{"id":1700681,"date":"2022-10-18T06:10:03","date_gmt":"2022-10-18T10:10:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1700681"},"modified":"2022-10-18T06:18:13","modified_gmt":"2022-10-18T10:18:13","slug":"walmart-cto-says-cryptocurrencies-will-become-an-important-part-of-how-customers-pay","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walmart-cto-says-cryptocurrencies-will-become-an-important-part-of-how-customers-pay\/","title":{"rendered":"Walmart CTO Says Cryptocurrencies Will Become an Important Part of How Customers Pay"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwalmart-cto-says-cryptocurrencies-will-become-an-important-part-of-how-customers-pay%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1700681&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Walmart (<a href=\"https:\/\/finance.yahoo.com\/quote\/WMT?p=WMT&#038;.tsrc=fin-srch\" data-ylk=\"slk:WMT\" class=\"link\">WMT<\/a>) made headlines late last year, when the company sought several new trademarks that signaled its intent to make and sell virtual goods in the metaverse. Now, the retail giant\u2019s Global Chief Technology Officer says crypto transactions will be right &#8220;in the middle&#8221; of its digital strategy moving forward.<\/p>\n<p>Speaking at the <a href=\"https:\/\/finance.yahoo.com\/live\/allmarketssummit\/\" data-ylk=\"slk:Yahoo Finance All Markets Summit\" class=\"link\">Yahoo Finance All Markets Summit <\/a>(video above), Suresh Kumar said he envisions a future where digital assets will be used both in Walmart\u2019s online stores and in the virtual world.<\/p>\n<p>\u201cCrypto will become an important part of how customers transact,\u201d Kumar said. \u201cWe want to make sure that we make it as friction free for customers \u2026so that they are able to drive value out of it.\u201d<\/p>\n<p>That vision reflects an increased emphasis on the development of emerging technologies at the Bentonville, Ark.-based retail giant since Kumar took the helm as the company\u2019s first CTO back in 2019. In three years on the job, Kumar has built out a team of 20,000 workers globally, with another 5,000 tech workers and open tech hubs being established in Atlanta and Toronto.<\/p>\n<p>Speculation has swirled around Walmart\u2019s crypto ambitions since the company filed <a href=\"https:\/\/finance.yahoo.com\/news\/walmart-cryptocurrency-nft-plans-191156216.html?fr=sychp_catchall\" data-ylk=\"slk:seven separate trademark applications;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link yahoo-link\">seven separate trademark applications<\/a> with the U.S. Patent and Trademark Office in December 2021, indicating a desire to sell virtual goods, including electronics, appliances, and personal care products. It also expressed an intent to offer users a virtual currency, including NFTs. Since then, the company has largely remained mum on how it plans to integrate crypto in the retailer\u2019s larger footprint.<\/p>\n<p>Toronto , Canada &#8211; 23 June 2022; Suresh Kumar, CTO &#038; Chief Development Officer, Walmart, on Auto\/Tech &#038; TalkRobot Stage during day three of Collision 2022 at Enercare Centre in Toronto, Canada. (Photo By Harry Murphy\/Sportsfile for Collision via Getty Images)<\/p>\n<p>Kumar said he envisioned the use of digital assets to enable product discovery for customers at a time when shopping habits are changing rapidly. Specifically, he sees key use cases in the metaverse as well as live streams inside various social media apps.<\/p>\n<p>\u201cI think a lot of the disruption is going to start happening in terms of different payment methods, and different payment options,\u201d he said.<\/p>\n<p>Despite the price volatility in crypto assets this year, major marketers have doubled down on their ambitions, in part, because it creates the potential for new revenue streams and allows brands to expand beyond their core customers. Pringles and Taco Bell are among a growing list of names that have issued and sold NFTs to appeal to younger customers, while Nike (<a href=\"https:\/\/finance.yahoo.com\/quote\/NKE?p=NKE&#038;.tsrc=fin-srch\" data-ylk=\"slk:NKE\" class=\"link\">NKE<\/a>) partnered with Roblox (<a href=\"https:\/\/finance.yahoo.com\/quote\/RBLX?p=RBLX&#038;.tsrc=fin-srch\" data-ylk=\"slk:RBLX\" class=\"link\">RBLX<\/a>) to build out an online world called Nikeland, to sell virtual goods.<\/p>\n<p>NFTs are increasingly being used to create unique digital experiences, allowing brands to engage with customers who prefer to spend more time in virtual worlds or the metaverse, instead of physical stores, according to <a href=\"https:\/\/www.cbinsights.com\/research\/nfts-brands-retailers-decentralized-commerce\/\" rel=\"sponsored noopener\" target=\"_blank\" data-ylk=\"slk:research by CB Insights\" class=\"link\">research by CB Insights<\/a>.<\/p>\n<p>The global metaverse market alone is expected to reach nearly $400 billion in the next two years with virtual assets like NFTs and hardware driving the gains, <a href=\"https:\/\/finance.yahoo.com\/news\/how-the-metaverse-is-slowly-transforming-the-workplace-145627350.html\" data-ylk=\"slk:according to Boston Consulting Group (BCG);outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link yahoo-link\">according to Boston Consulting Group<\/p>\n<p><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walmart (WMT) made headlines late last year, when the company sought several new trademarks that signaled its intent to make and sell virtual goods in the metaverse. Now, the retail giant\u2019s Global Chief Technology Officer says crypto transactions will be right &#8220;in the middle&#8221; of its digital strategy moving forward. Speaking at the Yahoo Finance &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1897508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1700681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1700681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1700681"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1700681\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897508"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1700681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1700681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1700681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}