Speaking at the Yahoo Financial Markets Summit, Suresh Kumar, chief technology officer of retail giant Walmart, said he envisions a future where digital assets will be used in Walmart’s online stores and in the virtual world, where cryptocurrencies will become an important part of how customers transact.
“We want to make sure it doesn’t use friction for customers so they can get value out of it,” he said. Suresh Kumar also said that Walmart has integrated the use of blockchain technology into the core of crypto assets and developed a system that allows retailers to track the products they sell and the origin of products.
The company is also exploring the use of blockchain technology as a way to automate logistics transactions between suppliers and carriers.