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On October 18, Suresh Kumar, Global Chief Technology Officer and Chief Development Officer at Walmart talked openly about cryptocurrency at Yahoo Finance’s All Markets Summit.
A question was asked regarding the part of crypto in Walmart’s future, to which Kumar replied: “In my opinion, there are three crucial regions of interruption. Crypto falls in kind of the middle of it. I have also discussed it earlier about the way through which clients are getting influenced and finding products. This is continually transforming.”
He further carried on by stating: “A portion of that will take place in the metaverse, some other portion on the live streams, in your social media app also. Thus, either it is a physical thing or virtual thing, they take part with respect to the customer’s choice.” The CDO at Walmart commented:
Gradually, crypto will become a significant part of the way clients buy. We wish to ensure that we make it smooth for customers so that they are capable of transacting and be capable of purchasing and the way through which they are capable of drawing worth out of it.
“Due to abovementioned things, I think there will be many interruptions which is going to happen with respect to various payment methods, various payment options,” he added. “The crypto is going to play a very significant character in that. And undoubtedly, we want to position ourselves at the place, as per the customer’s demands.”
“Last but not least part of this is the way the products are found, as wel as got delivered. Many interruptions going on at that part,” Kumar highlighted, describing:
When you particularly talk about crypto, it is going to be about the findings of the products, either it is a physical or digital thing, whether it is a metaverse or upfront, and then the way customers transact.
Walmart filed many trademark applications in 2021 regarding cryptocurrency, metaverse, and non-fungible token (NFT) products and services. The retail giant set its foot in the metaverse in September 2022 with the introduction of Walmart Land and Universe of Play on Roblox.
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