Walmart and Crypto?

[DavidMott]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

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[bkbirge]

Too little too late would be my gut reaction without really looking into it. The balkanization of the space by filling it with centralized shitcoins muddies the waters and just slightly delays the inevitable bitcoin adoption.

[diahsw]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

Walmart Now Returns Hits with Crypto. On August 1, it was discovered that retail giant Walmart had patented a stable plan backed by the US dollar. If released into the wild, USD-based cryptocurrency will be issued to select Walmart retailers and partners while the patent description explains that the coin can also be used outside Walmart's retail scope. The Walmart patent follows the latest Facebook Libra announcement and the 'Walmart coins' specification is similar to the social media giant project.
Large companies have announced the creation of their own cryptocurrency and news has become a hot topic in the crypto community. It all started on June 18 when Facebook announced the launch of Libra, a stable that would be available on Messenger, Whatsapp and as a standalone application, with the company expecting to launch a product in 2020. However, the Facebook project angered politicians and immediately underwent regulatory pressure from leaders world and threats from US congressmen.
Now Walmart is stepping up the ring to test its own blockchain technology because the company has filed a patent for a new digital currency that illustrates a stable coin supported by the USD. Walmart Coins, if developed, can be easily tested at 11,458 hypermarkets, department stores and wholesale clubs located in 27 countries. Walmart Coins were made by Robert Cantrell, David Nelms, John O'Brien, and Brian McHale.

[Darker45]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

Every company which is initiating its own tokenization effort is a welcome update. We have already seen a lot of them. Tokenization developments are not only focused on retail business such as Walmart but also in terms of real estate, transportation, agriculture, energy, medicine, data, freelancing, ads, gambling, and so many others. 

However, the biggest problem here is that a huge and very influential company such as Walmart getting its feet into cryptocurrency will be very hot in the eyes of the government. With an annual income of at least $500 billion, more than a couple of million employees, and millions of millions of customers daily, I don't think the government will just leave them doing their shift from fiat into crypto free and without any hindrance. This is going to be a hard battle for them.

(Source: https://cryptoslate.com/walmart-patents-own-cryptocurrency-battle-amazon-retail/)

[TimeTeller]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

Every company which is initiating its own tokenization effort is a welcome update. We have already seen a lot of them. Tokenization developments are not only focused on retail business such as Walmart but also in terms of real estate, transportation, agriculture, energy, medicine, data, freelancing, ads, gambling, and so many others. 

However, the biggest problem here is that a huge and very influential company such as Walmart getting its feet into cryptocurrency will be very hot in the eyes of the government. With an annual income of at least $500 billion, more than a couple of million employees, and millions of millions of customers daily, I don't think the government will just leave them doing their shift from fiat into crypto free and without any hindrance. This is going to be a hard battle for them.

(Source: https://cryptoslate.com/walmart-patents-own-cryptocurrency-battle-amazon-retail/)

That would be their main obstacle in fully implementing their own stable coin.
The government will not slip this from their eyes as Walmart is giving them a hefty amount of corporate income tax.
I am curious how the arrangement would be if they will integrate their own stable coin within their system.
But of course, this is another good development in crypto world.

[Kakmakr]

I can tell you now, the US Government is going to stop these "Private" coins, before it takes off with every company having it's own token and competing with the Dollar. A lot of these companies are global and their token will have a impact on the local reserve currencies too, so you will get push back from the smaller governments, because a foreign currency are used by their citizens to buy goods and services in their country.

Imagine Wallmart only accepting the US Dollar for goods and services in another country outside of the US.  

[boyptc]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

joining Wallmart with a tokenmarket might improve crypto as one of the best payment support methods. so maybe there are negative effects and there are positive effects on crypto joining Wallmart

They will create their own token so people who are longing to see that launch are the ones who really are using or buying at Walmart.

This is all about the adoption and these huge companies doesn't want to ride the craze late.

