Walmart attempts to patent a method of using cryptocurrency

by in Cryptocurrency News

Walmart attempts to patent a method of using cryptocurrency

It seems that Walmart also desires to follow Facebook’s example and try itself in the world of cryptocurrencies.

Related: Chinese official began pushing blockchain after Xi’s speech

The giant retailer is trying to patent a way to apply digital coin attached to a usual fiat currency, which intends to all cheaper and quicker transactions as well as loyalty features. This became known from the filing that US Patent and Trademark Office declared on August 1.

Walmart spokesman Kory Lundberg commented on this saying that even if the filing is approved, the company doesn’t have plans about this patent for the current period.

In the application which was filed by Walmart Apollo LLC on January 29, the company told it wants to patent a way for building a coin that operates and records all the transaction on a blockchain's ledger. The corporation wants to overlay the data about transactions with customer buying history and savings.

Walmart is one of the first companies who adopted blockchain technology. Nowadays, it uses blockchain for tracking products along its supply chain.