Again. How is this going to help Walmart? How will Walmart improve their business by giving out a certain coin/token? So the people now has "WAM" coin/token. Now what? Just like what pooya87 said, pulling something like this is just going to give them temporary publicity and nothing else.

[Biomass]

I composed the story that Walmart should create their own cryptocurrency just to ... catch your eyes  

Sure.

Unless you give the cryptocurrencies to their hand, you will never persuade them quickly enough to make them learn and accept cryptocurrencies. But how to give them a cryptocurrency ? They do not have an wallet for you to send. And if they do have wallets, they are not the targeted people for us to introduce cryptocurrencies.

Giftdrop paper wallet can solve this problem first. Besides, giftdrop paper wallets have many other applications. The story of Walmart above is just an example case in suppose.

Paper wallets are the physical form of cryptocurrencies. Let's think of utilization of this mediums.

Again. How is this going to help Walmart? How will Walmart improve their business by giving out a certain coin/token? So the people now has "WAM" coin/token. Now what? Just like what pooya87 said, pulling something like this is just going to give them temporary publicity and nothing else.

No, it will not help. As all of you have said and I agree. Walmart do not need a cryptocurrency WAM. And it also does not help Walmart much.

But a company somewhere can make their own cryptocurrency accepted by their customers by giftdropping. The coin has its initial value through a giftdrop campaign because it is equal to the bonus of sale before it can be listed on an exchange. Eventually, the company can accept payment with that coin.

Is it the same way that ICOs running their airdrops ?? But an airdrop only takes crypto-citizen to its community.

Giftdrops can take everyone to cryptocurrencies.

(It seems that the story about Walmart and WAM is distracting you from the main message that I am trying to describe Sorry for my poor language.)

[Biomass]

Let's take another example. This is me and my small company named Organic Cosmetics.

In 2017, I thought of making an ICO. Imagine that I created a coin name COS.

For every customer who buy from me 1 USD value in products, I give them 1 COS in giftdrop paper wallet. 1 COS = 0.01 USD. This is only initial value or ICO value.

Ie. You buy Organic Cosmetics for 1000 USD, you have 1000 COS, which is equal to 10 USD. The giftdrop COS paper wallet is like coupons.

The customer can take the COS coins from the giftdrop paper wallet they recieve and accumulate it. Or they can come back to me, exchange for cash or use COS to buy my cosmetics.

Eventually, COS becomes my system's cryptocurrency. My company is the exchange of COS coin. My customers are the community. They can mine COS with me to make it decentralized. The COS I gave them in giftdrop campaign was only from my pre-mined coins.

One day, I list COS on other public exchanges to spread out the community, as well as my business. I also stop the giftdrop campaign and let the market Demand-Supply decide the COS price.

[bartolo]

If your customers are crypto users, the idea can work well, but if they are not familiar with cryptocurrencies all they will get will be some loyalty points that they will not know how to use and will easily forget about. Things works the other way round, first you have customers that are into cryptocurrencies and then you can think of creating your own cryptocurrency for your business.

[zerocashdev]

This is a very cool solution that allows you to tie customers to your store in a better and new way, the main thing is that this coin should not be too high volatile! 

[bayu7adi]

Walmart had succeeded in becoming a top-tier company in the world, but the company was not too concerned with technological advancements, so Google, Amazon and Facebook took over the big markets of this world despite different sectors.
by adopting cryptocurrency, I think Walmart will increase the number of its consumers by around 7% to 10%, because we know, that cryptocurrency is not so well known throughout the world

[Endikadija]

I don't get it. Why should Walmart issue their own cryptocurrency instead of adopting bitcoin? What's the advantage of Walmart creating their own "WAM" coin and how will it help them get more customers like you're saying? I'm pretty sure they're doing fine with just accepting fiat currency. Creating their own coin/token is simply just pointless.

Imagine if you are wanna creating a fast transaction and then that needs more than 10 minutes to get a single confirmation and most of the merchants are putting more than two confirmation to avoid the double spend. That makes sense to create its own crypto with a better scalability to make it even faster.

[cytpoway121]

Basically I think it’s not to get more customers as you suggested
But embracing crypto currency would make it possible for them to operate across the world fixing and attends to orders with prompt delivery

But if amazon and other huge firms alike Apple and Samsung can follow suit
Then it will be termed a great success