[MonsterV]

I think this is the right way for walmart, they can't lie that the need for blockchain technology is very important in business especially they are one of the big ecommerce. They certainly do not want to be left behind and overtaken by rival ecommerce since Facebook plans to launch their blockchain coins. Well I think this will bring new impacts and changes in the future.

I can tell you now, the US Government is going to stop these "Private" coins, before it takes off with every company having it's own token and competing with the Dollar. A lot of these companies are global and their token will have a impact on the local reserve currencies too, so you will get push back from the smaller governments, because a foreign currency are used by their citizens to buy goods and services in their country.

Imagine Wallmart only accepting the US Dollar for goods and services in another country outside of the US.  

I think the management of Walmart has thought about that, so they know what needs to be done to deal with the US government. Even so the US government can not unilaterally stop tokens that Walmart will launch, they must have a clear reason. Walmart only needs to meet the requirements and rules according to US regulations for the launch of their tokens.

[Baronets]

I believe that if they create a stable coin based on the US dollar, it will be little more than a payment service. It is unlikely to gain international acceptance if Washington continues to try to destroy the influence of the US in the world.

[maxreish]

Seeing how far this blockchain technology is going positively, no doubt big companies like Walmart are very interested in joining cryptocurrency. Some.rumours are saying that Walmart will compete Facebook's stable coin "Libra". However, after reading this, it seems that Walmart will not create their own coin but will just accept crypto coins as a payments.

[Lizzylove1]

It's going to be another stable coin. They may suffer the same fate with Facebook coin whom is still having a running battle with the US senate. Well for the impact for bitcoin, its users will eventually get to learn about bitcoin and buy more of bitcoin because of its economic reward.

[kryptqnick]

I don't know, I have mixed feelings about this. Okay, I get it that Bitcoin is not very suitable for Walmart. But a stable coin like Tether just kills the whole point of being a cryptocurrency, doesn't it? Sure, this money cannot be faked, but the transactions will probably have the same problems as Bitcoin currently has if we are talking about many transactions per second. Why not use DAG instead? Or something that already exists nowadays? Why do they always need to try making their own currency, as if it's going to be any better than more than a thousand cryptos we already have. It seems very profit-oriented, not user-oriented. And I am not sure the spread of centralized coins is beneficial for the crypto market.

[Artemis3]

I can tell you now, the US Government is going to stop these "Private" coins, before it takes off with every company having it's own token and competing with the Dollar. A lot of these companies are global and their token will have a impact on the local reserve currencies too, so you will get push back from the smaller governments, because a foreign currency are used by their citizens to buy goods and services in their country.

Imagine Wallmart only accepting the US Dollar for goods and services in another country outside of the US.  

Probably. We are witnessing a privatization of money. Unfortunately centralized efforts are doomed to be subjugated by the state. And like you say, Walmart could be forbidden to use its own coin in countries like the USA. Walmart is actually present in China (Chinese rich go there to purchase expensive American imported goods), we should expect a similar situation there.

Save for a few exceptions like the HKD, most fiat coins are State owned. And many states forbid people from using their own. Of course they can prosecute individuals and companies, which is why centralized coins are so weak. People think because a company backs a coin makes it safer, but its actually the other way around. Ask yourself the question, can the coin survive if the parent company is destroyed? Then you know if its centralized or not.

If IBM and the likes back Bitcoin (or something very close), sure. But if they make something like Libra, that depends on Facebook survival, forget it. Zuckerberg doesn't get, how worthless his coin is by making it centralized. And some State initiatives are falling the same death trap.

Still, i guess with every initiative there is chance of discussion and promotion, and people can and will find their way to the original, here.

[electronicash]

I can tell you now, the US Government is going to stop these "Private" coins, before it takes off with every company having it's own token and competing with the Dollar. A lot of these companies are global and their token will have a impact on the local reserve currencies too, so you will get push back from the smaller governments, because a foreign currency are used by their citizens to buy goods and services in their country.

