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Crypto Will Play a Vital Role in Payments Disruption: Walmart CTO

Published 10/18/2022, 10:23 AM
Updated 10/18/2022, 10:30 AM
© Reuters.  Crypto Will Play a Vital Role in Payments Disruption: Walmart CTO

  • Walmart’s CTO outlined how crypto will play an integral payment role across the metaverse.
  • Kumar aims to make payment options friction-free for customers to be able to transact.
  • Walmart (NYSE:WMT) also made its debut on Roblox Worlds as a testing ground for the metaverse.

The Global Chief Technology Officer and Chief Development Officer of Walmart, Suresh Kumar, recently in an interview outlined how crypto will play an integral payment role across the metaverse and social media. Kumar discussed the role of crypto in Walmart’s future:

With the emerging technology, Kumar aims to make payment options friction-free for customers who want to transact. Kumar believes that the payments disruptions will begin in terms of different payment methods and different payment options.

Crypto will continue to play a significant role in that. And obviously, we want to be there where the customer really needs us to be. So whether it is physical or virtual goods, cryptocurrencies] play a part in what the customer wants.

The CTO also noted that a large number of customers will be approached through the Metaverse and other live streams on social media apps, and that crypto could be an important payment option in such areas.

Additionally, Walmart has been adapting to blockchain technologies. Last month, Walmart made its debut on Roblox Worlds as a testing ground for the metaverse. Walmart created “Walmart Land” and “Walmart’s Universe of Play” within Roblox.

Earlier this year, Walmart took a leap into blockchain technology to create an automated process for handling invoices and payments of its 70 third-party freight carriers. By using blockchain, Walmart has eliminated its issues of incompatible enterprise systems by replacing them with a shared single source of credible information for Walmart and its carriers.

The post Crypto Will Play a Vital Role in Payments Disruption: Walmart CTO appeared first on Coin Edition.

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