{"id":37689,"date":"2022-10-18T04:08:18","date_gmt":"2022-10-18T08:08:18","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=37689"},"modified":"2022-10-18T04:08:21","modified_gmt":"2022-10-18T08:08:21","slug":"crypto-will-become-major-payment-tool-walmart-cto","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-will-become-major-payment-tool-walmart-cto\/","title":{"rendered":"Crypto will become major payment tool – Walmart CTO"},"content":{"rendered":"\n
Suresh Kumar, the global chief technology officer (CTO) of Walmart, predicts that in the future, customers would use crypto as payment tool across the Metaverse <\/a>and social media to pay for both digital and tangible goods.<\/h5>\n\n\n\n
\"Crypto
Crypto will become major payment tool – Walmart CTO <\/figcaption><\/figure>\n\n\n\n

On October 17, Kumar discussed Walmart's views on digital assets while stating that “crypto will become an integral component of how people transact” for both physical and virtual items. Kumar was speaking at the Yahoo Finance All Markets Summit.<\/p>\n\n\n\n

\u201cI think that there are three major areas of disruption. Crypto falls in sort of the middle of it,\u201d he said, explaining that \u201cthe way in which customers are getting inspired and discovering products\u201d is changing.<\/p><\/blockquote>\n\n\n\n

Additionally, Kumar predicted that a sizeable portion of consumers would be reached by marketing via social media platforms like Facebook Live and the Metaverse, and that cryptocurrency would play a large role as a form of payment\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> there.<\/p>\n\n\n\n

\u201cWhen you specifically talk about crypto, it is going to be about discovery of products, whether it is physical or virtual inside, either the Metaverse or upfront, and then how people transact.\u201d<\/p><\/blockquote>\n\n\n\n

This could account for Walmart's latest entry into the Roblox Metaverse, Walmart Land, which was released in late September. The company also provides virtual retail items called “verch” for customers' avatars in addition to hosting a variety of virtual experiences there, including games, a DJ booth, and a Ferris wheel.<\/p>\n\n\n\n

However, Walmart has already indicated in patent papers from January that it may try to create digital currencies, tokens, and NFTs in the Metaverse sector at some point in the future. At current time, NFTs <\/a>and crypto are not integrated with the Roblox metaverse.<\/p>\n\n\n\n

\u201cWe want to make sure that we make it as friction free for customers to be able to transact, and to be able to buy, and how they are able to derive value out of it. And that is where– I think a lot of the disruption is going to start happening in terms of different payment methods, different payment options,\u201d he said.<\/p><\/blockquote>\n\n\n\n

The multi-national retail behemoth has reportedly been working on implementing support for cryptocurrency payments for some time, but so yet there have only been false alarms, like the fraudulent agreement with Litecoin <\/a>that was revealed in a dubious news release from September of last year.<\/p>\n\n\n\n

As of October 2021, there were approximately 200 Bitcoin (BTC) ATMs placed at Walmart locations across the United States, with plans to increase that number to 8,000 at a future date that had not yet been determined.<\/p>\n","protected":false},"excerpt":{"rendered":"

Suresh Kumar, the global chief technology officer (CTO) of Walmart, predicts that in the future, customers would use crypto as payment tool across the Metaverse and social media to pay for both digital and tangible goods. On October 17, Kumar discussed Walmart’s views on digital assets while stating that “crypto will become an integral component […]<\/p>\n","protected":false},"author":12,"featured_media":37691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,2147,1227,2230],"class_list":["post-37689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-cto","tag-payments","tag-walmart"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-84.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/37689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=37689"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/37689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/37691"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=37689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=37689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=37689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}