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"]

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Walmart Looking to Create a Stablecoin to Rival LibraBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.