Crypto Will Significantly Impact the Future of Finance – Walmart CTO

October 19, 2022

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Suresh Kumar, the Chief Technology Officer of the US largest retail Walmart in a recent interview explained how crypto and metaverse will influence the future of finance.

According to Kumar In the interview at the Yahoo Finance All Markets Summit on Monday, cryptocurrencies will become a major player in the disruption of payments in the future and “will become an important part of how customers transact,” said Kumar.

“Crypto is going to continue to play a very important role in that. And obviously, we want to be there where the customer really needs us to be,” he furthered.

Kumar also noted that part of the disruption will be happening in the metaverse “on live streams, inside your social media app.”

“So whether it is physical goods or virtual goods, [cryptocurrencies] play a part in terms of what the customer wants,” said Kumar.

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Walmart’s Connections With Crypto and Metaverse

In late 2021, Walmart applied for cryptocurrency and metaverse-related trademarks, paving way for the retail giant to issue its NFT and cryptocurrency within a metaverse.

Walmart’s venture into the realms of crypto took another step earlier this year when it launched “Walmart Land” and “Walmart’s Universe of Play”, two online game worlds within a popular gaming platform Roblox.

Also, Walmart has added some members to its board of directors who have links to the crypto industry.

Tom Horton is the company’s lead independent director and has served on the board of the crypto firm Blockchain.com before

Sarah Friar is another member of Walmart’s board with a link to the crypto industry.

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