Blockchain, Cryptocurrency News

Retail giant Walmart files US Patent Application for a stablecoin

This week, Walmart joined the list of American companies looking to launch their own stablecoin. The retail giant has officially applied for a cryptocurrency patent very similar to the one of Libra. The US Patent and Trademark Office (USPTO) document was filed on August 1st.

The official US Patent Application, which is available online , shows that the Walmart Board has officially requested permission for:

“Generating one digital currency unit by tying the one digital currency unit to a regular currency; storing information of the one digital currency unit into a block of a blockchain”.

The latest news only shows that Walmart is determined to take their retail dominance to the next level, with several interesting token applications able to be applied in the high-street retail ecosystem. According to the patent, the coin may be used as a way to earn interests as well as serve as a deposit of value.

This is certainly not the first blockchain-related news linked with Walmart, as the company has already used the technology to track its products in the supply chain, specifically greens and pharmaceuticals. The latest update also shows that the American giant is testing delivery systems using drones, which may give them a completely new edge in the race.

Image licensed via Shutterstock

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