Walmart CTO says crypto will become a ‘major’ payments disruptor

18.10.2022 10:48 (Updated 18.10.2022 10:10)
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by Aleksandar Đurić
1 min read

Suresh Kumar, global CTO of Walmart, believes cryptocurrencies will be a “huge” area of disruption in the future, particularly in how customers pay for virtual and tangible things.

Walmart’s CTO stated that the company is preparing to enable consumers who wish to pay with digital assets for both real and virtual items.

On October 17th, he discussed Walmart’s optimistic attitude towards digital assets, stating that cryptocurrency will become integral to how customers trade.

Kumar also stated that metaverses and live broadcasts on social media applications will be used to promote to a large number of people and that cryptocurrency may be an essential payment option in these locations.

This might explain Walmart’s recent arrival into the Roblox Metaverse, with the release of Walmart Land in late September. There are games, a DJ booth, a Ferris wheel, and virtual merchandise termed “verch” for users’ avatars at the corporation.

NFTs and cryptocurrencies are not currently integrated into the Roblox metaverse. However, Walmart already stated in January’s patent filings that it may seek to construct digital currencies, tokens, and NFTs in the Metaverse realm in the future.

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  • An experienced journalist working in the film and video-game industries for many years. An enthusiast busy with learning new things about the world of crypto every day. Majored in English Language and Literature. Has a shrine in his apartment dedicated to Hidetaka Miyazaki.

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