Posted 2 years ago | by Ben Armstrong
Walmart Sneaking into Cryptocurrency From the Back
When Facebook officially announced their plan to launch Libra in 2020, it was met with resistance. As legislators first learned of their entrance into the cryptocurrency, they have been very nervous. Many congressman and senators have gone so far as to try to create laws from stopping tech companies like Facebook from getting into crypto. Facebook has gone as far as to try to steal aides away from politicians to try to navigate the dicey situation they have brought upon themselves.
The whole time, Walmart has been sitting on the sidelines just watching & waiting to see what happens. And while the whole focus has been placed upon the tech world, the United States' largest brick and mortar retailer has been preparing a patent for a stablecoin that can be used at its store. Imagine being able to spend crypto in a Walmart without having to use a third party app or a knock off crypto credit card that is actually just USD in a fancier format.
If Walmart would have announced their coin before the Facebook political debacle, there is a good chance they would have gotten just as much pushback as Facebook has. As a matter of fact, the only reason we know about the Walmart stablecoin is because of the patent. They still have not actually even announced their plans.
Facebook has already played the villain and there may be no return for them. There is much more than a zero percent chance that Facebook is not ever going to be allowed to launch Libra. Compared to Facebook's attempt to take over the entire world by making a stablecoin that could challenge the dollar, Walmart's plan for a stablecoin to be used in store seems like a slam dunk.
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