Posted 2 years ago | by Ben Armstrong

Walmart Rollbacks Heading to the Blockchain

Facebook made waves earlier this year when it announced it would be developing its own cryptocurrency. Now, another major company could be looking to move into the cryptosphere as well.

According to a filing to the U.S. Patent & Trademark Office, Walmart is looking at:

generating one digital currency unit by tying the one digital currency unit to a regular currency.

The implication here is that Walmart is looking to develop its own stablecoin. Many people in crypto believe that a full tokenized economy is coming very quickly and this could be evidence to back that up. In a fully tokenized economy, retailer issuing its own digital currency could be as common as a company having a website. This would allow each online or brick & mortar retailer to incentivize customers to shop at a specific store. You could kind of think of this as gift cards on steroids.

Along with creating a stablecoin, Walmart would also be looking to create its own wallet similar to the plan Facebook has for Libra & Calibra. With a stablecoin that could be spent in store, safely stored, & easily converted over to cash, Walmart would seek to be the first major retailer to hit a crypto home run.

To find out more about this story and Bitcoin news from today, watch today's BitBoy Crypto video:

[youtube v="uF5-SxersE4"]