Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Retail Giant Walmart Outlines Crypto Strategy – CEO Predicts Major Disruption in Payment Options – Featured Bitcoin News
Walmart’s global chief technology officer has revealed crypto’s role in the retail giant’s future. “Crypto will become an important part of how customers shop,” the executive said. “We want to make sure that we make it as frictionless for customers to shop.”
Executive Discusses Crypto in Walmart’s Future
Walmart Global Chief Technology Officer and Chief Development Officer Suresh Kumar discussed cryptocurrency at Yahoo Finance’s All Markets Summit on Tuesday.
In response to a question about the role of crypto in Walmart’s future, Kumar said: “I think there are three main areas of disruption. Crypto kind of falls in the middle of that. I’ve talked in the past about the way customers are inspired and discover products. It’s changing.”
He continued: “Part of it is going to happen in the metaverse. Part of that will happen on live streams, inside the social media app. So whether it’s physical goods or virtual goods, they [crypto] play a role in relation to what the customer wants.” The Walmart manager believed:
Crypto will become an important part of how customers shop. We want to make sure that we make it as frictionless for customers to be able to shop, and to be able to buy, and how they can get value out of it.
“And that’s where I think a lot of the disruption is going to start happening in terms of different payment methods, different payment options,” he added. “The role of crypto is going to continue to play a very important role in that. And obviously we want to be where the customer really needs us to be.”
“The last part of it is how products are discovered, products are delivered. A lot of disruption is going on over there,” Kumar noted, elaborating:
When you’re talking about crypto specifically, it’s going to be about product discovery, whether it’s physical or virtual on the inside, whether metaverse or up front, and then how people trade.
Walmart filed several trademark applications last year covering cryptocurrency, metaverse and non-fungible token (NFT) products and services. The retail giant entered the metaverse last month with the launch of Walmart Land and Universe of Play on Roblox.
What do you think of the comments made by Walmart’s CTO? Let us know in the comments section below.
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