Following Facebook, US retail giant Walmart also applied for a patent to issue its own crypto coin.
According to the Sintelegraph, the U.S. The application filed under patent and trademark office fee under number 20190236564 is called system for digital money on system system and block chains.
The application, "Create a digital currency based on a common currency; it sets the mechanism for storing this digital currency data on the blockchain chain and buying or paying for digital currency.
With the digital money project proposed in Wal-Lamart's application document, users will have the opportunity to store value at very low cost or for free. Visitors will also be able to cash in on Walmart's project partners and select retailers. There may also be interest on digital money accounts.
Walmart's digital money can be generated in various scenarios to spend as much space as possible. According to Walmart, the new digital currency can be combined with other fiat currencies, such as the dollar, as well as other crypto currencies.
In the patent application, it was emphasized that planned digital money could be an alternative for poor families where banking services become expensive. The retail giant also pointed to the fact that it would eliminate the need for credit and debit cards that would provide digital money and could rival existing banks.