Walmart CTO noted, there are three major areas of disruption. Since the way people become inspired and find things is changing, cryptocurrency is at the core of everything.
On October 17, Kumar discussed Walmart's optimistic view on digital assets. He later added that crypto would become an integral component of how customers transact for both real and virtual goods.
Kumar also noted, “In my opinion, there are three key areas of disruption. Crypto is at the center of everything noting that the way people become inspired and find things is changing.”
Walmart's CTO also stated that, “Metaverse and live streaming on social media applications would be used to promote a large number of people and that cryptocurrency might be an essential payment option in these areas.”
This might explain Walmart's recent entry into the Roblox Metaverse, with the debut of Walmart Land in late September. The firm hosts a variety of virtual activities there including games, a DJ booth, a Ferris wheel, and virtual products dubbed "verch" for users' avatars.
At present, NFTs and cryptocurrency are not incorporated into the Roblox metaverse. However, Walmart previously hinted in January patent filings that it may attempt to establish digital currencies, tokens, and NFTs in the Metaverse domain in the future.
“We want to make sure that consumers can deal and acquire with as little friction as possible, and that they can receive value from it. And that is where I believe a lot of the disruption will occur, in terms of other payment methods, different payment possibilities,” he added.
For quite some time, the multinational retail behemoth is asked to be working on implementing crypto payment capabilities. However, so far, only false alarms have been raised, like the phony contract with Litecoin disclosed in a questionable press release in September of last year.
As of October 2021, there were around 200 Bitcoin (BTC) ATMs installed at Walmart stores across the United States, with intentions to increase that number to 8,000 at an unspecified time in the future.
Read also: Should LUNC 1.2% Tax Burn Be Reduced|What Community Thinks?
