A growing chain of patents

A flock of blockchain-related patent applications by Walmart was published last week. It suggests that the world’s largest company is seeking to implement blockchain technology across its wide range of business operations, including shipping, retail, and pharmacy. The most interesting application, however, relates to a new cryptocurrency. Titled “System and Method for Digital Currency via Blockchain,” the document highlights the need for an alternative to banks for low-income households and introduced a new digital currency that could facilitate an “open-platform value exchange for purchases and for crowdsource work.”

While Walmart has been active in adopting blockchain technology, this initiative is unique in that it mirrors the goals of Facebook‘s Libra coin. Similar to the social networking company, Walmart has access to its large customer base, but the current regulatory pushback against Libra may extend to Walmart’s new coin as well.