The latest cryptocurrency news show that US companies are among the world’s top 10 blockchain patent acquirers when even non-blockchain businesses are seeking for patents in this industry. As of recently, there have been even nine Walmart blockchain and crypto patents, allowing the retail giant to make waves in the industry again.
Dat from the US Patent and Trademark Office (USPTO) on August 1 showed that nine Walmart applications were filed and published by Walmart Apollo, a subsidiary firm that controls Walmart’s trademarks.
One of them, as the altcoin news show, is a patent that is making the biggest buzz in the cryptoverse. Titled “System and Method for Digital Currency via Blockchain” this patent discusses a possibility to create their own stablecoin.
In the document, Walmart describes generating one digital currency unit by tying the one digital currency unit to a regular currency”, mentioning that “the regular currency is U.S. dollar” – which basically translates to creating a USD-pegged stablecoin.
The document also shows other details and states that one of the advantages of using digital currencies is that low-income households (for whom banking is expensive) can use the “alternative way to handle wealth at an institution that can supply the majority of their day-to-day financial and product needs” therefore solving the problems with cash and credit cards.
Many best cryptocurrency news sites reported about the potential new stablecoin which is among the nine Walmart patents, and its endless possibilities. For instance, it notes that the stablecoin may be available for use only at selected retailers or partners, can provide a fee-free or fee-minimal place to store wealth, could earn interest to the accounts and its digital currency may remove the need for debit and credit cards without requiring cash.
In the meantime, the nine Walmart applications include ones for blockchain-related patents. Some of the ones published in the coming altcoin news on August 1 include:
- Prescription security and authentication: authenticating prescriptions and their deliveries using a distributed ledger.
- Cloning drones using blockchain: a system and method for vehicle-to-vehicle communications.
- A physical device authorizing digital copies: preventing digital piracy and forgery by using a physical key with accompanying asymmetrical digital encryption.
- Verifying retail returns using blockchain
- Authorizing retail returns using blockchain
- Crowd source loaned code with blockchain
- Delivery vehicle security using blockchain
- Storage lockers using digital keys
The nine Walmart patents shared in one day prove that the American retail giant is serious about crypto and blockchain.
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