Wallmart one of the largest and most important chains in the United States in the field of retail has made a lot of talk in recent days because it has registered a patent to proceed with the creation of a stablecoin to be pegged to the US dollar. If the creation were successful, Wallmart could compete with Facebook's Libra.
So Wallmart would like to do a further step on the cryptocurrency scene che takes a step forward by creating his own stablecoin, especially after the Facebook announcement that the Libra project is not 100% safe and that it is not known whether the coin could ever be released or not.
The retailer, however, has released a report entitled System and Method for Digital Currency by Blockchain to the United States Patent and Trademark Office. Wallmart in this document explains all the ways to create a cryptocurrency and a stablecoin. In his report he writes to create a digital currency by linking it to a traditional one, storing information within a block that he will do later part of a blockchain.
This patent filed by Wallmart it also indicates that stablecoin will also have a function for storing funds. The digital currency can therefore also serve as an archive without any commission, to be able to store the wealth that can be spent later at retailers, if necessary they can also be converted into money, even if in this case there could be interests.
Still in the patent file, it is said that the currency could be tied to a traditional one like the US dollar, so it will be easier to withdraw funds. In addition, the value of the stablecoin, in a certain way it could also be linked to other cryptocurrencies.
The patent described by Walmart shows that stablecoin could be a substitute for credit and debit cards, and could also be used to pay for food. Walmart has always been at the forefront of blockchain development, which then filed 54 patents also related to Walmart China, for an innovative technology always based on the blockchain that will serve to trace the entire product chain.
