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Suresh Kumar, the global CTO at Walmart, predicts that cryptocurrencies will play a key role in payment disruption in the future, transforming the way people pay for goods.
Kumar mentioned that Walmart has a positive outlook on crypto at a Yahoo Finance summit. According to the executive, there are three leading sectors of disruption, and cryptocurrencies fall in the middle of it. Kumar says the way in which people are inspired and discover products is being transformed.
He believes that part of changes will happen in the metaverse, and a part of that will happen on social media via real-time videos. He mentioned that crypto is one of the things that customers want.
Kumar finds when you talk about the crypto industry, it's mainly about finding products and transacting. Walmart CTO said the company’s purpose is saving money and helping people live their lives and technology is a critical part for it.
Leading multinational retail corporation have shown interest in blockchain and crypto before. At the beginning of the year, the company unveiled plans to step into the metaverse.