Crypto payments are inevitable at this point. And it looks like the big shots know this too. U.S. retail giant Walmart has sparked a lot of speculations in the market with its recent ad posting. The posting which was made on LinkedIn said that the company was in search of a digital and cryptocurrency product lead. An expert who was well-versed in cryptocurrency and passionate about the space.
This has now been a topic of debate on when Walmart will start accepting crypto payments. The ad points to someone who will drive the product and capabilities roadmap for the company.
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Building out a roadmap for digital currencies and cryptocurrencies is becoming more important in e-commerce. And as more companies continue to explore crypto payments, it seems the largest retailer in North America will not be left out. The ad makes it obvious that Walmart is continuing to work on making cryptocurrencies more accessible to its customers.
Continuing A Long-Forgotten Project?
This is not the first time Walmart will foray into the world of cryptocurrencies. The company had, back in 2019, applied for a patent for a cryptocurrency. This cryptocurrency was very similar to Facebook’s native crypto, Diem. The crypto was meant to be a stable coin. But this project has mostly faded into obscurity as time has passed.
Now, with the ad going live, questions remain if Walmart has reactivated this product. It would not be farfetched for a company as big as the retail giant to possess a coin of its own. With which customers would be able to purchase items from their stores.
Walmart has also filed a patent for a blockchain-backed drone back in 2019. The technology was meant to use in a number of applications in drones operations. Including transmitting and sharing various information with other drones on the blockchain.
E-Commerce Giants Getting Ready For Crypto
Back in July, e-commerce giant Amazon had posted a similar job ad on their jobs page. The ad was looking to fill a position almost identical to the one Walmart is currently looking to fill. Amazon needed a “Digital Currency and Blockchain Product Lead.”
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Amazon’s ad had sparked a rumor in the market that the company was planning to take bitcoin payments on the platform. Also that the company was building its own token, which would be used on the platform. Amazon had come out a day later to debunk these rumors. But by then, the rumors had already had an effect on the market. Leading to a run-up in the price of bitcoin.
But as the saying goes, “there is no smoke without a fire.” While none of these companies have openly said their intentions to accept cryptocurrencies, it is obvious that they are building out their platforms to be compatible with crypto.
Total crypto market cap now in the green | Source: Crypto Total Market Cap on TradingView.com
Featured image from NBC 5 Dallas-Fort Worth, chart from TradingView.com