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.