Walmart Has Filed Several Trademarks for Its Own Cryptocurrency
Colin Smith — January 24, 2022 — Business
Walmart, the company most known for its large-scale superstores, has reportedly filed multiple trademarks that point to an upcoming Walmart cryptocurrency. CNBC reported that Walmart filed these trademarks on December 30th, 2021, which is just in time to have the trademark owned by the new year.
These trademarks essentially outline clear intention for a cryptocurrency from the brand. According to CNBC, Walmart used phrases such as "Providing a digital currency and a digital token of value" as well as "downloadable software for electronic wallet services" in its trademark requests. The software integration aspect is interesting as this could point to the acceptance of this currency as an unregulated Walmart-only coin used for purchases in-store. While this has not been confirmed, it is likely that the brand will accept its own coin for transactions following its creation.
This could be a landmark event for cryptocurrency, as a retail store owning its own currency could alter things such as loyalty programs, in-store taxes, or online orders for specific stores in the future.
Image Credit: Shutterstock
These trademarks essentially outline clear intention for a cryptocurrency from the brand. According to CNBC, Walmart used phrases such as "Providing a digital currency and a digital token of value" as well as "downloadable software for electronic wallet services" in its trademark requests. The software integration aspect is interesting as this could point to the acceptance of this currency as an unregulated Walmart-only coin used for purchases in-store. While this has not been confirmed, it is likely that the brand will accept its own coin for transactions following its creation.
This could be a landmark event for cryptocurrency, as a retail store owning its own currency could alter things such as loyalty programs, in-store taxes, or online orders for specific stores in the future.
Image Credit: Shutterstock
Trend Themes
1. Supermarket Cryptocurrencies - The emergence of supermarket-owned cryptocurrencies, like Walmart's trademarked currency, presents an opportunity for other supermarket chains to follow suit and create their own digital currencies.
2. In-store Payment Disruption - The acceptance of Walmart's own cryptocurrency as a form of payment in-store challenges traditional payment methods and presents an opportunity for other retailers to adopt similar digital payment systems.
3. Cryptocurrency in Loyalty Programs - The creation of Walmart's own cryptocurrency opens up the possibility for integrating digital currency into loyalty programs, potentially creating new forms of rewards for customers.
Industry Implications
1. Retail Industry - The retail industry could experience a shift towards cryptocurrency payments and loyalty programs, with other retailers following Walmart's lead in creating their own digital currencies.
2. Banking Industry - The emergence of supermarket-owned cryptocurrencies could disrupt traditional banking methods and payment systems, potentially pushing banks to adapt to the changing landscape of digital currencies.
3. Cryptocurrency Industry - The creation of Walmart's own cryptocurrency could signal a shift towards more mainstream adoption of cryptocurrency as a legitimate form of currency and payment.
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