RATE Group | Walmart Files Cryptocurrency Patent Joining Facebook’s Libra in Challenging Bitcoin
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Walmart Files Cryptocurrency Patent Joining Facebook’s Libra in Challenging Bitcoin

14 Aug Walmart Files Cryptocurrency Patent Joining Facebook’s Libra in Challenging Bitcoin

Posted at 17:46h in Cryptocurrency News by

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The uproar caused by Facebook’s proposed Libra coin hasn’t died down yet, and a similar intention by retail giant, Walmart has emerged.

A filing published by the U.S. Patent and Trademark Office at the beginning of August reveals that Walmart filed an application since January 29 2019 to patent a method for creating a coin that runs and records transactions on a blockchain. In the application, Walmart Apollo LLC requested to patent a digital ledger similar to the one powering Bitcoin.

Walmart’s romance with Bitcoin and blockchain tech

Walmart’s romance with Bitcoin and its underlying technology, blockchain is no secret. It is already using blockchain to track produce along its supply chain. It is in the forefront among big institutions that have already implemented the technology. Walmart’s plan is to introduce a native coin that will be tied to a traditional fiat currency, just like Facebook’s Libra. This it says will allow for cheaper and faster…

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