Suresh Kumar, the global chief technology officer (CTO) of Walmart, predicted that in the future, customers would use cryptocurrencies to pay for both digital and tangible goods, making this a “major” area of disruption, as reported by Cointelegraph.
According to Cointelegraph, on October 17, Kumar discussed Walmart’s views on digital assets while stating that “crypto will become an integral component of how people transact” for both physical and virtual items. Kumar was speaking at the Yahoo Finance All Markets Summit.
“In my opinion, there are three main disruptions. According to him, “the way in which people are becoming inspired and discovering products is changing, and cryptocurrency sort of lies in the middle of it.
“When you specifically talk about crypto, it is going to be about the discovery of products, whether it is physical or virtual inside, either the Metaverse or upfront and then how people transact.”
Cointelegraph further noted that “We want to make sure that we make it as friction-free for customers to be able to transact and to be able to buy, and how they are able to derive value out of it. And that is where, I think a lot of the disruption is going to start happening in terms of different payment methods, different payment options,” he said.
Kumar further asserted that a sizeable portion of consumers will be reached by marketing via social media applications and live streaming on the Metaverse and that cryptocurrency may play a key role as a form of payment in these contexts.
As of October 2021, there were approximately 200 Bitcoin (BTC) ATMs placed at Walmart locations across the United States, with plans to increase that number to 8,000 at a future date that had not yet been determined.
(With Insights from Cointelegraph)
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