Imagine Wallmart only accepting the US Dollar for goods and services in another country outside of the US.  

Probably. We are witnessing a privatization of money. Unfortunately centralized efforts are doomed to be subjugated by the state. And like you say, Walmart could be forbidden to use its own coin in countries like the USA. Walmart is actually present in China (Chinese rich go there to purchase expensive American imported goods), we should expect a similar situation there.

Save for a few exceptions like the HKD, most fiat coins are State owned. And many states forbid people from using their own. Of course they can prosecute individuals and companies, which is why centralized coins are so weak. People think because a company backs a coin makes it safer, but its actually the other way around. Ask yourself the question, can the coin survive if the parent company is destroyed? Then you know if its centralized or not.

If IBM and the likes back Bitcoin (or something very close), sure. But if they make something like Libra, that depends on Facebook survival, forget it. Zuckerberg doesn't get, how worthless his coin is by making it centralized. And some State initiatives are falling the same death trap.

Still, i guess with every initiative there is chance of discussion and promotion, and people can and will find their way to the original, here.

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think of it like each company as a country of its own. so in order for their economy to grow, walmart will only accept payments using their coin and in order for you to have walmart coins is to buy some. depends to which exchange are they going to list their coin but then again prices of their products will  still be base on USD. no different from what it is before but coins will now exist. its up to them what benefits are to be given to holders.

[bkbirge]

And I am not sure the spread of centralized coins is beneficial for the crypto market.

It's not. I think you are right to be wary.

[Lalafell]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

Walmart announced that it applied for a cryptocurrency patent and, predictably, the cryptopress began speculating about the giant retailers’ plans and intentions.Walmart tends to become an ecosystem payment mechanism and bank the unbanked. Why Walmart Wants a Cryptocurrency? Banking the unbanked, payroll, and to eliminate credit cards. There are two primary reasons why Walmart wants a cryptocurrency: 1) Reduce interchange fees, and 2) Enhance cross-border remittances.

[Twinkledoe]

So, looks like Walmart are joining the token market. Keen to know your opinions on how this will impact Bitcoin and the Cryptocurrency e-commerce space?

Walmart announced that it applied for a cryptocurrency patent and, predictably, the cryptopress began speculating about the giant retailers’ plans and intentions.Walmart tends to become an ecosystem payment mechanism and bank the unbanked. Why Walmart Wants a Cryptocurrency? Banking the unbanked, payroll, and to eliminate credit cards. There are two primary reasons why Walmart wants a cryptocurrency: 1) Reduce interchange fees, and 2) Enhance cross-border remittances.

With that being said, it only shows the benefits of having crypto within their system. I seriously think that this will push thru as they already identify the benefits it will have to their operations as well as to their customers. This only proves that if crypto is utilized properly, it will create a good impact to the business. The management will not think of it if they don't see any potential of using it. I hope we will see more of these established businesses integrating crypto within their system.

[Reid]

Why not just USDT then?
The name says it all, and it will just be the same value as dollar.
They wont need to go way far into making so much fuss and paperworks about it.

Of course they wont pick bitcoin. That is USA my friend and there is this name called Trump.

[Woshib]

Can you imagine this, the Gov set a crypto payment processor and most of stores use it, like walmart or even amazon as an e-commerce website, so they can link that wallet who paid to the shipping address, what a nightmare.that's an extra reason why i only use each address one time.

[Moiyah]

This is not the first time Walmart join the crypto world market. The first one is the food supply chain, so it is not surprisingly Walmart join the medicine into digital circulation, and eventually unite more into different blockchains. The result of joining the e-commerce into chains will easily control, simply track or verify prescript drugs and the database. It is really advantageous to related company, and organization. Moreover the variety of brand of products will lessen the price of transportation and vice versa with the consumers. It means that the btc and other altcoins increases for it’s highly demand.