In the age of metaverse and social media live streams, Kumar thinks crypto can be the easiest payment tool.
Walmart CTO Suresh Kumar considers crypto to be a ‘major’ payments disruptor in the upcoming times. On October 17, Kumar spoke at the Yahoo Finance All Markets Summit regarding the organization’s favorable outlook on all things cryptocurrency. He stated that he expects “crypto will become an important part of how customers transact” for digital as well as physical products and services.
He further suggested that crypto will be an integral tool for payments in the metaverse and across social media, since both these areas will become the primary ways for users to come across new products.
The Chief Technology Officer at Walmart further said, “I think that there are three major areas of disruption. Crypto falls in sort of the middle of it”. As he sees it, “the way in which customers are getting inspired and discovering products” continues to change with the digital age.
Kumar thinks a good number of consumers will find product recommendations through the metaverse and various live streams on social media, and cryptocurrencies can become a viable payment option in these areas especially. “When you specifically talk about crypto, it is going to be about discovery of products, whether it is physical or virtual inside, either the Metaverse or upfront, and then how people transact.”, Kumar says.
In relevant news, Walmart has recently entered the Roblox Metaverse, launching Walmart Land only in September. They are hosting virtual experiences like games, a DJ booth, a ferris wheel, and also putting virtual merch called ‘verch’ on offer.