The new stabelcoin which should be launched soon is creating a battlefield between Walmart VS Libra according to the crypto analysts that we are about to read more in the coming altcoin news today.
Walmart revealed last week that they will create a new stablecoin via a new patent filing. The digital currency could have some amazing possibilities because Walmart has a huge footprint across the United States. The working people of the US are relying on Walmart for several financial services including such vital things as cashing checks and getting their money in debit cards. Walmart also plays a huge role in the MoneyGram remittance network.
MoneyGram has its own interest in the blockchain and crypto technology and has even agreed to being using the Ripple cross-border settlement options. Western Union and MoneyGram will both use some version of the blockchain technology in order to save money. Democrats have been against cryptocurrency including Facebook’s Libra resurgence in the crypto market. This is why the war is now between Walmart VS Libra and other handful of corporations who have their hands into blockchain. Cowen the crypto analyst believes that Walmart’s crypto project will unlikely face any staunch roadblocks such as Libra. It is still unknown how many different ways Walmart will use the cryptocurrency since it could enable the international buyers to get American goods with less middlemen. It could even become a way for the employees to become exposed to cryptocurrency when getting paid. Walmart has a huge advantage over Facebook which is the huge mass of people who trust them with their money.
Cowen concluded that the government will be much more friendly to Walmart and its attempt at cryptocurrency than it was with Facebook. It is also likely that the digital currency of Walmart will see greater use as well. Walmart may be mega-corporation but there are not any scandals that are relating to the people’s personal information. As we can read in the latest cryptocurrency news, Walmart thrives in many industries because they do everything from food to toys. The company’s foray into cryptocurrency will be a very exciting chapter no matter how this will end.
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